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Pike Creek Fitness Club 4905 Mermaid Blvd 39,750 SF Vacant Retail Building Wilmington, DE 19808 $5,200,000 ($130.82/SF) 7.70% Cap Rate
Investment Highlights
- 7.7 Cap on Sale/Leaseback. 2nd nearby location also available.
- Within 5 miles to Gold-Beacom college, ILG airport, Delaware Park, University of Delaware, and Downtown Wilmington.
- Bordering 2 parks and a golf course. 43,400sqft on 2.6 acres.
Executive Summary
Turn-Key business with a healthy NOI.
7.7 +/- Cap Rate on a Sale and Lease-Back.
Bordering 2 parks and the Pike Creek Golf Course.
2.6 acres and a 43,400 sq ft fitness center.
Recent Renovations.
Multiple fitness areas, conference rooms, and swimming pools.
Close to many well-known Wilmington businesses.
Within 5 miles to Gold-Beacom college, ILG airport, Delaware Park, University of Delaware, and Downtown Wilmington.
Take advantage of Delaware’s low tax rate
Easy access to I-95 and the northeast corridor.
7.7 +/- Cap Rate on a Sale and Lease-Back.
Bordering 2 parks and the Pike Creek Golf Course.
2.6 acres and a 43,400 sq ft fitness center.
Recent Renovations.
Multiple fitness areas, conference rooms, and swimming pools.
Close to many well-known Wilmington businesses.
Within 5 miles to Gold-Beacom college, ILG airport, Delaware Park, University of Delaware, and Downtown Wilmington.
Take advantage of Delaware’s low tax rate
Easy access to I-95 and the northeast corridor.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$400,400
|
$10.07
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $400,400 |
| Annual Per SF | $10.07 |
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Health Club
Building Size
39,750 SF
Building Class
C
Year Built
1983
Price
$5,200,000
Price Per SF
$130.82
Cap Rate
7.70%
NOI
$400,400
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.35
Lot Size
2.60 AC
Zoning
CN - CN zoning, or Neighborhood Commercial zoning, is a zoning district that provides retail and service businesses for nearby neighborhoods
Parking
137 Spaces (3.5 Spaces per 1,000 SF Leased)
Frontage
214’ on Mermaid Boulevard
Somewhat walkable
30/100
Exceptionally drivable
90/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-036.20-354 | Improvements Assessment | $1,299,000 (2024) |
| Land Assessment | $141,600 (2024) | Total Assessment | $1,440,600 (2024) |
Property Taxes
Parcel Number
08-036.20-354
Land Assessment
$141,600 (2024)
Improvements Assessment
$1,299,000 (2024)
Total Assessment
$1,440,600 (2024)
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Presented by
The Moving Experience Real Estate
Pike Creek Fitness Club | 4905 Mermaid Blvd
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