Air-Conditioned
For Sale
Contact for pricing
3007 Bellevue Ave, Wilmington, DE 19802
M1-zoned warehouse with a loading dock, air conditioning, and a new roof dated 12/24.
Property Size12,700 SF
Lot Size0.44 Acres
Price / SF$101.57
Days on Market533
Property Features for 3007 Bellevue Ave
General Information
Standard status
Active
Size
12,700 SF
Lot size
0.44 Acres
Property subtype
INDUSTRIAL
Zoning
M1
Warehouse & Industrial
Warehouse Space
12,700 SF
Dock-High Doors
1
Conditioned Warehouse
Yes
Additional Details
Opportunity Zone
Yes
Building Details
Building Size
12,700 SF
Listing Agency:
Patterson Woods Commercial Properties
(302) 622-3500
Listed By:
Dan Lesher
(302) 559-9585
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Aug 29
Last Checked: Sep 2 at 12:32AM
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 Patterson Woods Commercial Properties
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.
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 = 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
$99,228
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
7.67%
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%
$1,984,560
$2.0M
Cap Rate 7%
$1,417,543
$1.4M
Cap Rate 9%
$1,102,533
$1.1M
Market Conditions
NOI Build-Up for 12,740 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
$126.9K $9.96/SF
− Vacancy
−$10.2K −$0.80/SF
EGI
$116.7K $9.16/SF
− OpEx
−$17.5K −$1.37/SF
NOI
$99.2K $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 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%
$1,984,560
Cap Rate 7%
$1,417,543
Cap Rate 9%
$1,102,533
Alternative Uses
Best Use
Warehouse
$1.42M
$1.24M – $1.65M
NOI $99,228 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,310 @ 7.0% cap · market cap 16.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Sentinel Self Storage - Wilmington, DE — 333 E Lea Blvd, Wilmington, DE 19802
- Delaware Depository — 3601 N Market St, Wilmington, DE 19802
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
