Three-Story Mixed-Use
For Sale
$415,000
712 N MARKET St, Wilmington, DE 19801
Street-level retail space combines with flexible upper-floor areas, private office space, and extensive basement storage.
Property Size3,875 SF
Price / SF$107.10
Days on Market154
Property Features for 712 N MARKET St
General Information
Standard status
Active
Size
3,875 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,598
Amenities
built-in wall displays
secure locking cases
cash wrap
dual display windows
dedicated stock area
private rear office
half baths
full basement
Building Details
Year Built
1953
Year Renovated
1938
Buildings
1
Stories
3
Building Size
3,875 SF
Construction
Art Deco
Listing Agency:
KW Empower
(610) 513-4072
Listed By:
Zachary Cohen · License #RS351054
(610) 513-4072
Source:
Elliman
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 30 at 8:43PM
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 KW Empower
Investment Insights
Based on property information with market context.
This three-story mixed-use property at 712 N Market St in Wilmington, Delaware, provides approximately 3,875 square feet of commercial space across a retail-oriented ground floor and adaptable upper levels. The main floor includes built-in wall displays, locking cases, a cash wrap, two entrance display windows, a stock area, and a private rear office. Each upper floor offers open-plan space with a half bath, while the full basement adds substantial storage capacity.
The property sits within a dense commercial setting that includes retail businesses, restaurants, office buildings, and hotels. Public transit is nearby, with access connections to I-95 and Route 13. The building’s combination of storefront functionality, open upper-floor layouts, and below-grade storage supports a range of mixed-use commercial configurations.
The property sits within a dense commercial setting that includes retail businesses, restaurants, office buildings, and hotels. Public transit is nearby, with access connections to I-95 and Route 13. The building’s combination of storefront functionality, open upper-floor layouts, and below-grade storage supports a range of mixed-use commercial configurations.
Key Highlights
- Approximately 3,875 SF three‑story commercial building
- Street‑level retail area with two display windows, built‑in displays, locking cases, and cash wrap
- Open second- and third‑floor areas, each with a half bath
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
$37,514
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
9.04%
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%
$750,280
$750.3K
Cap Rate 7%
$535,914
$535.9K
Cap Rate 9%
$416,822
$416.8K
Market Conditions
NOI Build-Up for 3,875 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
$58.1K $15.00/SF
− Vacancy
−$4.5K −$1.17/SF
EGI
$53.6K $13.83/SF
− OpEx
−$16.1K −$4.15/SF
NOI
$37.5K $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 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%
$750,280
Cap Rate 7%
$535,914
Cap Rate 9%
$416,822
Alternative Uses
Best Use
Office B
$754.0K
$659.8K – $879.7K
NOI $52,780 @ 7.0% cap · market cap 12.72%
Second Best
Mixed Use
$564.1K
$493.6K – $658.2K
NOI $39,490 @ 7.0% cap · market cap 9.52%
Theoretical Best
Office A
$926.9K
$811.0K – $1.08M
NOI $64,881 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,565
Businesses Nearby
Explore this area
Business Placement
Demographics for 19801, DE
16,219
Population
9,390
Households
1.7
Avg Household Size
34
Median Age
26%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
3,686
Density / Sq Mi
$44,505
Median Household Income
$36,684
Median Earnings
$1,126
Median Rent
$196,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail space combines with flexible upper-floor areas, private office space, and extensive basement storage.
Where is this mixed-use property located?
The property is located at 712 N MARKET St Wilmington, DE.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Approximately 3,875 SF three‑story commercial building; Street‑level retail area with two display windows, built‑in displays, locking cases, and cash wrap; Open second- and third‑floor areas, each with a half bath
