Corner Retail
New
For Sale
Contact for pricing
501 Vandever Avenue, Wilmington, DE 19802
Ground-level space offers storefront exposure on two streets and a layout suited to retail or service operations.
Property Size1,056 SF
Price / SF$0.01
Days on Market1
Property Features for 501 Vandever Avenue
General Information
Standard status
Active
Size
1,056 SF
Property subtype
Retail
Zoning
26C-2 - Secondary Business Comm Center
Lease Term
NNN
Additional Details
Floor
Ground
Corner Location
Yes
Building Details
Building Size
1,056 SF
Properties For Sale
at 501 Vandever Avenue
501 Vandever Avenue
Size
1,056 SF
Term
Negotiable
Listed By:
Joseph Latina, SIOR
(302) 414-1000
Source:
Lmtcre
Added: Oct 19
Last Checked: Oct 19 at 2:41PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,056 SF ground-floor retail space occupies a corner at Vandever Avenue and Jessup Street in Wilmington. Its existing layout was used for a barbershop and can support other retail or service uses. Storefront exposure extends along both street sides.
The property is within a residential and commercial area, with access to downtown Wilmington, Market Street, and major transportation routes. Zoning is 26C-2, Secondary Business Comm Center.
The property is within a residential and commercial area, with access to downtown Wilmington, Market Street, and major transportation routes. Zoning is 26C-2, Secondary Business Comm Center.
Key Highlights
- 1,056 +/- SF of ground‑floor retail space
- Corner position at Vandever Avenue and Jessup Street
- Storefront exposure along two streets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,223
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,460
$204.5K
Cap Rate 7%
$146,043
$146.0K
Cap Rate 9%
$113,589
$113.6K
Market Conditions
NOI Build-Up for 1,056 SF
Gross rent
$15.8K $15.00/SF
− Vacancy
−$1.2K −$1.17/SF
EGI
$14.6K $13.83/SF
− OpEx
−$4.4K −$4.15/SF
NOI
$10.2K $9.68/SF
Area
New Castle County, DE
Vacancy
7.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,460
Cap Rate 7%
$146,043
Cap Rate 9%
$113,589
Alternative Uses
Best Use
Retail
$146.0K
$127.8K – $170.4K
NOI $10,223 @ 7.0% cap · market cap 68,153.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$252.6K
$221.0K – $294.7K
NOI $17,681 @ 7.0% cap · market cap 117,873.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,774
Businesses Nearby
41k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 29%
Hotels & Casinos 7%
Electronics 7%
Popeyes Louisiana Kitchen
Dining
8,037 visits/mo
0.5 miles
Dollar Tree
Shops & Services
6,528 visits/mo
0.5 miles
Sunoco
Shops & Services
6,338 visits/mo
0.5 miles
Dollar General
Shops & Services
6,279 visits/mo
0.5 miles
Residence Inn Wilmington Downtown
Hotels & Casinos
3,057 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Ground-level space offers storefront exposure on two streets and a layout suited to retail or service operations.
Where is this retail space located?
The property is located at 501 Vandever Avenue Wilmington, DE.
What are key features of this property?
This property features: 1,056 +/- SF of ground‑floor retail space; Corner position at Vandever Avenue and Jessup Street; Storefront exposure along two streets
