Mixed-Use Property With Three
New
For Sale
$560,000
9 E 44TH STREET, Wilmington, DE 19802
Mixed-use configuration combines separately accessed residential areas with substantial street-level commercial space and outdoor lot area.
Property Size5,259 SF
Price / SF$106.48
Days on Market6
Property Features for 9 E 44TH STREET
General Information
Standard status
Active
Size
5,259 SF
Property subtype
Duplex
Building Details
Year Built
1930
Listing Agency:
Crown Homes Real Estate
(302) 609-9888
Listed By:
Michael Mulski · License #RS0040131
(302) 609-9888
Source:
Cummingsrealtors
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 5:31AM
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 Crown Homes Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property contains 5,259 square feet and was built in 1930. The building combines residential areas with a street-level commercial component arranged into three large bays. Separate access points provide functional separation between the residential portions and commercial space, supporting distinct occupancy arrangements within the same building.
The property is located at 9 E 44th Street in Wilmington, Delaware. A generously sized lot adds outdoor area associated with the building, while the commercial bays provide a substantial footprint for business operations or storage-related functions. Buyers should independently confirm zoning, permitted uses, legal dwelling-unit count, rental licensing, parking requirements, and potential lot uses with the appropriate authorities.
The property is located at 9 E 44th Street in Wilmington, Delaware. A generously sized lot adds outdoor area associated with the building, while the commercial bays provide a substantial footprint for business operations or storage-related functions. Buyers should independently confirm zoning, permitted uses, legal dwelling-unit count, rental licensing, parking requirements, and potential lot uses with the appropriate authorities.
Key Highlights
- 5,259‑square‑foot mixed‑use property at 9 E 44th Street, Wilmington, DE 19802
- Three large street‑level commercial bays
- Residential areas have separate access points
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
$49,920
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
8.91%
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%
$998,400
$998.4K
Cap Rate 7%
$713,143
$713.1K
Cap Rate 9%
$554,667
$554.7K
Market Conditions
NOI Build-Up for 5,259 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
$83.9K $15.96/SF
− Vacancy
−$7.1K −$1.36/SF
EGI
$76.8K $14.60/SF
− OpEx
−$26.9K −$5.11/SF
NOI
$49.9K $9.49/SF
Area
New Castle County, DE
Vacancy
8.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
35.00%
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%
$998,400
Cap Rate 7%
$713,143
Cap Rate 9%
$554,667
Alternative Uses
Best Use
Multifamily LT 5
$796.6K
$697.0K – $929.4K
NOI $55,761 @ 7.0% cap · market cap 9.96%
Second Best
Mixed Use
$765.6K
$669.9K – $893.2K
NOI $53,594 @ 7.0% cap · market cap 9.57%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,053 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,631
Businesses Nearby
Explore this area
Business Placement
Demographics for 19802, DE
26,189
Population
11,596
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
89%
High-School Grad
3.5 sq mi
ZIP Area
7,483
Density / Sq Mi
$54,370
Median Household Income
$39,579
Median Earnings
$1,236
Median Rent
$188,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use configuration combines separately accessed residential areas with substantial street-level commercial space and outdoor lot area.
Where is this mixed-use property located?
The property is located at 9 E 44TH STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: 5,259‑square‑foot mixed‑use property at 9 E 44th Street, Wilmington, DE 19802; Three large street‑level commercial bays; Residential areas have separate access points
