Corner Mixed-Use
For Sale
$375,000
837 W 4TH Street, Wilmington, DE 19801
Multi-Family, WILMINGTON, DE
Property Size2,268 SF
Lot Size0.02 Acres
Price / SF$165.34
Days on Market173
Property Features for 837 W 4TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room, Basement
Parking features
On Street
Interior features
Bathroom - Tub Shower, Built-Ins, Ceiling Fan(s), Dining Area
Appliances
Cooktop, Microwave, Refrigerator
Subdivision
WILM #21
Elementary school
PULASKI
Middle school
BAYARD
High school
NEWARK
Elementary school district
CHRISTINA
Middle school district
CHRISTINA
High school district
CHRISTINA
Standard status
Active
Size
2,268 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
5980
Utilities
Heating system
Forced Air
Building Details
Year built
1983
Number of units
3
Building materials
Brick, Masonry
Architectural style
Colonial
Listing Agency:
Keller Williams Realty Wilmington
(302) 299-1100
Listed By:
Kenneth Van Every · License #RS0022242
(302) 529-1857
Added: Mar 5
Changed: Aug 19
Last Checked: Aug 25 at 2:06AM
MLS# DENC2097812
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,268-square-foot brick and masonry mixed-use building places a salon on the first floor and two two-bedroom apartments above. The commercial level includes a client waiting area, multiple styling stations, two wash stations, a private studio, storage, and a half bathroom. Each apartment has two bedrooms, a bathroom with a tub-shower, a kitchen with cabinetry and counter space, a dining area, and a living room with natural light from the corner configuration. One apartment has been refreshed with new paint and flooring.
The property occupies a 0.02-acre corner lot at W 4TH Street and Adams Street in Wilmington. The salon entrance and signage face the street, while the apartments have a separate Adams Street entry. The building is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, and bus routes. The basement provides storage and houses separate utilities, including four electrical panels, three hot water heaters, and three gas furnaces. On-street parking is available.
The property occupies a 0.02-acre corner lot at W 4TH Street and Adams Street in Wilmington. The salon entrance and signage face the street, while the apartments have a separate Adams Street entry. The building is walkable to the central business district, shopping, dining, convenience stores, transportation, the train station, and bus routes. The basement provides storage and houses separate utilities, including four electrical panels, three hot water heaters, and three gas furnaces. On-street parking is available.
Key Highlights
- 2,268‑square‑foot mixed‑use building with a street‑level salon and two 2‑bedroom apartments
- 0.02‑acre corner property at W 4TH Street and Adams Street in Wilmington
- Commercial floor includes waiting area, styling stations, two wash stations, private studio, and half bathroom
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
$23,113
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
6.16%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,356
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick building combines a street-level salon with two tenant-occupied apartments and separate residential access.
Where is this mixed-use property located?
The property is located at 837 W 4TH Street 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: 2,268‑square‑foot mixed‑use building with a street‑level salon and two 2‑bedroom apartments; 0.02‑acre corner property at W 4TH Street and Adams Street in Wilmington; Commercial floor includes waiting area, styling stations, two wash stations, private studio, and half bathroom
