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    508 Main St Wilmington, DE 19804

    Sponsored
    For Sale
    $1,900,000

    Wilmington, DE retail & office complex. High traffic location.

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 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

    HighLights

    • 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.
    Property Profile 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.
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    Wilmington, DE 19804
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    508 Main St Wilmington, DE 19804
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