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Fully Approved Apartment Land Development 499 Jimmy Dr 270 Unit Apartment Building $7,537,968 CAD ($27,918 CAD/Unit) Smyrna, DE 19977
INVESTMENT HIGHLIGHTS
- All off-site & on-site improvements are complete (entrance, traffic signals and public utilities are on-site)
- Smyrna School District: Located in the highly regarded Smyrna School District—home to award-winning schools like Smyrna Elementary
- Traffic Counts: Route 1: 54,962 VPD; Route 13: 29,124 VPD
- Ground to be sold as raw tract with utilities delivered to the edge of the site
- Major surrounding employers: Surrounded by major employers including Amazon, Bayhealth Hospital, Delaware State University, Procter & Gamble & more
EXECUTIVE SUMMARY
Fully approved multi-family apartment record plan for sale located within an existing mixed-use development at Simons Corner in Smyrna, DE. The property is approved for 270 apartment units, comprised of ten (10) 3-story buildings featuring a mix of 1, 2 & 3 bedroom apartments in a garden style design in addition to a two-story 1,722 sf community center and three (3) 6-stall parking garages. The property is part of the Simons Corner Shopping Center, the newest, most prominent retail center in the trade area which features a variety of pad and in-line retail users, including Aldi, Wawa, Walgreens, M&T Bank, WSFS Bank, Concord Pet, Dollar General, Anytime Fitness, Express Care, AT&T Mobile, and Hardee's.
The property is well-located at the foot of the South Smyrna Route 1 on/off ramps at DuPont Highway and offers convenient access to all points north and south, including major employment centers in Dover, Middletown, Christiana, Newark, and Wilmington, via convenient access to both Route 1 and DuPont Highway.
The property is well-located at the foot of the South Smyrna Route 1 on/off ramps at DuPont Highway and offers convenient access to all points north and south, including major employment centers in Dover, Middletown, Christiana, Newark, and Wilmington, via convenient access to both Route 1 and DuPont Highway.
PROPERTY FACTS
| Price | $7,537,968 CAD | Apartment Style | Garden |
| Price Per Unit | $27,918 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 14.17 AC |
| No. Units | 270 | Construction Status | Proposed |
| Property Type | Multifamily | Building Size | 105,797 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Zoning | H-C | ||
| Price | $7,537,968 CAD |
| Price Per Unit | $27,918 CAD |
| Sale Type | Investment |
| No. Units | 270 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 14.17 AC |
| Construction Status | Proposed |
| Building Size | 105,797 SF |
| No. Stories | 3 |
| Zoning | H-C |
PROPERTY TAXES
| Parcel Number | 1-17-019.00-01-75.02-000 | Improvements Assessment | $0 CAD |
| Land Assessment | $2,879,657 CAD | Total Assessment | $2,879,657 CAD |
PROPERTY TAXES
Parcel Number
1-17-019.00-01-75.02-000
Land Assessment
$2,879,657 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,879,657 CAD
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Fully Approved Apartment Land Development | 499 Jimmy Dr
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