First-Floor Office Condo
1401 Pennsylvania Avenue Unit 103 Wilmington, DE 19806
1401 Pennsylvania Avenue Unit 103, Wilmington, DE, 19806
$125,000
For Sale
$125,000
Bright first-floor office unit with a reception area, three rooms, updated bathroom, storage, and 24-hour security.
Property Size773 SF
Price / SF$161.71
Days on Market206
Property Features for 1401 Pennsylvania Avenue Unit 103
General Information
- Standard status
- Active
- Size
- 773 SF
- Property subtype
- Office
Building Details
- Year Built
- 1960
Listing agency
Keller Williams Realty Wilmington
(267) 234-4371
Listed by
Stephanie Roldan
(267) 234-4371
Source
Xome
Added: Dec 28, 2025 Updated: Jul 22 at 12:32PM Checked: Jul 22 at 12:32PM
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 Keller Williams Realty Wilmington
Investment Insights
Based on property information with market context.
This first-floor private commercial unit offers a bright reception area, three separate rooms/workstations, an updated bathroom, and a dedicated storage area. The layout is straightforward for professional services or office use within a condominium setting.
The unit is located in the 1401 Pennsylvania Condominium Apartments building, just minutes from downtown Wilmington and Trolley Square, with nearby parks and popular restaurants. Access is supported by easy routes to I-95.
Ongoing building services include 24-hour security personnel. A monthly condo fee covers building maintenance and utilities, excluding internet and cable, and provides one off-site parking spot with valet.
The unit is located in the 1401 Pennsylvania Condominium Apartments building, just minutes from downtown Wilmington and Trolley Square, with nearby parks and popular restaurants. Access is supported by easy routes to I-95.
Ongoing building services include 24-hour security personnel. A monthly condo fee covers building maintenance and utilities, excluding internet and cable, and provides one off-site parking spot with valet.
Key Highlights
- Private first‑floor commercial office unit in 1401 Pennsylvania Condominium Apartments
- Bright reception area plus three separate rooms/workstations and dedicated storage area
- Updated bathroom, central air cooling, and heating system
Local Financial Insights For Office B
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 | $17.4k | $22.56 |
| − Vacancy | −$3.4k | −$4.40 |
| EGI | $14.0k | $18.16 |
| − OpEx | −$3.5k | −$4.54 |
| NOI | $10.5k | $13.62 |
773 SF · lease $22.56/SF/yr · vacancy 19.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$150.4K
$131.6K – $175.5K
NOI $10,529 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$184.9K
$161.8K – $215.7K
NOI $12,943 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dr. Charles F. ...
Dental Office
Bishop Taurance N ...
Dental Office
Richard F Rago ...
Law Firm
1401 Hair Designs ...
Hair Salon
AMANI Birth
Midwife
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FAQs
What type of property is this?
Office units - Bright first-floor office unit with a reception area, three rooms, updated bathroom, storage, and 24-hour security.
Where is this office units located?
The property is located at 1401 Pennsylvania Avenue Unit 103 Wilmington, DE.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Private first‑floor commercial office unit in 1401 Pennsylvania Condominium Apartments; Bright reception area plus three separate rooms/workstations and dedicated storage area; Updated bathroom, central air cooling, and heating system
