Four-Unit Apartment
100 Cleveland Ave, Wilmington, DE 19803
For Sale
$850,000
Residential income property with convenient access to I-95, downtown Wilmington, and the Pennsylvania state line.
Property Size3,404 SF
Days on Market99
Property Features for 100 Cleveland Ave
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Multifamily Units
Building Details
Building Size
Buildings
Abandoned
Listing Agency:
LMT Commercial Realty / CORFAC International
Listed By:
Chris Moore, CCIM
(302) 414-1000
Source:
Lmtcre
Added: Aug 8
Changed: Nov 2
Last Checked: Nov 12 at 6:22AM
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 LMT Commercial Realty / CORFAC International
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Investment Insights
Based on property information with market context.
This multifamily property at 100 Cleveland Ave comprises a four-unit apartment building with residential units configured for rental occupancy. The building is described as well maintained and offers an established income-producing format.
The property is located in North Wilmington, with access to I-95, downtown Wilmington, and the Pennsylvania state line. Its four-unit configuration provides a straightforward residential income property profile for buyers evaluating a small multifamily asset.
The property is located in North Wilmington, with access to I-95, downtown Wilmington, and the Pennsylvania state line. Its four-unit configuration provides a straightforward residential income property profile for buyers evaluating a small multifamily asset.
Key Highlights
- Four residential units in one apartment building
- Well‑maintained multifamily building
- Income‑producing residential property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,092
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$721,840
$721.8K
Cap Rate 7%
$515,600
$515.6K
Cap Rate 9%
$401,022
$401.0K
Market Conditions
NOI Build-Up for 3,404 SF
Gross rent
$55.1K $16.20/SF
− Vacancy
−$3.6K −$1.05/SF
EGI
$51.6K $15.15/SF
− OpEx
−$15.5K −$4.54/SF
NOI
$36.1K $10.60/SF
Area
New Castle County, DE
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$721,840
Cap Rate 7%
$515,600
Cap Rate 9%
$401,022
Alternative Uses
Best Use
Multifamily LT 5
$515.6K
$451.2K – $601.5K
NOI $36,092 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$460.6K
$403.0K – $537.4K
NOI $32,242 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$814.2K
$712.4K – $949.9K
NOI $56,994 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
Explore this area
Business Placement
Demographics for 19803, DE
21,886
Population
8,900
Households
2.5
Avg Household Size
47
Median Age
61%
College-Educated
97%
High-School Grad
12.7 sq mi
ZIP Area
1,723
Density / Sq Mi
$133,941
Median Household Income
$73,611
Median Earnings
$1,736
Median Rent
$436,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with convenient access to I-95, downtown Wilmington, and the Pennsylvania state line.
Where is this quadplex located?
The property is located at 100 Cleveland Ave Wilmington, DE.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four residential units in one apartment building; Well‑maintained multifamily building; Income‑producing residential property
