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    1601 Jessup St Wilmington, DE 19802

    Sponsored
    For Sale
    $2,200,000

    Versatile 20,500 SF building, ideal for multiple uses.

    Property size:
    20,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 20,500 square foot commercial property, located at 1601 N Jessup St in Wilmington, Delaware, presents a unique investment opportunity. Situated on a 0.79-acre waterfront lot, this two-story building boasts attractive architecture and masonry construction. Built in 1943 and renovated in 2005, the property is currently fully leased and offers a diverse range of potential uses, including restaurant, creative office, and manufacturing, as permitted by the W6W4 zoning. Features include 43 parking spaces, one loading dock with one dock-high door, and a 14-foot ceiling height. The building benefits from 24-hour access, a security system, and a fenced lot. Additional amenities include beautiful waterfront views, convenient bus line access, and robust power (600a 3p). The original wood floors are in excellent condition. The property is classified as Class C with a Net Net Net (NNN) lease type. The asking price is $2,200,000, with an occupancy date of June 30, 2024. The property's APN is 26-029.30-259, 26-029.30-263. This versatile property offers a compelling blend of historical charm and modern functionality, making it an attractive investment for a variety of commercial ventures.

    Property Features for 1601 Jessup St

    General Information

    Property type
    Restaurants
    Square Feet
    20,500 SF
    Class
    C
    Lot Size
    34,412 SF

    Building Details

    Year Built/Renovated
    1943/2005
    Buildings
    1
    Stories
    2

    HighLights

    • 24/7 Access Control
    • On‑site Security System
    • Fully Fenced Yard
    • 43 Parking Spaces
    • Dedicated Loading Dock
    • Passenger Elevators
    Property Profile Location Intelligence

    Current Use by Public Records

    Rarehouse Studios & Creative ... Art Studio The Dahlia Event Venue Masley Gloves Outdoor Sports Store Ark Technology Consultants Computer Service

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Law Firm Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.53921791263
    Latitude
    39.748515511468

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    FAQs

    What type of property is this?
    Restaurant - Versatile 20,500 SF building, ideal for multiple uses.
    Where is this restaurant located?
    The property is located at 1601 Jessup St Wilmington, DE.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: 24/7 Access Control; On-site Security System; Fully Fenced Yard
    Request Owner's contact information
    1601 Jessup St Wilmington, DE 19802
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    Wilmington, DE 19802
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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
    1601 Jessup St Wilmington, DE 19802
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