Mixed-Use Building with
825 N Market Street, Wilmington, DE 19801
For Sale
$895,000
Six-unit configuration pairs a restaurant space with five apartments in downtown Wilmington.
Property Size4,500 SF
Days on Market12
Property Features for 825 N Market Street
General Information
Standard status
Size
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Opportunity Zone
Commercial Hood
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Electric
Yes
Public
19.50 x 60.00
0.03
No
Assessor
On Street,Off Site,Private Garage,Public Garage
4500.00
258000.00
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Tesla Realty Group, LLC
(844) 837-5274
Listed By:
Yasmin Bowman
Source:
Chennaultrealestate
Added: Oct 30
Changed: Nov 10
Last Checked: Nov 9 at 5:30PM
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 Tesla Realty Group, LLC
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Investment Insights
Based on property information with market context.
At 825 N. Market Street, this mixed-use property combines a street-level restaurant unit with five apartments above. The residential mix includes one two-bedroom apartment, three one-bedroom apartments, and a studio. The commercial space measures approximately 938 SF and has a lease in place through 2028. Zoning is 26C-3.
The property is directly across from the Grand Opera House in downtown Wilmington. Each unit has individually allocated HVAC and a water heater. Tenants pay utilities except for cold water and sewer. A new roof and restaurant exhaust hood and stack were installed in 2021.
The property is directly across from the Grand Opera House in downtown Wilmington. Each unit has individually allocated HVAC and a water heater. Tenants pay utilities except for cold water and sewer. A new roof and restaurant exhaust hood and stack were installed in 2021.
Key Highlights
- Six units: one restaurant space and five apartments
- Apartment mix includes one 2BR, three 1BR units, and one studio
- Restaurant space is approximately 938 SF, with a lease in place through 2028
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,860
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$917,200
$917.2K
Cap Rate 7%
$655,143
$655.1K
Cap Rate 9%
$509,556
$509.6K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$85.3K $18.96/SF
− Vacancy
−$11.9K −$2.65/SF
EGI
$73.4K $16.31/SF
− OpEx
−$27.5K −$6.11/SF
NOI
$45.9K $10.19/SF
Area
New Castle County, DE
Vacancy
14.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$917,200
Cap Rate 7%
$655,143
Cap Rate 9%
$509,556
Alternative Uses
Best Use
Mixed Use
$655.1K
$573.3K – $764.3K
NOI $45,860 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$608.9K
$532.8K – $710.4K
NOI $42,624 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$1.08M
$941.8K – $1.26M
NOI $75,345 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Commercial hood
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Mixed-use properties in Wilmington
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six-unit configuration pairs a restaurant space with five apartments in downtown Wilmington.
Where is this mixed-use property located?
The property is located at 825 N Market Street Wilmington, DE.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Six units: one restaurant space and five apartments; Apartment mix includes one 2BR, three 1BR units, and one studio; Restaurant space is approximately 938 SF, with a lease in place through 2028
