Live-Work Property with Paved
For Sale
$310,000
102 Northern Ave, Wilmington, DE 19805
Residentially zoned property with a renovated kitchen, front porch, and paved parking area.
Property Size1,450 SF
Price / SF$213.79
Days on Market53
Property Features for 102 Northern Ave
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Business Opportunity
Amenities
front porch
renovated kitchen
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Associates-Hockessin
Listed By:
Melinda A Proctor · License #R3-012322
(302) 420-9526
Source:
Burkhart
Added: Aug 15
Changed: Oct 2
Last Checked: Oct 5 at 7:38PM
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 RE/MAX Associates-Hockessin
Investment Insights
Based on property information with market context.
This 1,450-square-foot single-family property combines a three-bedroom, 1.5-bath layout with features suited to residential occupancy or an approved live-work arrangement. The interior includes a renovated kitchen, living room, dinette, and front porch. The property is currently being used as a barbershop, while any continued commercial use remains subject to local zoning and permitted-use verification.
A paved parking lot provides on-site space for clients, guests, or residents. The level parcel measures 50.00 x 150.00 and includes an asphalt driveway, vinyl exterior, and private level roads. Built in 1900, the property is available for immediate occupancy.
A paved parking lot provides on-site space for clients, guests, or residents. The level parcel measures 50.00 x 150.00 and includes an asphalt driveway, vinyl exterior, and private level roads. Built in 1900, the property is available for immediate occupancy.
Key Highlights
- 1,450 SF single‑family property with three bedrooms and 1.5 baths
- Current barbershop use, subject to local zoning and permitted‑use verification
- Renovated kitchen, living room, dinette, and front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,750
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,000
$395.0K
Cap Rate 7%
$282,143
$282.1K
Cap Rate 9%
$219,444
$219.4K
Market Conditions
NOI Build-Up for 1,450 SF
Gross rent
$32.7K $22.56/SF
− Vacancy
−$6.4K −$4.40/SF
EGI
$26.3K $18.16/SF
− OpEx
−$6.6K −$4.54/SF
NOI
$19.7K $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%
$395,000
Cap Rate 7%
$282,143
Cap Rate 9%
$219,444
Alternative Uses
Best Use
Office B
$282.1K
$246.9K – $329.2K
NOI $19,750 @ 7.0% cap · market cap 6.37%
Second Best
Mixed Use
$211.1K
$184.7K – $246.3K
NOI $14,777 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$346.8K
$303.5K – $404.6K
NOI $24,278 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 19805, DE
39,985
Population
17,281
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
7,270
Density / Sq Mi
$56,708
Median Household Income
$38,043
Median Earnings
$1,203
Median Rent
$220,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Residentially zoned property with a renovated kitchen, front porch, and paved parking area.
Where is this live-work space located?
The property is located at 102 Northern Ave Wilmington, DE.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 1,450 SF single‑family property with three bedrooms and 1.5 baths; Current barbershop use, subject to local zoning and permitted‑use verification; Renovated kitchen, living room, dinette, and front porch
