Seven Garages Plus Buildable
923 WRIGHT Street Wilmington, DE 19805
923 WRIGHT Street, Wilmington, DE, 19805
$139,999
For Sale
$139,999
LAND - WILMINGTON, DE
Property Size1,480 SF
Lot Size0.09 Acres
Price / SF$94.59
Days on Market307
Property Features for 923 WRIGHT Street
General Information
- Property type
- Land
- Property subtype
- Other
- Standard status
- Active
- Size
- 1,480 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Annual Amount
- 495
Building Details
- Year built
- 1970
- Floors in Building
- 1
- Building materials
- Brick
Listing Agency
Coldwell Banker Realty
(302) 234-1888
4420 Limestone Road, Plymouth Meeting, DE
Listed by
Casey Riffel · License #RS0026139
(302) 476-5498
Added: Sep 15, 2025 Checked: Jul 18 at 10:06 am
MLS# DENC2089398
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property features seven cinder block garages with brick exteriors, all currently occupied by month-to-month tenants. Five of the garages are single units, each measuring 19' x 10', while one is a double unit measuring 19' x 21'. All units are equipped with electricity, connected to a single meter. The parcel also includes a potentially subdividable and buildable lot located behind the garages, measuring approximately 20' x 74'. The property is zoned 26R-3 "ONE FAMILY ROW HOUSES". The property size is 1480 square feet and the lot size is 0.09 acres.
Key Highlights
- Buildable lot included (approx. 20' x 74')
- Seven income‑producing garages, currently tenant‑occupied.
- Zoned 26R‑3 "ONE FAMILY ROW HOUSES".
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.3k | $9.00 |
| − Vacancy | −$1.4k | −$0.95 |
| EGI | $11.9k | $8.06 |
| − OpEx | −$3.6k | −$2.42 |
| NOI | $8.3k | $5.64 |
1,480 SF · lease $9.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$204.7K
$179.1K – $238.8K
NOI $14,328 @ 7.0% cap · market cap 10.23%
Second Best
Industrial
$119.2K
$104.3K – $139.1K
NOI $8,345 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$354.0K
$309.8K – $413.0K
NOI $24,780 @ 7.0% cap · market cap 17.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Parking lots & garages
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FAQs
What type of property is this?
Parking lot & garage - Seven garages with a buildable lot for sale.
Where is this parking lot & garage located?
The property is located at 923 WRIGHT Street Wilmington, DE.
What is the asking price?
The asking price for this property is $139,999.
What are key features of this property?
This property features: Buildable lot included (approx. 20' x 74'); Seven income‑producing garages, currently tenant‑occupied.; Zoned 26R‑3 "ONE FAMILY ROW HOUSES".
