Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical Office Building For Sale Title is generated by Realmo AI

    1806 N Van Buren St, Wilmington, DE 19802

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    7,010 SF medical office building near I-95.

    Type:Office
    Property size:
    7,010 SF
    Price / SF:
    $156/SF
    Added:
    May 17, 2023
    Days on Market:
    1116
    Last Refresh:
    May 13 at 8:09 pm

    Property Features for 1806 N Van Buren St

    General Information

    Standard status
    Active
    Size
    7,010 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Brian Hopkins

    Listing agent Brian Hopkins License #DE RS-0014330

    Listing office CBRE - Wilmington

    Listing date May 17, 2023

    Source Crexi

    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 CBRE - Wilmington

    HighLights

    • 7,010+\/- SF medical office building with 6,005+\/- SF of rentable office space.
    • Convenient location near I‑95 and Routes 202, 52, and 13.
    • Zoned R‑3.
    • Two‑story brick and block construction.
    • Includes Parcel #26‑014.40‑010 and 26‑014.30‑009.

    Overview

    This is a 7,010 square foot medical office building with 6,005 square feet of rentable office space. The two-story building features brick and block construction. It is zoned R-3 and located near I-95 and Routes 202, 52 and 13.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Map

    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5475549
    Latitude
    39.7575429

    Nearby Similar for Sale

    • $950,000

      Versatile Office Building with Parking

      Multi-tenant office building with private parking in Wilmington, DE.
      2400 W 4TH ST, WILMINGTON, DE 19805
      View Details
    • $439,900
      4,250 SF

      Wilmington Triplex: Investment Opportunity

      Well-maintained triplex in Wilmington with immediate rental income.
      902 N MADISON Street, WILMINGTON, DE 19801
      View Details
    • $395,000
      2,875 SF

      Trinity Vicinity Triplex in Wilmington

      Three 2-bedroom apartments in a vibrant, walkable Wilmington neighborhood.
      801 W 9TH Street, WILMINGTON, DE 19801
      View Details
    • $1,100,000

      Renovated Office Building in Wilmington

      Two-story office building in prime location with flexible suite arrangements.
      1501 N WALNUT Street, WILMINGTON, DE 19801
      View Details
    • $325,000
      2,900 SF

      Detached Triplex with Garage

      Fully detached triplex with two 2-bedroom units and one 1-bedroom unit, plus a garage for potential added utility.
      400 W 21ST Street, WILMINGTON, DE 19802
      View Details
    • $699,000

      Mixed-Use Building in Central Business District

      Three-story mixed-use building with restaurant and residential units.
      919 N ORANGE Street, WILMINGTON, DE 19801
      View Details
    • $475,000
      4,180 SF

      North Market Street Redevelopment Opportunity

      4,180 SF redevelopment opportunity in Wilmington's urban commercial area.
      1701 N MARKET St, Wilmington, DE 19802
      View Details
    • $230,000
      1,800 SF

      Updated Duplex in Wilmington

      Two-unit property with updated electrical systems, suitable for investors.
      1607 W 4TH Street, WILMINGTON, DE 19805
      View Details
    • $550,000

      Renovated Triplex with Updated Interiors

      Renovated triplex offering three updated units with remodeled kitchens and refinished hardwood floors.
      709 W 19TH ST, WILMINGTON, DE 19802
      View Details
    • $895,000

      North Wilmington Commercial Opportunity

      Premium commercial property in North Wilmington with high visibility and accessibility.
      2417 SILVERSIDE RD, WILMINGTON, DE 19810
      View Details
    • $380,000
      2,268 SF

      Corner Retail and Apartment Building

      Corner mixed-use building with salon-ready first floor and two 2-bedroom apartments, fully tenant-occupied.
      837 W 4TH Street, WILMINGTON, DE 19801
      View Details
    • $300,000

      Wilmington Office and Warehouse Space

      Flexible office and warehouse space with secure, fenced yard.
      1517 W 3RD St, Wilmington, DE 19805
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 7,010 SF medical office building near I-95.
    Where is this medical office space located?
    The property is located at 1806 N Van Buren St Wilmington, DE.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: 7,010+\/- SF medical office building with 6,005+\/- SF of rentable office space.; Convenient location near I‑95 and Routes 202, 52, and 13.; Zoned R‑3.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian Hopkins
    Real Estate License ID: DE RS-0014330
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1806 N Van Buren St, Wilmington, DE 19802
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!