Mixed-Use Property with Loft
For Sale
$425,000
38 Clinton St, Delaware City, DE 19706
Ground-floor retail pairs with a two-bedroom residential unit and private rear outdoor space.
Property Size2,475 SF
Price / SF$171.72
Days on Market60
Property Features for 38 Clinton St
General Information
Standard status
Active
Size
2,475 SF
Amenities
private backyard
storage shed
side balcony
exterior staircase
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Northrop Realty
Listed By:
Noah Crofton Bates
(302) 563-1877
Source:
Premierehomegroup
Added: Aug 16
Changed: Sep 13
Last Checked: Oct 7 at 2:22PM
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 Northrop Realty
Investment Insights
Based on property information with market context.
Located at 38 Clinton St on Merchant’s Row in Delaware City, this mixed-use property combines a first-floor retail suite with an upper-level residence. The retail space is occupied by Yellow Door Spa. The residential unit features exposed brick, hardwood floors, exposed beams, tall windows, and an open kitchen and living area. Stainless steel appliances, a center island with butcher block breakfast bar, pendant lighting, custom millwork, and built-in headboard details add functional and architectural character. The apartment includes two bedrooms and one full bath.
The residence also provides access to a private backyard with gardening space and a small storage shed. A side balcony and exterior staircase connect the apartment to the rear yard. Delaware City offers walkable streets, waterfront dining, boutique shopping, biking, boating, hiking, and community events, with access to Fort Delaware State Park and Fort DuPont. A separately listed vacant parcel borders the property but is not included in the sale.
The residence also provides access to a private backyard with gardening space and a small storage shed. A side balcony and exterior staircase connect the apartment to the rear yard. Delaware City offers walkable streets, waterfront dining, boutique shopping, biking, boating, hiking, and community events, with access to Fort Delaware State Park and Fort DuPont. A separately listed vacant parcel borders the property but is not included in the sale.
Key Highlights
- Mixed‑use building with first‑floor retail and an upper‑level residential unit
- First‑floor retail space is occupied by Yellow Door Spa
- Two‑bedroom apartment with one full bath and open kitchen‑living layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,711
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$674,220
$674.2K
Cap Rate 7%
$481,586
$481.6K
Cap Rate 9%
$374,567
$374.6K
Market Conditions
NOI Build-Up for 2,475 SF
Gross rent
$55.8K $22.56/SF
− Vacancy
−$10.9K −$4.40/SF
EGI
$44.9K $18.16/SF
− OpEx
−$11.2K −$4.54/SF
NOI
$33.7K $13.62/SF
Area
New Castle County, DE
Vacancy
19.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$674,220
Cap Rate 7%
$481,586
Cap Rate 9%
$374,567
Alternative Uses
Best Use
Office B
$481.6K
$421.4K – $561.9K
NOI $33,711 @ 7.0% cap · market cap 7.93%
Second Best
Mixed Use
$360.3K
$315.3K – $420.4K
NOI $25,223 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$592.0K
$518.0K – $690.7K
NOI $41,440 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 19706, DE
1,938
Population
774
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
2.5 sq mi
ZIP Area
775
Density / Sq Mi
$77,143
Median Household Income
$48,929
Median Earnings
$1,420
Median Rent
$244,600
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?
Mixed-use property - Ground-floor retail pairs with a two-bedroom residential unit and private rear outdoor space.
Where is this mixed-use property located?
The property is located at 38 Clinton St Delaware City, DE.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Mixed‑use building with first‑floor retail and an upper‑level residential unit; First‑floor retail space is occupied by Yellow Door Spa; Two‑bedroom apartment with one full bath and open kitchen‑living layout
