Mixed-Use Office Condo with
For Sale
Contact for pricing
1401 Pennsylvania Ave, Wilmington, DE 19806
Office condo in a mixed-use building, featuring an adaptable layout with existing plumbing suitable for service-oriented uses.
Property Size750 SF
Price / SF$180
Days on Market29
Property Features for 1401 Pennsylvania Ave
General Information
Standard status
Active
Size
750 SF
Property subtype
RETAIL
Listing Agency:
LMT Commercial Realty / CORFAC International
(302) 740-7070
Listed By:
Mitch Berkowitz
(302) 740-7070
Source:
Moodyscre
Added: Jul 7
Changed: Jul 10
Last Checked: Jul 10 at 2:14PM
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 LMT Commercial Realty / CORFAC International
Investment Insights
Based on property information with market context.
This former hair salon condo is available for sale and offers a functional layout that can support a range of professional or service-oriented office uses. The space includes existing plumbing, which may accommodate businesses that rely on in-suite plumbing for their operations. Located within a mixed-use building with residential condominiums above, the unit offers a practical commercial footprint within a building that also contains residences.
The property is positioned on Pennsylvania Avenue with convenient access to Downtown Wilmington. The existing configuration and plumbing make it a strong fit for owner-users or investors looking for an office condo that can be repurposed for a variety of personal service and office-related uses.
The property is positioned on Pennsylvania Avenue with convenient access to Downtown Wilmington. The existing configuration and plumbing make it a strong fit for owner-users or investors looking for an office condo that can be repurposed for a variety of personal service and office-related uses.
Key Highlights
- Former hair salon condo at 1401 Pennsylvania Avenue in Wilmington, DE
- Functional, adaptable interior layout for professional, personal service, office, or medical‑related uses
- Existing plumbing supports service‑oriented business configurations
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 | $20.6k | $27.48 |
| − Vacancy | −$2.6k | −$3.44 |
| EGI | $18.0k | $24.05 |
| − OpEx | −$7.2k | −$9.62 |
| NOI | $10.8k | $14.43 |
750 SF · lease $27.48/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$154.6K
$135.3K – $180.3K
NOI $10,820 @ 7.0% cap · market cap 8.01%
Second Best
Office B
$145.9K
$127.7K – $170.3K
NOI $10,215 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$179.4K
$157.0K – $209.3K
NOI $12,558 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,096
Businesses Nearby
Explore this area
Business Placement
Demographics for 19806, DE
10,083
Population
6,638
Households
1.5
Avg Household Size
45
Median Age
71%
College-Educated
98%
High-School Grad
1.7 sq mi
ZIP Area
5,931
Density / Sq Mi
$86,240
Median Household Income
$76,246
Median Earnings
$1,329
Median Rent
$370,500
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?
Office units - Office condo in a mixed-use building, featuring an adaptable layout with existing plumbing suitable for service-oriented uses.
Where is this office units located?
The property is located at 1401 Pennsylvania Ave Wilmington, DE.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Former hair salon condo at 1401 Pennsylvania Avenue in Wilmington, DE; Functional, adaptable interior layout for professional, personal service, office, or medical‑related uses; Existing plumbing supports service‑oriented business configurations
