Three-Story Mixed-Use Corner
For Sale
$285,000
1 S JACKSON STREET, Wilmington, DE 19805
Commercial storefront space is paired with a four-bedroom residential unit across the upper floors.
Property Size1,416 SF
Price / SF$201.27
Days on Market47
Property Features for 1 S JACKSON STREET
General Information
Standard status
Active
Size
1,416 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Amenities
full basement
Building Details
Year Built
1943
Buildings
1
Stories
3
Listing Agency:
Patterson-Schwartz-Hockessin
(302) 239-3000
Listed By:
Saeed Shakhshir · License #RS-0022256
(302) 898-2889
Source:
Cummingsrealtors
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 16 at 8:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Patterson-Schwartz-Hockessin
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Investment Insights
Based on property information with market context.
This three-story mixed-use property combines commercial space at street level with a two-level residential unit above. The first floor includes storefront space, a half bathroom, and store equipment conveyed with the sale. The upper residence contains four bedrooms and two full bathrooms, with the second floor providing a kitchen, dining area, two bedrooms, and one full bathroom; the third floor adds two bedrooms, another full bathroom, and a sitting room.
A full basement offers storage and Bilco-door emergency access. The building occupies a corner at the signalized intersection of South Jackson Street and Lancaster Avenue, with proximity to downtown Wilmington, the Riverfront, neighborhood shopping, public transportation, and Interstate 95. The commercial permit has expired and must be reapplied for. Use, zoning, licensing, permits, and occupancy requirements require verification with the City of Wilmington. The property and included equipment are offered in present condition.
A full basement offers storage and Bilco-door emergency access. The building occupies a corner at the signalized intersection of South Jackson Street and Lancaster Avenue, with proximity to downtown Wilmington, the Riverfront, neighborhood shopping, public transportation, and Interstate 95. The commercial permit has expired and must be reapplied for. Use, zoning, licensing, permits, and occupancy requirements require verification with the City of Wilmington. The property and included equipment are offered in present condition.
Key Highlights
- Three‑story corner building at the signalized intersection of South Jackson Street and Lancaster Avenue
- Four‑bedroom, two‑level residential unit with 2 full bathrooms
- First‑floor storefront includes a half bathroom and included store equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,287
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,740
$385.7K
Cap Rate 7%
$275,529
$275.5K
Cap Rate 9%
$214,300
$214.3K
Market Conditions
NOI Build-Up for 1,416 SF
Gross rent
$31.9K $22.56/SF
− Vacancy
−$6.2K −$4.40/SF
EGI
$25.7K $18.16/SF
− OpEx
−$6.4K −$4.54/SF
NOI
$19.3K $13.62/SF
Area
New Castle County, DE
Vacancy
19.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,740
Cap Rate 7%
$275,529
Cap Rate 9%
$214,300
Alternative Uses
Best Use
Office B
$275.5K
$241.1K – $321.5K
NOI $19,287 @ 7.0% cap · market cap 6.77%
Second Best
Mixed Use
$206.1K
$180.4K – $240.5K
NOI $14,430 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$338.7K
$296.4K – $395.2K
NOI $23,709 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,915
Businesses Nearby
Explore this area
Business Placement
Demographics for 19805, DE
39,985
Population
17,281
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
7,270
Density / Sq Mi
$56,708
Median Household Income
$38,043
Median Earnings
$1,203
Median Rent
$220,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial storefront space is paired with a four-bedroom residential unit across the upper floors.
Where is this mixed-use property located?
The property is located at 1 S JACKSON STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Three‑story corner building at the signalized intersection of South Jackson Street and Lancaster Avenue; Four‑bedroom, two‑level residential unit with 2 full bathrooms; First‑floor storefront includes a half bathroom and included store equipment
