Mixed-Use Building with
1035 N LOMBARD STREET, Wilmington, DE 19801
For Sale
New
$595,000
Three separate commercial and residential spaces provide a storefront alongside two apartments.
Property Size3,700 SF
Price / SF$160.81
Days on Market5
Property Features for 1035 N LOMBARD STREET
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Liquor License
Building Details
Year Built
Buildings
Listing Agency:
Crown Homes Real Estate
(302) 504-6147
Listed By:
Michael Mulski · License DE RS0040131
(302) 609-9888
Source:
Cummingsrealtors
Added: Nov 11
Changed: Nov 14
Last Checked: Nov 14 at 2:14PM
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 Crown Homes Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 1035 N Lombard Street, this 3,700-square-foot mixed-use property combines a ground-floor storefront with two apartments. The residential units comprise a three-bedroom, one-bath apartment and a separate one-bedroom, one-bath apartment. The storefront is currently used as a liquor store; the business, license, inventory, and related business assets are excluded from the sale. The building dates to 1899.
The property is in Wilmington near N Lombard Street and E 11th Street, with access to I-95 and the city’s Amtrak/SEPTA station. A 2019 traffic study recorded approximately 16,000–25,000 vehicles per day on nearby N Walnut Street; this figure pertains to that corridor, not the property’s frontage. Downtown restaurants, retail, government offices, and employment centers are also identified in the surrounding area.
The property is in Wilmington near N Lombard Street and E 11th Street, with access to I-95 and the city’s Amtrak/SEPTA station. A 2019 traffic study recorded approximately 16,000–25,000 vehicles per day on nearby N Walnut Street; this figure pertains to that corridor, not the property’s frontage. Downtown restaurants, retail, government offices, and employment centers are also identified in the surrounding area.
Key Highlights
- 3,700‑square‑foot mixed‑use property with a street‑level commercial storefront and two apartments
- Residential mix includes a 3‑bedroom, 1‑bath apartment and a 1‑bedroom, 1‑bath apartment
- Building constructed in 1899
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,707
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$754,140
$754.1K
Cap Rate 7%
$538,671
$538.7K
Cap Rate 9%
$418,967
$419.0K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$70.2K $18.96/SF
− Vacancy
−$9.8K −$2.65/SF
EGI
$60.3K $16.31/SF
− OpEx
−$22.6K −$6.11/SF
NOI
$37.7K $10.19/SF
Area
New Castle County, DE
Vacancy
14.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$754,140
Cap Rate 7%
$538,671
Cap Rate 9%
$418,967
Alternative Uses
Best Use
Mixed Use
$538.7K
$471.3K – $628.5K
NOI $37,707 @ 7.0% cap · market cap 6.34%
Second Best
Retail
$511.7K
$447.8K – $597.0K
NOI $35,820 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$885.0K
$774.4K – $1.03M
NOI $61,950 @ 7.0% cap · market cap 10.41%
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
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,403
Businesses Nearby
Explore this area
Business Placement
Demographics for 19801, DE
16,219
Population
9,390
Households
1.7
Avg Household Size
34
Median Age
26%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
3,686
Density / Sq Mi
$44,505
Median Household Income
$36,684
Median Earnings
$1,126
Median Rent
$196,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Mixed-use properties in Wilmington
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three separate commercial and residential spaces provide a storefront alongside two apartments.
Where is this mixed-use property located?
The property is located at 1035 N LOMBARD STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,700‑square‑foot mixed‑use property with a street‑level commercial storefront and two apartments; Residential mix includes a 3‑bedroom, 1‑bath apartment and a 1‑bedroom, 1‑bath apartment; Building constructed in 1899
