Medical Office Building Near
For Sale
$1,100,000
1806 North Van Buren Street, Wilmington, DE 19802
7,010 SF medical office building near I-95.
Property Size7,010 SF
Price / SF$156.92
Days on Market205
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Property Features for 1806 North Van Buren Street
General Information
Standard status
Active
Size
7,010 SF
Property subtype
Healthcare
Listing Agency:
CBRE | Wilmington
Listed By:
Brian Hopkins · License #RS-0014330
(302) 661-6712
Source:
Cbre
Added: Mar 25
Changed: Oct 5
Last Checked: Oct 14 at 10:19PM
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
Investment Insights
Based on property information with market context.
This is a 7,010 square foot medical office building with 6,005 square feet of rentable office space. The building is a two-story structure constructed with brick and block. It is zoned R-3 and located near I-95 and Routes 202, 52 and 13.
Key Highlights
- Located near I‑95 and Routes 202, 52 and 13
- 7,010+\/- SF medical office building**
- 6,005+\/- SF of rentable office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,133
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,022,660
$2.0M
Cap Rate 7%
$1,444,757
$1.4M
Cap Rate 9%
$1,123,700
$1.1M
Market Conditions
NOI Build-Up for 7,010 SF
Gross rent
$192.6K $27.48/SF
− Vacancy
−$24.1K −$3.44/SF
EGI
$168.6K $24.05/SF
− OpEx
−$67.4K −$9.62/SF
NOI
$101.1K $14.43/SF
Area
New Castle County, DE
Vacancy
12.50%
Lease Rate
$27.48 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,022,660
Cap Rate 7%
$1,444,757
Cap Rate 9%
$1,123,700
Alternative Uses
Best Use
Healthcare Medical
$1.44M
$1.26M – $1.69M
NOI $101,133 @ 7.0% cap · market cap 9.19%
Second Best
Office B
$1.36M
$1.19M – $1.59M
NOI $95,480 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,371 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,685
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19802, DE
26,189
Population
11,596
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
89%
High-School Grad
3.5 sq mi
ZIP Area
7,483
Density / Sq Mi
$54,370
Median Household Income
$39,579
Median Earnings
$1,236
Median Rent
$188,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- At Home Pet Vet Care — 1201 Orange St #700, Wilmington, DE 19801
- Kentmere Veterinary Hospital — 1710 Lovering Ave, Wilmington, DE 19806
Frequently Asked Questions
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 North Van Buren Street 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: Located near I‑95 and Routes 202, 52 and 13; 7,010+\/- SF medical office building**; 6,005+\/- SF of rentable office space
