Two-Story Medical Office
For Sale
Contact for pricing
1806 N Van Buren St, Wilmington, DE 19802
Two-story brick and block medical office building with 6,005+/- SF of rentable office space.
Property Size7,010 SF
Price / SF$156.92
Days on Market1121
Property Features for 1806 N Van Buren St
General Information
Standard status
Active
Size
7,010 SF
Property subtype
OFFICE
Zoning
R-3
Building Details
Stories
2
Construction
brick and block
Listing Agency:
CBRE | Wilmington
(302) 661-6712
Listed By:
Brian Hopkins · License #RS-0014330
Source:
Moodyscre
Added: Jul 6, 2023
Changed: Jul 25
Last Checked: Jul 25 at 4:56PM
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 CBRE | Wilmington
Investment Insights
Based on property information with market context.
This two-story medical office building totals approximately 7,010+/- SF and includes 6,005+/- SF of rentable office space. The structure is built with brick and block construction.
The property is zoned R-3. A specific address is provided as 1806 N Van Buren St, Wilmington, DE 19802.
The offering is presented as a medical office building with defined rentable office space within the overall building footprint.
The property is zoned R-3. A specific address is provided as 1806 N Van Buren St, Wilmington, DE 19802.
The offering is presented as a medical office building with defined rentable office space within the overall building footprint.
Key Highlights
- 7,010+/- SF two‑story medical office building
- 6,005+/- SF of rentable office space
- Brick and block construction
Financial Insights For Healthcare Medical
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 | $192.6k | $27.48 |
| − Vacancy | −$24.1k | −$3.44 |
| EGI | $168.6k | $24.05 |
| − OpEx | −$67.4k | −$9.62 |
| NOI | $101.1k | $14.43 |
7,010 SF · lease $27.48/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.44M
$1.26M – $1.69M
NOI $101,133 @ 7.0% cap · market cap 9.19%
Second Best
Office B
$1.36M
$1.19M – $1.59M
NOI $95,480 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,371 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19802, DE
26,189
Population
11,596
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
89%
High-School Grad
3.5 sq mi
ZIP Area
7,483
Density / Sq Mi
$54,370
Median Household Income
$39,579
Median Earnings
$1,236
Median Rent
$188,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story brick and block medical office building with 6,005+/- SF of rentable office space.
Where is this medical office space located?
The property is located at 1806 N Van Buren 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: 7,010+/- SF two‑story medical office building; 6,005+/- SF of rentable office space; Brick and block construction
