Three-Story Mixed-Use Restaurant
For Sale
$399,000
1828 West 11th Street, Wilmington, DE 19805
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 Market139
Property Features for 1828 West 11th Street
General Information
Standard status
Active
Size
2,976 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Building Size
2,976 SF
Stories
3
Tenancy
Single
Listed By:
Joseph Latina, SIOR
(302) 414-1000
Source:
Lmtcre
Added: Jun 3
Changed: Oct 14
Last Checked: Oct 19 at 5:21AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,328
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$606,560
$606.6K
Cap Rate 7%
$433,257
$433.3K
Cap Rate 9%
$336,978
$337.0K
Market Conditions
NOI Build-Up for 2,976 SF
Gross rent
$56.4K $18.96/SF
− Vacancy
−$7.9K −$2.65/SF
EGI
$48.5K $16.31/SF
− OpEx
−$18.2K −$6.11/SF
NOI
$30.3K $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 Rate 5%
$606,560
Cap Rate 7%
$433,257
Cap Rate 9%
$336,978
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 authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,720
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Dining 34%
Groceries 23%
ACME Markets
Groceries
21,617 visits/mo
0.3 miles
Shell
Shops & Services
10,378 visits/mo
0.1 miles
Dollar Tree
Shops & Services
10,064 visits/mo
0.2 miles
Dunkin' Donuts
Dining
9,628 visits/mo
0.1 miles
Grotto Pizza
Dining
9,008 visits/mo
0.2 miles
Demographics for 19805, DE
39,985
Population
17,281
Households
2.3
Avg Household Size
35
Median Age
23%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
7,270
Density / Sq Mi
$56,708
Median Household Income
$38,043
Median Earnings
$1,203
Median Rent
$220,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
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
