Historic Mixed-Use
New
For Sale
$625,000
118 DELAWARE STREET, New Castle, DE 19720
21HC zoning supports low-intensity commercial activity alongside residential use in the historic district.
Property Size2,480 SF
Price / SF$252.02
Days on Market3
Property Features for 118 DELAWARE STREET
General Information
Standard status
Active
Size
2,480 SF
Property subtype
Commercial
Zoning
21HC - Historic Commerce Zoning
Additional Details
End Cap
Yes
Building Details
Year Built
1760
Year Renovated
2016
Listing Agency:
Monument Sotheby's International Realty
(302) 654-6500
Listed By:
George W. Hobbs · License #RA-0031191
(302) 545-5263
Source:
Cummingsrealtors
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 24 at 5:46PM
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 Monument Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This three-level end-unit townhome offers 2,480 square feet, with four bedrooms and one and a half baths. Expanded and renovated in 2016, it has an open main-floor layout, vaulted ceilings, exposed wood beams, and a rear deck. The second floor contains two bedrooms and a full bath; the top floor has two additional bedrooms and a loft or workspace. A historic Coca-Cola advertisement remains visible on the building’s side.
The property is in Old New Castle, near the Delaware River waterfront and local restaurants. Its 21HC zoning is identified as Historic Commerce, a district that supports historical commercial activity and mixed residential, office, and low-intensity retail uses while preserving the character of the colonial commercial core.
The property is in Old New Castle, near the Delaware River waterfront and local restaurants. Its 21HC zoning is identified as Historic Commerce, a district that supports historical commercial activity and mixed residential, office, and low-intensity retail uses while preserving the character of the colonial commercial core.
Key Highlights
- 2,480‑square‑foot, three‑level end‑unit townhome
- Four bedrooms and 1.5 baths
- Expanded and renovated in 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,779
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,580
$675.6K
Cap Rate 7%
$482,557
$482.6K
Cap Rate 9%
$375,322
$375.3K
Market Conditions
NOI Build-Up for 2,480 SF
Gross rent
$55.9K $22.56/SF
− Vacancy
−$10.9K −$4.40/SF
EGI
$45.0K $18.16/SF
− OpEx
−$11.3K −$4.54/SF
NOI
$33.8K $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%
$675,580
Cap Rate 7%
$482,557
Cap Rate 9%
$375,322
Alternative Uses
Best Use
Office B
$482.6K
$422.2K – $563.0K
NOI $33,779 @ 7.0% cap · market cap 5.40%
Second Best
Mixed Use
$361.1K
$315.9K – $421.2K
NOI $25,274 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$593.2K
$519.1K – $692.1K
NOI $41,524 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 19720, DE
61,043
Population
24,262
Households
2.5
Avg Household Size
39
Median Age
22%
College-Educated
89%
High-School Grad
38.3 sq mi
ZIP Area
1,594
Density / Sq Mi
$75,985
Median Household Income
$42,600
Median Earnings
$1,282
Median Rent
$242,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - 21HC zoning supports low-intensity commercial activity alongside residential use in the historic district.
Where is this mixed-use property located?
The property is located at 118 DELAWARE STREET New Castle, DE.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,480‑square‑foot, three‑level end‑unit townhome; Four bedrooms and 1.5 baths; Expanded and renovated in 2016
