Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land For Rent Opportunity Title is generated by Realmo AI

    602 Main St, Wilmington, DE

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Land available for rent, build to suit or ground lease.

    Type:LAND
    Lot size:
    22.21 Acres
    Added:
    Nov 25, 2025
    Days on Market:
    184
    Last Refresh:
    May 19 at 10:09 pm

    Property Features for 602 Main St

    General Information

    Standard status
    Active
    Lot size
    22.21 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 602 Main St Contact us

    We can help!

    Listing Contact
    Robert Wittig, Jr

    Listing agent Robert Wittig, Jr

    Listing office DSM Commercial

    Listing date Nov 25, 2025

    Source Moodyscre

    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 DSM Commercial

    HighLights

    • Build to suit or ground lease opportunity
    • Located adjacent to Walgreen's
    • Located across the street from CVS
    • Property is available for development
    • High‑traffic location
    • Established retail area

    Overview

    This property presents a build-to-suit or ground lease opportunity. The location is adjacent to a Walgreen's and across the street from a CVS.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6504957
    Latitude
    39.7096903

    Nearby Similar for Lease

    • $2,200/Mo

      Versatile Commercial Property in Wilmington

      Two-story commercial property suitable for various uses in Wilmington, DE.
      1803 W 4TH Street, WILMINGTON, DE 19805
      View Details
    • Sponsored
      $129-$7,236/Mo
      11-1,292 SF

      DE, Wilmington - N Market St

      901 Market St, Unit 1ST, Wilmington, DE 19801
      View Details
    • $129-$7,187/Mo
      11-1,292 SF

      Downtown

      1000 West St, Unit 1200, Wilmington, DE 19801
      View Details
    • $12 SF/Yr
      8,500 SF

      High-Visibility Office Space Available

      Turnkey office space for lease on a high-visibility corridor.
      3200 CONCORD Pike, Wilmington, DE 19803
      View Details
    • $999/Mo
      1,100 SF

      Flexible Commercial Space Available Now

      Prime commercial space for lease in a convenient location.
      5201 W WOODMILL Drive, WILMINGTON, DE 19808
      View Details
    • $28 SF/Yr
      5,042 SF

      High-Visibility Retail Space Available

      Retail space with high traffic and modern build-outs.
      4555 Kirkwood Highway, Wilmington, DE 19808
      View Details
    • $32 SF/Yr
      6,317 SF

      Restaurant Space in Brandywine Commons

      Freestanding 6,317 SF restaurant space for lease.
      307 Rocky Run Pkwy, Wilmington, DE 19803
      View Details
    • $4,400/Mo
      2,200 SF

      Kirkwood Highway Office Suites Available

      Office suites for lease with easy access to major routes.
      4708 Kirkwood Highway, Wilmington, DE 19808
      View Details
    • $26 SF/Yr
      1,880 SF

      Medical Office Space Available

      Prime medical commercial property with leasing opportunities in Wilmington, DE.
      2700 Silverside Rd, Wilmington, DE 19810
      View Details
    • $22 SF/Yr
      1,754 SF

      Furnished Office Suite For Lease

      Furnished office suite with reception, kitchen, and parking.
      3522 Silverside Road, Wilmington, DE 19803
      View Details
    • $1,250/Mo
      770 SF

      Downtown Wilmington Retail Storefront

      Adaptable 770 SF retail space in downtown Wilmington.
      800 North Orange Street, Wilmington, DE 19801
      View Details
    • $2,200/Mo

      Wilmington Commercial Property with Residence

      Versatile commercial space with optional 2-bedroom residential unit.
      1803 W 4TH St, Wilmington, DE 19805
      View Details

    FAQs

    What type of property is this?
    Land - Land available for rent, build to suit or ground lease.
    Where is this land located?
    The property is located at 602 Main St Wilmington, DE.
    What are key features of this property?
    This property features: Build to suit or ground lease opportunity; Located adjacent to Walgreen's; Located across the street from CVS
    (302) 530-1422 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Wittig, Jr
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    602 Main St, Wilmington, DE
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!