8 COMMONWEALTH AVE, Claymont, DE 19703 – DENC2086850

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Joseph Lam

sales@soldbyturnkey.com +1(856) 305-8329

Listed by Matthew Lenza • Real Broker LLC

$1,999,999

Est. payment - /mo

0.28 Acres Lot

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Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Overlook Colony

MLS Listing ID DENC2086850

Year Built 1917

Annual Tax Amount $1

Tax Year 2024

Lot Size 0.280 Acres

Acres 0.28

Lot Dimensions 120.00 x 100.00

Property Sub-Type Mixed Use

Source BRIGHT

Property Description

Available now! 10 - 12 units, based on how it is broken down. Once in a lifetime opportunity to own an entire building with Commercial and Residential units. Updated financials will be added. Current owner has increased rents and made numerous improvements throughout. Perfect opportunity to buy now and utilize the increased Cash Flow (and not have to worry about getting costly repairs/upgrades completed). All payments from current tenants are being converted to online payments to make it very easy for the new owner to take over the reigns. Additional Notes Below: A building with a rich history stands proudly at the entrance to Overlook Colony. With the revitalization going on in Claymont, it has seen many changes since 1917 when constructed by General Chemical Company. Initially, the two-story building with a full basement was used as the community center for Overlook Colony and was placed at the main entrance just off of Philadelphia Pike. The Colony was planned and developed by General Chemical to house their employees in what were very nice, substantial homes at the time. Besides being called the community center it was later known as Redman's Hall; a meeting place for a fraternal group. It also housed activities of the Holy Rosary Church and stores including Shinn's and later, Steins. If you walk the halls of our building you will notice a lovely plaque that was presented to the three of us by the Claymont Fire Company. It commemorates the fact that many years ago, all of the organizational meetings of the fire company were held in our building. Also, up until 1924, when the Claymont School was built on a lot donated by General Chemical, the community center provided several rooms to take care of the educational needs of the children in the Colony. In 1989, new owners purchased the building and since then have tried to keep the glory of the building's former days while completely modernizing the structure. Because of our efforts, they were presented with a New Castle County Historic Preservation Award in 2000 and were given a grant of $2,500 from General Chemical in 2002 to help beautify the front of the building. Much thought, work, and finances have been expended over the years.

*** Basement unit is also coming up for rent.

Location

State DE

County New Castle

Area Brandywine (30901)

Zoning COM

Interior

Hot Water Natural Gas

Heating Other

Cooling Central A/C

Flooring Hardwood, Luxury Vinyl Plank

Heat Source Natural Gas

Exterior

Garage Spaces 10.0

Water Access N

Roof Type Slate

Accessibility None

Total Parking Spaces 10

Garage N

Building

Foundation Permanent

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Brandywine

Others

Tax ID 06-084.00-439

Ownership Fee Simple

Special Listing Condition Standard

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Joseph Lam

+1(856) 305-8329

Broker Associate | License ID: 0682262

Broker Associate License ID: 0682262

8 COMMONWEALTH AVE Claymont, DE 19703

Joseph Lam

Key Details

Location

Interior

Exterior

Building

Schools

Others

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8 COMMONWEALTH AVE