Corner Mixed-Use
For Sale
$699,000
1600 PHILADELPHIA Pike, Wilmington, DE 19809
Includes a leased street-facing commercial area, residential units, and dedicated off-street parking.
Property Size4,075 SF
Days on Market48
Property Features for 1600 PHILADELPHIA Pike
General Information
Standard status
Active
Size
4,075 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,261
Building Details
Building Size
4,075 SF
Year Built
1875
Units
3
Listing Agency:
Coldwell Banker Realty
Listed By:
Zachary Dupras · License #RS351319
(302) 242-5280
Source:
Elliman
Added: Sep 20
Changed: Oct 25
Last Checked: Nov 4 at 12:17PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 1875, this mixed-use property combines a main residence, street-oriented commercial space, and an upper-level apartment across more than 4,000 square feet. The residence includes 5 bedrooms, two full bathrooms, hardwood and laminate flooring, an updated kitchen, and a three-season sunroom. The commercial area features exposed beam ceilings and direct visibility from the street and is leased to a print shop on a multi-year lease. A separate apartment adds a kitchen and full bathroom.
The property occupies a corner lot with a fully fenced backyard, mature trees, storage outbuildings, and a designated fire pit area. Parking includes 8 spaces for the commercial area and 6 additional spaces for tenants. The Philadelphia Pike setting provides access to I-95, I-495, and Claymont train station.
The property occupies a corner lot with a fully fenced backyard, mature trees, storage outbuildings, and a designated fire pit area. Parking includes 8 spaces for the commercial area and 6 additional spaces for tenants. The Philadelphia Pike setting provides access to I-95, I-495, and Claymont train station.
Key Highlights
- More than 4,000 sq ft of mixed‑use space
- Main residence with 5 bedrooms and two full bathrooms
- Commercial space leased to a print shop on a multi‑year lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,528
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$830,560
$830.6K
Cap Rate 7%
$593,257
$593.3K
Cap Rate 9%
$461,422
$461.4K
Market Conditions
NOI Build-Up for 4,075 SF
Gross rent
$77.3K $18.96/SF
− Vacancy
−$10.8K −$2.65/SF
EGI
$66.4K $16.31/SF
− OpEx
−$24.9K −$6.11/SF
NOI
$41.5K $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%
$830,560
Cap Rate 7%
$593,257
Cap Rate 9%
$461,422
Alternative Uses
Best Use
Mixed Use
$593.3K
$519.1K – $692.1K
NOI $41,528 @ 7.0% cap · market cap 5.94%
Second Best
Retail
$563.6K
$493.1K – $657.5K
NOI $39,450 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$974.7K
$852.9K – $1.14M
NOI $68,229 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
Dollar Tree
Shops & Services
17,503 visits/mo
0.5 miles
Krispy Krunchy Chicken
Dining
2,535 visits/mo
0.1 miles
Seasons Pizza
Dining
1,233 visits/mo
0.0 miles
Demographics for 19809, DE
14,658
Population
6,531
Households
2.2
Avg Household Size
42
Median Age
45%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
2,156
Density / Sq Mi
$85,988
Median Household Income
$56,266
Median Earnings
$1,373
Median Rent
$308,900
Median Home Value
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Market
Properties on Market for Mixed-use properties in Wilmington
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a leased street-facing commercial area, residential units, and dedicated off-street parking.
Where is this mixed-use property located?
The property is located at 1600 PHILADELPHIA Pike Wilmington, DE.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: More than 4,000 sq ft of mixed‑use space; Main residence with 5 bedrooms and two full bathrooms; Commercial space leased to a print shop on a multi‑year lease
