Three-Building Mixed-Use
For Sale
$1,450,000
1719 1719-23 Delaware Ave, Wilmington, DE 19806
Office, retail, salon, and residential components are paired with on-site parking in an urban Wilmington setting.
Property Size11,376 SF
Price / SF$127.46
Days on Market23
Property Features for 1719 1719-23 Delaware Ave
General Information
Standard status
Active
Size
11,376 SF
Building Details
Year Built
1986
Buildings
3
Tenancy
Multi
Listing Agency:
Pantano Real Estate Inc
(302) 888-0300
Listed By:
Paul M Pantano · License #RB-0002776
Source:
Kandorre
Added: Aug 7
Changed: Aug 28
Last Checked: Aug 24 at 9:38AM
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 Pantano Real Estate Inc
Investment Insights
Based on property information with market context.
This mixed-use assemblage comprises three buildings totaling 11,376 square feet. The 1986 property includes a newer purpose-built office structure at 1719 Delaware Avenue with four levels of workspace, including a lower level. Additional buildings at 1721 and 1732 Delaware Avenue contain retail tenancy, salon space, and a residential dwelling unit, providing a range of established commercial and residential components within one offering.
The property includes on-site parking and additional off-site parking nearby. It is situated in Wilmington’s Trolley Square/Forty Acres district and falls within the Forty Acres Neighborhood Conservation District, a designation by the City of Wilmington. The Delaware Avenue address places the assemblage within an established urban neighborhood with multiple use types represented across the buildings.
The property includes on-site parking and additional off-site parking nearby. It is situated in Wilmington’s Trolley Square/Forty Acres district and falls within the Forty Acres Neighborhood Conservation District, a designation by the City of Wilmington. The Delaware Avenue address places the assemblage within an established urban neighborhood with multiple use types represented across the buildings.
Key Highlights
- Three‑building assemblage totaling 11,376 SF
- 1986 construction with a four‑level office building, including a lower level
- Retail tenancy, salon space, and a residential dwelling unit across the assemblage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$115,933
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,318,660
$2.3M
Cap Rate 7%
$1,656,186
$1.7M
Cap Rate 9%
$1,288,144
$1.3M
Market Conditions
NOI Build-Up for 11,376 SF
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.
Gross rent
$215.7K $18.96/SF
− Vacancy
−$30.2K −$2.65/SF
EGI
$185.5K $16.31/SF
− OpEx
−$69.6K −$6.11/SF
NOI
$115.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,318,660
Cap Rate 7%
$1,656,186
Cap Rate 9%
$1,288,144
Alternative Uses
Best Use
Office B
$2.21M
$1.94M – $2.58M
NOI $154,948 @ 7.0% cap · market cap 10.69%
Second Best
Mixed Use
$1.66M
$1.45M – $1.93M
NOI $115,933 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,472 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,457
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?
Mixed-use property - Office, retail, salon, and residential components are paired with on-site parking in an urban Wilmington setting.
Where is this mixed-use property located?
The property is located at 1719 1719-23 Delaware Ave Wilmington, DE.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Three‑building assemblage totaling 11,376 SF; 1986 construction with a four‑level office building, including a lower level; Retail tenancy, salon space, and a residential dwelling unit across the assemblage
