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2599 Wilmington Rd 16,522 SF 100% Leased Office Building New Castle, PA 16105 $1,400,000 ($84.74/SF) 11.65% Cap Rate

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Investment Highlights

The building is currently tenant occupied producing a steady income stream.
36 private offices, conference rooms, break rooms, reception area.

2 story brick commercial building, 16522 sf.

Executive Summary

This 16,000-square-foot, two-story commercial building offers a versatile and functional layout, designed to accommodate a variety of business needs. The building includes 36 private offices, perfect for individual workspaces or team-based environments. These offices are distributed across both floors, maximizing the building's use of space. A spacious, welcoming reception area greets visitors as they enter. 3 Conference Rooms provide quiet and private meeting spaces for client presentations and team discussions. Break Rooms offer employees a comfortable area for lunch or informal meetings. The building includes a designated mechanical room. The upper and lower floor provides a professional layout for workflow efficiency. This building blends functionality with flexibility, providing a high-quality environment for businesses while generating income for the owner. The building is currently tenant-occupied, producing a steady income stream.

Financial Summary (Actual - 2024)	Annual	Annual Per SF
Gross Rental Income	$192,000	$11.62
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$192,000	$11.62
Net Operating Income	-	-

Financial Summary (Actual - 2024)

Gross Rental Income
Annual	$192,000
Annual Per SF	$11.62

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$192,000
Annual Per SF	$11.62

Net Operating Income
Annual	-
Annual Per SF	-

Property Facts

Sale Type

Investment

Property Type

Office

Building Size

16,522 SF

Building Class

Year Built

1990

Price

$1,400,000

Price Per SF

$84.74

Cap Rate

11.65%

NOI

$163,100

Percent Leased

100%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

8,261 SF

Building FAR

0.16

Lot Size

2.34 AC

Zoning

R/3 - R/3 zoning is often designed for multi-family residential use, allowing for higher-density residential development compared to single-family zoning.

Parking

60 Spaces (3.63 Spaces per 1,000 SF Leased)

Major Tenants

Professional, Scientific, and Technical Services
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-
Dec 2027

Baker Tilly began in 1931 in Waterloo, Wisconsin, when Ed Virchow started the business by providing audits to Midwestern canning companies, and the firm later expanded through combinations with many other firms. Baker Tilly now operates as an advisory, tax, and assurance firm within a global network, with services that include audit, consulting, digital solutions, risk advisory, transactions, and tax planning. The company presents itself as serving clients across major financial centers and broader markets, with a business model centered on helping organizations manage change, protect value, and support growth across multiple professional services verticals.