Three-Story Mixed-Use
12 Trolley Square Wilmington, DE 19806
12 Trolley Square, Wilmington, DE, 19806
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For Sale
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Three condominium units combine a former ground-floor restaurant with two leased residential apartments above.
Property Size2,940 SF
Price / SF$357.14
Days on Market14
Property Features for 12 Trolley Square
General Information
- Standard status
- Active
- Size
- 2,940 SF
- Property subtype
- Retail, Mixed Use
Building Details
- Year Built
- 1972
Listing agency
LMT Commercial Realty, LLC.
Listed by
Joe Latina · License #DE RS-0011084
Source
Crexi
Added: Jul 8 Updated: Jul 21 at 1:35AM Checked: Jul 21 at 4:37AM
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.
This three-story mixed-use property consists of three condominium units within a single building. The first floor includes a former restaurant space, while the two upper floors are configured as leased residential apartments. Individual condo units are described as approximately 980 square feet each, with total building square footage reported at approximately 2,940.
The property is located in Wilmington’s Trolley Square neighborhood and is positioned for convenient access to Downtown Wilmington, I-95, and nearby restaurants, retail, and major employers.
For buyers seeking a combined commercial and residential income profile, the building’s condominium structure and current mix of a ground-floor restaurant use with two leased apartments above are the key considerations.
The property is located in Wilmington’s Trolley Square neighborhood and is positioned for convenient access to Downtown Wilmington, I-95, and nearby restaurants, retail, and major employers.
For buyers seeking a combined commercial and residential income profile, the building’s condominium structure and current mix of a ground-floor restaurant use with two leased apartments above are the key considerations.
Key Highlights
- Three‑story mixed‑use property with three condominium units (former restaurant on the first floor and two leased residential apartments above).
- Total building size of 2,940 +/- SF with individual condo units at 980 +/- SF.
- Built in 1972.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.9k | $18.00 |
| − Vacancy | −$2.6k | −$0.88 |
| EGI | $50.3k | $17.12 |
| − OpEx | −$12.6k | −$4.28 |
| NOI | $37.7k | $12.84 |
2,940 SF · lease $18.00/SF/yr · vacancy 4.90% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$539.2K
$471.8K – $629.1K
NOI $37,745 @ 7.0% cap · market cap 3.59%
Second Best
Multifamily LT 5
$445.3K
$389.7K – $519.6K
NOI $31,173 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$703.2K
$615.3K – $820.4K
NOI $49,225 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dr. Nieva T. ...
Physician
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FAQs
What type of property is this?
Mixed-use property - Three condominium units combine a former ground-floor restaurant with two leased residential apartments above.
Where is this mixed-use property located?
The property is located at 12 Trolley Square Wilmington, DE.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three‑story mixed‑use property with three condominium units (former restaurant on the first floor and two leased residential apartments above).; Total building size of 2,940 +/- SF with individual condo units at 980 +/- SF.; Built in 1972.
