Retail Building in Wilmington
For Sale
Contact for pricing
107 W 9th Street, Wilmington, DE 19801
1,080 SF retail building for sale in Wilmington, DE.
Property Size1,080 SF
Price / SF$185.19
Days on Market758
Property Features for 107 W 9th Street
General Information
Standard status
Active
Size
1,080 SF
Class
B
Property subtype
Retail, Office
Zoning
26C-4 - CENTRAL OFFICE (City of Wilmington)
Lease Type
NNN
Building Details
Buildings
1
Stories
1
Listing Agency:
LMT Commercial Realty, LLC.
Listed By:
Chris Moore · License #DE RB-0031128
Source:
Crexi
Added: Jul 29, 2024
Changed: Aug 16
Last Checked: Aug 23 at 10:44AM
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, LLC.
Investment Insights
Based on property information with market context.
A 1,080 +/- SF ground-level retail building is available for sale. It is situated just off Market Street in the central business district of Wilmington, Delaware.
Key Highlights
- Ground level retail building for sale.
- Offering 1,080 +/- SF of retail space.
- Located in the heart of Wilmington CBD, Wilmington, DE.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,455
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$209,100
$209.1K
Cap Rate 7%
$149,357
$149.4K
Cap Rate 9%
$116,167
$116.2K
Market Conditions
NOI Build-Up for 1,080 SF
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.
Gross rent
$16.2K $15.00/SF
− Vacancy
−$1.3K −$1.17/SF
EGI
$14.9K $13.83/SF
− OpEx
−$4.5K −$4.15/SF
NOI
$10.5K $9.68/SF
Area
New Castle County, DE
Vacancy
7.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$209,100
Cap Rate 7%
$149,357
Cap Rate 9%
$116,167
Alternative Uses
Best Use
Retail
$149.4K
$130.7K – $174.3K
NOI $10,455 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.3K
$226.0K – $301.4K
NOI $18,083 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,775
Businesses Nearby
40k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 49%
Dining 41%
Shops & Services 5%
Apparel 3%
McDonald's
Dining
16,382 visits/mo
0.5 miles
Sheraton Suites Wilmington Downtown
Hotels & Casinos
5,726 visits/mo
0.1 miles
Doubletree by Hilton Downtown Wilmington - Legal District
Hotels & Casinos
5,265 visits/mo
0.2 miles
Courtyard Wilmington Downtown
Hotels & Casinos
3,169 visits/mo
0.2 miles
Residence Inn Wilmington Downtown
Hotels & Casinos
3,057 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 1,080 SF retail building for sale in Wilmington, DE.
Where is this retail space located?
The property is located at 107 W 9th Street Wilmington, DE.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Ground level retail building for sale.; Offering 1,080 +/- SF of retail space.; Located in the heart of Wilmington CBD, Wilmington, DE.
