222 Delaware AveWilmington, DE 19801

Property Details for 222 Delaware Ave

Year built

1987

Construction

ADOBE

Lot size

0.80 AC

Property size (Sq ft)

1,760 SF

Zone code

26C-4

Property type

Retail properties

Property subtype

Turn key restaurants

APN

26-035.20-007

APU

2603520007

Description

The prestigious PNC Bank Center, a landmark eighteen-story Class A office building in Wilmington, Delaware, offers exceptional executive office space. Built in 1987 and extensively renovated in 2021, this 249,799 square foot building boasts premium finishes. The property features a minimum divisible space of 1,687 square feet, with a maximum contiguous space of 24,180 square feet, and currently has 56,068 square feet of vacant space available for lease. Multiple tenancy options are available. Conveniently located in the heart of downtown Wilmington, the building offers unparalleled access to numerous hotels, restaurants, and coffee shops, all within walking distance. Building amenities include a six-level parking garage with 536 spaces and six EV charging stations, six passenger elevators, one freight elevator, and two parking garage elevators. Modern infrastructure includes Comcast, Verizon, and AT&T voice and data cabling, a water source heat pump HVAC system, and dual electrical feeds (13,000 volts per feed) providing 208/120V for receptacles and 480/277V for lighting. A Brew HaHa! Cafe is located on the ground floor for tenant convenience. This is a truly exceptional opportunity to secure prime office space in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,105,697

  6.5%

  $1,020,643

  7%

  $947,740

• Comparable approach

  Method

  Valuation

  Relative Method

  $940,589

  Geo Method

  $579,503

• Alternative Use

  Use

  Valuation

  Residential

  $860,951

  Hospitality

  $788,626

  Educational

  $656,128

  Medical

  $678,693

  Retail

  $1,020,643

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.746

Longitude

-75.55

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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