1601 Jessup St Wilmington, DE 19802
1601 Jessup St, Wilmington, DE, 19802
Contact for pricing
For Sale
Contact for pricing
Flex space
Property Size20,000 SF
Price / SF$100
Days on Market108
Property Features for 1601 Jessup St
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Property subtype
- Industrial, Mixed Use, Office
Listing agency
Investment Property Sercives
(302) 994-3907
Listed by
Domenick Michini · License #RS-0015442
Source
Crexi
Added: Apr 5 Updated: Jul 21 at 12:16AM Checked: Jul 21 at 5:17AM
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 Investment Property Sercives
Investment Insights
Based on property information with market context.
Key Highlights
- 20,000+ SF two‑story masonry industrial/flex building in Wilmington, DE with warehouse, office, and potential retail/event space
- Warehouse space on both floors plus office suites, conference areas, and elevator/lift access between floors
- Dock loading and drive‑in capability with 3‑phase power for industrial‑ready operations
Local Financial Insights For Industrial
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 | $180.0k | $9.00 |
| − Vacancy | −$18.9k | −$0.95 |
| EGI | $161.1k | $8.06 |
| − OpEx | −$48.3k | −$2.42 |
| NOI | $112.8k | $5.64 |
20,000 SF · lease $9.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$3.89M
$3.41M – $4.54M
NOI $272,412 @ 7.0% cap · market cap 13.62%
Second Best
Flex RnD
$2.71M
$2.37M – $3.16M
NOI $189,844 @ 7.0% cap · market cap 9.49%
Theoretical Best
Office A
$4.78M
$4.19M – $5.58M
NOI $334,867 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Rarehouse Studios & Creative ...
Arts Organization
The Dahlia
Hotel & Motel
Masley Gloves
(Bike/Boat/Book/etc) Store
Ark Technology Consultants
Tech Support Center
Similar For Sale Nearby
Similar Off Market Nearby
- Akwaaba Eats — 900 Washington St, Wilmington, DE 19801
- Sum2Eat — 2810 N Church St #659120, Wilmington, DE 19802
FAQs
Where is this flex space located?
The property is located at 1601 Jessup St Wilmington, DE.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 20,000+ SF two‑story masonry industrial/flex building in Wilmington, DE with warehouse, office, and potential retail/event space; Warehouse space on both floors plus office suites, conference areas, and elevator/lift access between floors; Dock loading and drive‑in capability with 3‑phase power for industrial‑ready operations
