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    616 N Union St Wilmington, DE 19805

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    For Sale
    $875,000

    Two-story office/retail building on North Union Street, Wilmington.

    Property size:
    7,862 SF
    Lot size:
    0.31 Acres

    Property Features for 616 N Union St

    General Information

    Size
    7,862 SF
    Lot size
    0.31 Acres

    Source: LMT Commercial Realty / CORFAC International Agent Joe Latina

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Income-Generating Office/Retail Building For Sale

    This two-story office/retail building is located on North Union Street in Wilmington. The property, which generates income, is situated on a 0.31 +/- acre lot and includes a spacious parking lot. Benefiting from its location in a busy commercial area, the building offers high visibility, making it a potentially attractive investment. The building has a property size of 7,862 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5715054
    Latitude
    39.7511692

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    FAQs

    What type of property is this?
    Office building - Two-story office/retail building on North Union Street, Wilmington.
    Where is this office building located?
    The property is located at 616 N Union St Wilmington, DE.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: - Income-generating office/retail building; - Located in a bustling commercial corridor; - Excellent visibility
    (302) 530-1233
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    616 N Union St Wilmington, DE 19805
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    Wilmington, DE 19805
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    616 N Union St Wilmington, DE 19805
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