Wilmington Mixed-Use Investment
For Sale
$375,000
837 W 4TH ST, Wilmington, DE 19801
Profitable mixed-use property with strong rental history in Wilmington.
Property Size2,268 SF
Price / SF$165.34
Days on Market197
Property Features for 837 W 4TH ST
General Information
Standard status
Active
Size
2,268 SF
Property subtype
Multi-Family
Listing Agency:
Keller Williams Realty Wilmington
(302) 299-1100
Listed By:
Kenneth Van Every · License #RS0022242
(302) 529-1857
Source:
Hostetterrealty
Added: Apr 24
Changed: Oct 25
Last Checked: Nov 6 at 8:10AM
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 Keller Williams Realty Wilmington
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Investment Insights
Based on property information with market context.
This mixed-use investment property is located in Wilmington and offers a first-floor business tenant space, currently configured as a hair salon, along with two 2-bedroom apartments. The property has a strong rental history and generates approximately $4,000 per month in total rents. The first floor is designed for salon use, featuring a visible entrance with signage, a waiting area, a main salon area, two wash stations, and a private styling studio, plus a half bathroom. The apartments are accessed through a side entrance on Adams Street. The second-floor apartment is currently occupied by a tenant who pays $1,200 per month and covers electric and gas. It includes two bedrooms with closets, an updated bathroom, a kitchen with counter space, a refrigerator, cabinetry, and a living room with natural light. The third-floor apartment has a similar layout, is vacant, and has been updated with new paint and flooring. Estimated rent is $1,200 per month. The basement contains separate utilities for each unit, including four electrical panels, three hot water heaters, and three gas furnaces. The property is located near the central business district, shopping, dining, convenience stores, transportation, the train station, bus routes, and other amenities. The property has a bike score of 53, a walk score of 86, and a transit score of 58.
Key Highlights
- Strong income potential with approximately $4,000 total monthly rent.
- Profitable mixed‑use property featuring a first‑floor commercial space (hair salon) and two 2‑bedroom apartments.
- Many major systems replaced in recent years including water heaters, electrical panels, windows, and interior finishes.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,113
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,260
$462.3K
Cap Rate 7%
$330,186
$330.2K
Cap Rate 9%
$256,811
$256.8K
Market Conditions
NOI Build-Up for 2,268 SF
Gross rent
$43.0K $18.96/SF
− Vacancy
−$6.0K −$2.65/SF
EGI
$37.0K $16.31/SF
− OpEx
−$13.9K −$6.11/SF
NOI
$23.1K $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%
$462,260
Cap Rate 7%
$330,186
Cap Rate 9%
$256,811
Alternative Uses
Best Use
Mixed Use
$330.2K
$288.9K – $385.2K
NOI $23,113 @ 7.0% cap · market cap 6.16%
Second Best
Retail
$313.7K
$274.5K – $366.0K
NOI $21,957 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$542.5K
$474.7K – $632.9K
NOI $37,974 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,356
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 34%
Electronics 4%
McDonald's
Dining
16,382 visits/mo
0.1 miles
BP
Shops & Services
6,940 visits/mo
0.3 miles
American Automobile Association (AAA)
Shops & Services
1,864 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
1,071 visits/mo
0.0 miles
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
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Profitable mixed-use property with strong rental history in Wilmington.
Where is this mixed-use property located?
The property is located at 837 W 4TH ST Wilmington, DE.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Strong income potential with approximately $4,000 total monthly rent.; Profitable mixed‑use property featuring a first‑floor commercial space (hair salon) and two 2‑bedroom apartments.; Many major systems replaced in recent years including water heaters, electrical panels, windows, and interior finishes.
