Two-Story Retail Space with Two
403 Maryland Avenue Wilmington, DE 19805
403 Maryland Avenue, Wilmington, DE, 19805
$310,000
For Sale
$310,000
1,967± SF retail space with first-floor barber shop and second-floor hair salon, both currently leased.
Property Size1,967 SF
Price / SF$157.60
Days on Market27
Property Features for 403 Maryland Avenue
General Information
- Standard status
- Active
- Size
- 1,967 SF
- Property subtype
- Retail
Listing agency
(302) 414-1000
Listed by
Joseph Latina, SIOR
(302) 414-1000
Source
Lmtcre
Added: Jun 25 Updated: Jul 21 at 12:38PM Checked: Jul 21 at 12:38PM
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
Investment Insights
Based on property information with market context.
This 1,967± SF retail property at 403 Maryland Avenue is arranged as two distinct levels, with the first floor occupied by a barber shop and the second floor occupied by a hair salon. The space is configured for active retail use and is being sold with both units currently leased.
The building is located just off Interstate 95, providing convenient access and connectivity to surrounding areas. It also offers strong visibility along Maryland Avenue, with AADT 13,833± VPD reported for the corridor.
The building is located just off Interstate 95, providing convenient access and connectivity to surrounding areas. It also offers strong visibility along Maryland Avenue, with AADT 13,833± VPD reported for the corridor.
Key Highlights
- 1,967 +/- SF retail space at 403 Maryland Avenue, currently operating as a barber shop and hair salon
- Both units are leased: first floor occupied by a barber shop and second floor occupied by a hair salon
- Strong visibility along Maryland Avenue with AADT 13,833 +/- VPD
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.5k | $15.00 |
| − Vacancy | −$2.3k | −$1.17 |
| EGI | $27.2k | $13.83 |
| − OpEx | −$8.2k | −$4.15 |
| NOI | $19.0k | $9.68 |
1,967 SF · lease $15.00/SF/yr · vacancy 7.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$272.0K
$238.0K – $317.4K
NOI $19,043 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.5K
$411.7K – $548.9K
NOI $32,934 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Smith JT Insurance ...
Insurance Agency
Similar For Sale Nearby
Similar Off Market Nearby
- Self Care Holistic — 14 S Union St, Wilmington, DE 19805
- Wilmington Florist & Gift Services — 900 wilmington ave, wilmington, de 19805
- Bloomsberry Flowers — 620 S Van Buren St, Wilmington, DE 19805
FAQs
What type of property is this?
Storefront property - 1,967± SF retail space with first-floor barber shop and second-floor hair salon, both currently leased.
Where is this storefront property located?
The property is located at 403 Maryland Avenue Wilmington, DE.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 1,967 +/- SF retail space at 403 Maryland Avenue, currently operating as a barber shop and hair salon; Both units are leased: first floor occupied by a barber shop and second floor occupied by a hair salon; Strong visibility along Maryland Avenue with AADT 13,833 +/- VPD
