508 Main St Wilmington, DE 19804
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Wilmington, DE retail & office complex. High traffic location.
Property size:
8,000 SFProperty Features for 508 Main St
General Information
- Property type
- Individual retail properties
- Square Feet
- 8,000 SF
- Class
- C
Building Details
- Year Built
- 1986
- Buildings
- 2
- Stories
- 3
- Units
- 4
Listing Agency: LMT Commercial Realty / CORFAC International Listing Agent: Tyler Foresta
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a multi-unit commercial property located at 508-512 Main Street in Wilmington, Delaware, 19804. The property comprises two buildings, totaling 8,000 square feet across three stories, situated on three combined parcels encompassing 0.66 acres. Built in 1986, this Class C property features a mix of retail and office space, currently operating at 100% occupancy with four units. The property is zoned CR and offers a compelling combination of QSR/Fast Food and storefront options, including co-working space. Currently, an accounting firm occupies 3,840 square feet of the space, while a liquor store/food mart and an apartment occupy the remaining 4,160 square feet. The asking price is $1,900,000, representing a price per square foot of $237.50 and a 4.00% cap rate. The property benefits from a gross lease type and boasts outstanding visibility at the intersection of Route 7 (Limestone Road) and Route 4, experiencing high traffic counts exceeding 56,000 vehicles daily. Full movement access is available from both eastbound and westbound Route 7. Delaware Department of Transportation (DelDOT) right-of-ways are present at each end of the 508 and 512 properties. This income-producing property offers a strong return on investment in a prime Wilmington location.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Coworking space
Map
- City
- Wilmington
- County
- New Castle
- State
- Delaware
- Longitude
- -75.6488059
- Latitude
- 39.7122374
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FAQs
What type of property is this?
Individual retail property - Wilmington, DE retail & office complex. High traffic location.
Where is this individual retail property located?
The property is located at 508 Main St Wilmington, DE.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: High-traffic location at Route 7 & Route 4 intersection, exceeding 56,000 vehicles daily.; Full access from both eastbound and westbound Route 7.; Income-generating property with a 3,840 SF accounting firm and a 4,160 SF liquor store/food mart plus apartment.
