Multi-Story Office Building with 2-Car
For Sale
Contact for pricing
1205 N Orange St, Wilmington, DE 19801
Multi-story office building with on-site 2-car garage, security on each floor, and office setup across three levels.
Property Size7,200 SF
Price / SF$152.78
Days on Market71
Property Features for 1205 N Orange St
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
2
Property subtype
Office
Zoning
26C-4 Central Office
Additional Details
Public Transit
Yes
Amenities
security system
motion-sensor lights
high-speed internet
kitchenette
reception area
conference room
Building Details
Buildings
1
Stories
3
Listing Agency:
NAI Emory Hill Real Estate Services, Inc.
Listed By:
Kyle McLaughlin · License #RS-0036627
(215) 622-0905
Source:
Crexi
Added: Jul 6
Changed: Sep 9
Last Checked: Sep 14 at 6:58AM
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 NAI Emory Hill Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
1205 N Orange St in Wilmington’s Central Business District is a multi-story office building designed with functional layouts for professional office use. The building includes an open office and conference room on the 1st floor, plus a kitchenette, bathrooms, and two private offices.
The 2nd and 3rd floors provide office space with an internal stairwell, a kitchenette on each floor, a reception area on each floor, and bathrooms on each floor, with 10 offices total across those levels. On-site operations are supported by security on each floor and motion-sensor lights in the offices.
Additional practical features include high-speed internet (FIOS) and 3-phase power (600 amps). Parking includes a 2-car garage on-site, street parking, and a parking garage across the street. The configuration could potentially support a 1 or 2 tenant building, and there is potential for residential conversion.
The 2nd and 3rd floors provide office space with an internal stairwell, a kitchenette on each floor, a reception area on each floor, and bathrooms on each floor, with 10 offices total across those levels. On-site operations are supported by security on each floor and motion-sensor lights in the offices.
Additional practical features include high-speed internet (FIOS) and 3-phase power (600 amps). Parking includes a 2-car garage on-site, street parking, and a parking garage across the street. The configuration could potentially support a 1 or 2 tenant building, and there is potential for residential conversion.
Key Highlights
- Total size: 7,200 SF multi‑story office building with three levels
- 1st floor includes open office/conference room, kitchenette, bathrooms, and two private offices
- 2nd & 3rd floors feature internal stairwell, reception areas, kitchenettes, and bathrooms on each floor
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
$98,068
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
8.92%
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%
$1,961,360
$2.0M
Cap Rate 7%
$1,400,971
$1.4M
Cap Rate 9%
$1,089,644
$1.1M
Market Conditions
NOI Build-Up for 7,200 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
$162.4K $22.56/SF
− Vacancy
−$31.7K −$4.40/SF
EGI
$130.8K $18.16/SF
− OpEx
−$32.7K −$4.54/SF
NOI
$98.1K $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 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%
$1,961,360
Cap Rate 7%
$1,400,971
Cap Rate 9%
$1,089,644
Alternative Uses
Best Use
Office B
$1.40M
$1.23M – $1.63M
NOI $98,068 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,552 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,510
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
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Multi-story office building with on-site 2-car garage, security on each floor, and office setup across three levels.
Where is this office building located?
The property is located at 1205 N Orange St Wilmington, DE.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Total size: 7,200 SF multi‑story office building with three levels; 1st floor includes open office/conference room, kitchenette, bathrooms, and two private offices; 2nd & 3rd floors feature internal stairwell, reception areas, kitchenettes, and bathrooms on each floor
