For Sale
$5,200,000

4905 Mermaid BlvdWilmington, DE 19808

Wilmington, DE Fitness Center - High NOI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 43,400 square foot fitness center, located at 4905 Mermaid Blvd, Wilmington, DE 19808, is offered for sale by owner. The property sits on a 2.6-acre lot and boasts a 7.7% cap rate with a Net Operating Income (NOI) of $400,400. The asking price is $5,200,000, translating to $119.82 per square foot. Recently renovated in 2023, this multi-use facility includes multiple fitness areas, activity rooms, locker rooms, offices, and conference areas. Its versatile design allows for flexible use, including the potential separation of fitness and swimming operations. The property enjoys a prime location in a vibrant residential neighborhood, close to Goldey-Beacom College, Delaware Park Casino, Christiana Care, and the University of Delaware. Its proximity to major transportation routes, including I-95, and its strategic location within five miles of the University of Delaware, Goldey-Beacom College, ILG Airport, Delaware Park, and Downtown Wilmington, enhance its appeal. This turn-key business presents a compelling investment opportunity, benefiting from Delaware's low tax rates and the strong community ties of the area. The property borders two parks and the Pike Creek Golf Course, adding to its desirability. This sale is a sale/leaseback opportunity.

Property Details for 4905 Mermaid Blvd

Property type
Specialty properties, Lifestyle centers
Square Feet
43,400 SF
Year Renovated
2023
Lot Size (sq. ft)
113,256 SF

Location Insight

City
Wilmington
County
New Castle
State
Delaware
Latitude
39.73769983
Longitude
-75.70260687
4905 Mermaid Blvd, Wilmington, Delaware

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4905 Mermaid Blvd
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