Mixed-Use Property with Office
New
For Sale
$1,098,000
14 E 40th St, Wilmington, DE 19803
The property combines renovated apartments with offices offering shared meeting and break-room areas.
Property Size7,444 SF
Price / SF$147.50
Days on Market6
Property Features for 14 E 40th St
General Information
Standard status
Active
Size
7,444 SF
Property subtype
Commercial
Amenities
central air
Building Details
Year Built
1963
Listed By:
Jeffrey Fowler Group
(302) 727-3013
Source:
Jeffreyfowler
Added: Oct 1
Last Checked: Oct 5 at 6:15PM
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 Jeffrey Fowler Group
Investment Insights
Based on property information with market context.
This 7,444-square-foot mixed-use property includes apartments and multiple offices. Apartment kitchens and bathrooms have been renovated, and the units feature central air. Apartment tenants pay their own utilities.
Office suites range from 204 to 668 square feet. Office rent includes AC and Wi-Fi, with key-fob access at the main entrance and security cameras. Shared areas include a large waiting room, a kitchen and break room, a meeting room, and common restrooms. Individual office addresses and mailboxes are provided.
Office suites range from 204 to 668 square feet. Office rent includes AC and Wi-Fi, with key-fob access at the main entrance and security cameras. Shared areas include a large waiting room, a kitchen and break room, a meeting room, and common restrooms. Individual office addresses and mailboxes are provided.
Key Highlights
- 7,444‑square‑foot mixed‑use property with apartments and offices
- Apartment kitchens and bathrooms recently renovated; units have central air
- Office suites range from 204 to 668 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,862
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,517,240
$1.5M
Cap Rate 7%
$1,083,743
$1.1M
Cap Rate 9%
$842,911
$842.9K
Market Conditions
NOI Build-Up for 7,444 SF
Gross rent
$141.1K $18.96/SF
− Vacancy
−$19.8K −$2.65/SF
EGI
$121.4K $16.31/SF
− OpEx
−$45.5K −$6.11/SF
NOI
$75.9K $10.19/SF
Area
New Castle County, DE
Vacancy
14.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,517,240
Cap Rate 7%
$1,083,743
Cap Rate 9%
$842,911
Alternative Uses
Best Use
Mixed Use
$1.08M
$948.3K – $1.26M
NOI $75,862 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$1.01M
$881.4K – $1.18M
NOI $70,509 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,638 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Explore this area
Business Placement
Demographics for 19803, DE
21,886
Population
8,900
Households
2.5
Avg Household Size
47
Median Age
61%
College-Educated
97%
High-School Grad
12.7 sq mi
ZIP Area
1,723
Density / Sq Mi
$133,941
Median Household Income
$73,611
Median Earnings
$1,736
Median Rent
$436,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines renovated apartments with offices offering shared meeting and break-room areas.
Where is this mixed-use property located?
The property is located at 14 E 40th St Wilmington, DE.
What is the asking price?
The asking price for this property is $1,098,000.
What are key features of this property?
This property features: 7,444‑square‑foot mixed‑use property with apartments and offices; Apartment kitchens and bathrooms recently renovated; units have central air; Office suites range from 204 to 668 square feet
