Historic Mixed-Use Building with
For Sale
$695,000
240 E CAMDEN WYOMING AVENUE, Camden, DE 19934
Storefront-ready first floor with handicap-accessible entry and a full second-floor apartment, plus expansive private parking.
Property Size2,688 SF
Days on Market77
Property Features for 240 E CAMDEN WYOMING AVENUE
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Retail
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,144
Building Details
Building Size
2,688 SF
Year Built
1950
Stories
2
Listing Agency:
First Class Properties
Listed By:
Audrey Ellen Wagamon · License #RB-0020412
(302) 331-1043
Source:
Barnesrealestatecompany
Added: Jul 10
Changed: Sep 23
Last Checked: Sep 22 at 9:45PM
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 First Class Properties
Investment Insights
Based on property information with market context.
This historic mixed-use property combines retail/professional space with a full second-floor apartment. The first floor is designed to support retail, professional office, or service-based businesses and includes display or office areas, kitchen facilities, and a bathroom. A handicap-accessible entry is provided with both a front ramp and convenient access from the parking lot. The second floor features a complete apartment with a kitchen, full bathroom, and laundry area.
The property is located in the Camden-Wyoming area, just one block from Route 13, with an expansive private parking lot for customer or tenant access. The original foundation dates to 1856 and is believed to have ties to the Underground Railroad. Construction includes wooden rails and dowel craftsmanship, reinforced with concrete block construction.
With two distinct levels, the layout supports a range of occupancy approaches, including rental income, owner occupancy, or conversion of the second floor into additional office or retail space, depending on your goals.
The property is located in the Camden-Wyoming area, just one block from Route 13, with an expansive private parking lot for customer or tenant access. The original foundation dates to 1856 and is believed to have ties to the Underground Railroad. Construction includes wooden rails and dowel craftsmanship, reinforced with concrete block construction.
With two distinct levels, the layout supports a range of occupancy approaches, including rental income, owner occupancy, or conversion of the second floor into additional office or retail space, depending on your goals.
Key Highlights
- Year built 1950 with historic original foundation dating to 1856, with reported Underground Railroad ties
- Storefront‑ready first floor with display/office/service space, kitchen, bathroom, and handicap‑accessible entry
- Handicap‑accessible front ramp plus convenient access from the expansive private parking lot
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
$36,513
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
5.25%
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%
$730,260
$730.3K
Cap Rate 7%
$521,614
$521.6K
Cap Rate 9%
$405,700
$405.7K
Market Conditions
NOI Build-Up for 2,688 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
$62.6K $23.28/SF
− Vacancy
−$13.9K −$5.17/SF
EGI
$48.7K $18.11/SF
− OpEx
−$12.2K −$4.53/SF
NOI
$36.5K $13.58/SF
Area
Kent County, DE
Vacancy
22.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
25.00%
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%
$730,260
Cap Rate 7%
$521,614
Cap Rate 9%
$405,700
Alternative Uses
Best Use
Office B
$521.6K
$456.4K – $608.6K
NOI $36,513 @ 7.0% cap · market cap 5.25%
Second Best
Mixed Use
$495.4K
$433.5K – $578.0K
NOI $34,679 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$676.9K
$592.3K – $789.7K
NOI $47,380 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 19934, DE
14,243
Population
5,318
Households
2.7
Avg Household Size
41
Median Age
35%
College-Educated
92%
High-School Grad
46.6 sq mi
ZIP Area
306
Density / Sq Mi
$79,100
Median Household Income
$40,474
Median Earnings
$1,510
Median Rent
$311,200
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Storefront-ready first floor with handicap-accessible entry and a full second-floor apartment, plus expansive private parking.
Where is this live-work space located?
The property is located at 240 E CAMDEN WYOMING AVENUE Camden, DE.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Year built 1950 with historic original foundation dating to 1856, with reported Underground Railroad ties; Storefront‑ready first floor with display/office/service space, kitchen, bathroom, and handicap‑accessible entry; Handicap‑accessible front ramp plus convenient access from the expansive private parking lot
