Building Details

Building Size 12,740 SF

Year Built 1949

Listing Agency: Patterson Woods Commercial Properties

Listed By: Dan Lesher Show Phone

Source: Pattersonwoods

Added: Jul 27 Changed: Oct 6 Last Checked: Oct 16 at 7:03AM

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Investment Insights

Based on property information with market context.

This warehouse occupies a .44-acre site within an M1 zoning designation. The building includes air conditioning, a loading dock, and a new roof dated 12/24, supporting a range of warehouse and industrial operations.

The property is located within an Opportunity Zone. An additional adjacent .47 acres is also available, offering a separate land component for consideration alongside the warehouse.

Key Highlights

• M1‑zoned warehouse on .44 acres
• Air conditioning in the warehouse
• New roof dated 12/24

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$98,917

Cap Rate

7.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,978,340 $2.0M

Cap Rate 7%

$1,413,100 $1.4M

Cap Rate 9%

$1,099,078 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,700 SF

Gross rent

$126.5K $9.96/SF

− Vacancy

−$10.1K −$0.80/SF

EGI

$116.4K $9.16/SF

− OpEx

−$17.5K −$1.37/SF

NOI

$98.9K $7.79/SF

Area

New Castle County, DE

Vacancy

8.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,978,340

Cap Rate 7%

$1,413,100

Cap Rate 9%

$1,099,078

Alternative Uses

Best Use

Warehouse

$1.41M

$1.24M – $1.65M (±1% cap)

NOI $98,917 @ 7.0% cap · market cap 7.64%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.04M

$2.66M – $3.54M (±1% cap)

NOI $212,641 @ 7.0% cap · market cap 16.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mercantile Press Marketing & Advertising

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Parking Lot & Garage Bakery Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Dock-high doors

Location Intelligence

Trade Area within ½ mile

647

Businesses Nearby

Balanced

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - M1-zoned warehouse with a loading dock, air conditioning, and a new roof dated 12/24.

Where is this warehouse located?

The property is located at 3007 Bellevue Ave Wilmington, DE.

What is the asking price?

The asking price for this property is $1,294,000.

What are key features of this property?

This property features: M1‑zoned warehouse on .44 acres; Air conditioning in the warehouse; New roof dated 12/24