Three-Story Mixed-Use Restaurant
1828 West 11th Street Wilmington, DE 19805
1828 West 11th Street, Wilmington, DE, 19805
$399,000
For Sale
$399,000
Fully leased three-story restaurant and multi-family building with an established tenant and convenient access to I-95.
Property Size2,976 SF
Price / SF$134.07
Days on Market48
Property Features for 1828 West 11th Street
General Information
- Standard status
- Active
- Size
- 2,976 SF
- Property subtype
- Retail
Listing Agency
(302) 414-1000
Listed by
Joseph Latina, SIOR
(302) 414-1000
Source
Corfac
Added: Jun 3 Updated: Jul 10 at 1:48 pm Checked: Jul 20 at 6:52 am
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 Joseph Latina, SIOR
Investment Insights
Based on property information with market context.
This three-story freestanding mixed-use building includes a basement and offers approximately 2,976 square feet of space. The property is fully leased with an existing restaurant tenant currently leasing the entire building, creating an income-producing setup for buyers. Its structure is designed to support both restaurant operations and multi-family use within the same asset.
Located along the 11th Street corridor in Wilmington, Delaware, the property benefits from convenient access to I-95 and other major commuter routes. This connectivity supports tenant accessibility and makes the building practical for a wide range of daily uses tied to restaurant activity and residential occupancy.
For investors seeking a stabilized mixed-use asset, the key differentiator here is that the building is already leased in full with a restaurant tenant in place. The combination of three stories plus basement, along with the mixed restaurant and multi-family configuration, provides a straightforward operating framework within a single freestanding property.
Located along the 11th Street corridor in Wilmington, Delaware, the property benefits from convenient access to I-95 and other major commuter routes. This connectivity supports tenant accessibility and makes the building practical for a wide range of daily uses tied to restaurant activity and residential occupancy.
For investors seeking a stabilized mixed-use asset, the key differentiator here is that the building is already leased in full with a restaurant tenant in place. The combination of three stories plus basement, along with the mixed restaurant and multi-family configuration, provides a straightforward operating framework within a single freestanding property.
Key Highlights
- 2,976 +/- SF three‑story freestanding restaurant/multi‑family building with basement
- Fully leased: existing restaurant tenant leases the entire building
- Income‑producing investment property with established restaurant tenant in place
Local Financial Insights For Mixed Use
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 | $56.4k | $18.96 |
| − Vacancy | −$7.9k | −$2.65 |
| EGI | $48.5k | $16.31 |
| − OpEx | −$18.2k | −$6.11 |
| NOI | $30.3k | $10.19 |
2,976 SF · lease $18.96/SF/yr · vacancy 14.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$545.8K
$477.6K – $636.8K
NOI $38,207 @ 7.0% cap · market cap 9.58%
Second Best
Mixed Use
$433.3K
$379.1K – $505.5K
NOI $30,328 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$711.8K
$622.9K – $830.5K
NOI $49,828 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Just to Serve You, ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully leased three-story restaurant and multi-family building with an established tenant and convenient access to I-95.
Where is this mixed-use property located?
The property is located at 1828 West 11th Street Wilmington, DE.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,976 +/- SF three‑story freestanding restaurant/multi‑family building with basement; Fully leased: existing restaurant tenant leases the entire building; Income‑producing investment property with established restaurant tenant in place
