Multi-Garage Storage
For Sale
$179,000
820 E 22nd St, Wilmington, DE 19802
Sale includes 12 individually updated garages across three parcels with solar-powered interior lighting.
Property Size2,000 SF
Price / SF$89.50
Days on Market97
Property Features for 820 E 22nd St
General Information
Standard status
Active
Size
2,000 SF
Building Details
Year Built
2000
Listing Agency:
Coldwell Banker Realty
Listed By:
Casey Riffel · License #RS0026139
(302) 476-5498
Source:
Soldbypattie
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 7 at 3:18PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This offering includes 12 individual garages sold as part of three separate parcels. Each garage has been freshly updated with painted floors and solar-powered interior lighting, creating clean, functional storage space available for immediate use or rental. Eleven of the garages are currently vacant, with one tenant in place.
Designed for flexible storage use, the garages can accommodate items such as vehicles, contractor equipment, business inventory, or personal storage. The bikeScore and walkScore indicate a more car-dependent setting, while transitScore reflects good access to public transportation.
The sale is structured to include all garages and the three associated parcels, offering a low-maintenance format for investors or an owner-user seeking controllable, discrete storage units.
Designed for flexible storage use, the garages can accommodate items such as vehicles, contractor equipment, business inventory, or personal storage. The bikeScore and walkScore indicate a more car-dependent setting, while transitScore reflects good access to public transportation.
The sale is structured to include all garages and the three associated parcels, offering a low-maintenance format for investors or an owner-user seeking controllable, discrete storage units.
Key Highlights
- 12 individually updated garages for sale across three separate parcels
- Solar‑powered interior lighting installed in each garage
- Freshly painted floors in all garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,577
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,540
$311.5K
Cap Rate 7%
$222,529
$222.5K
Cap Rate 9%
$173,078
$173.1K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$19.9K $9.96/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$18.3K $9.16/SF
− OpEx
−$2.7K −$1.37/SF
NOI
$15.6K $7.79/SF
Area
New Castle County, DE
Vacancy
8.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,540
Cap Rate 7%
$222,529
Cap Rate 9%
$173,078
Alternative Uses
Best Use
Self Storage
$262.5K
$229.7K – $306.3K
NOI $18,378 @ 7.0% cap · market cap 10.27%
Second Best
Warehouse
$222.5K
$194.7K – $259.6K
NOI $15,577 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$478.4K
$418.6K – $558.1K
NOI $33,487 @ 7.0% cap · market cap 18.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
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Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - Sale includes 12 individually updated garages across three parcels with solar-powered interior lighting.
Where is this self storage facility located?
The property is located at 820 E 22nd St Wilmington, DE.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 12 individually updated garages for sale across three separate parcels; Solar‑powered interior lighting installed in each garage; Freshly painted floors in all garages
