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    901 Market St Wilmington, DE 19801

    Sponsored
    For Lease
    $8 SF/Yr

    Flexible workspace solutions in Delaware.

    Lot size:
    5,393 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional office space in Wilmington, Delaware, offers a diverse range of options to suit various business needs. Located at 901 N Market St, 1st Floor, in New Castle County, this property provides flexible solutions for businesses of all sizes. The space caters to a multitude of work styles, including traditional office setups, executive suites, coworking environments, medical offices, and creative office spaces. Tenancy is multiple, allowing for a variety of configurations. Businesses can choose from fully furnished and equipped private offices, scalable from single-person setups to large corporate spaces, tailored to specific requirements. These options include serviced offices, custom designs, disaster recovery spaces, and day offices, offering access flexibility. Additionally, coworking spaces provide a collaborative atmosphere with both dedicated desks and hot-desking options. A comprehensive suite of meeting rooms is available, ranging from informal chat spaces to facilities suitable for presentations, training sessions, interviews, board meetings, and conferences, bookable by the hour or for extended periods. Virtual office solutions are also offered, providing prestigious business addresses, mail handling services, and professional virtual assistant support, including lounge access and occasional office use. Flexible working plans provide access to a global network of workspaces, offering various levels of access to private offices and coworking spaces. The property's location in Wilmington, Delaware, offers convenient access to local amenities and transportation. While the total building square footage is not specified, the available office space is adaptable to a wide range of business needs and scales.

    Property Features for 901 Market St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,393 SF

    Unit(s) available at that property

    Space
    Virtual Office
    Size
    54 SF
    Rate per SF
    $57
    Space
    Flexible coworking membership
    Size
    108 SF
    Rate per SF
    $13
    Space
    Flexible office membership
    Size
    108 SF
    Rate per SF
    $24
    Space
    Coworking space
    Size
    328 SF
    Rate per SF
    $8
    Space
    Private office for 1 person
    Size
    538 SF
    Rate per SF
    $8
    Space
    Private office for 2 people
    Size
    328 SF
    Rate per SF
    $12
    Space
    Private office for 3 people
    Size
    646 SF
    Rate per SF
    $13
    Space
    Private office for 5 people
    Size
    807 SF
    Rate per SF
    $19
    Space
    Open plan office space for + 10 people
    Size
    1,184 SF
    Rate per SF
    $23
    Space
    Open plan office space for + 15 people
    Size
    1,292 SF
    Rate per SF
    $26

    HighLights

    • Flexible office space options to suit various business needs, including private offices, coworking spaces, and virtual offices.
    • Fully furnished and equipped private offices scalable from single‑person to large corporate spaces, with options including serviced, custom, disaster recovery, and day offices.
    • Coworking spaces offer dedicated desks and hot‑desking, fostering collaboration.
    • Meeting rooms of various sizes are available for booking by the hour or longer, suitable for various events.
    • Virtual office solutions include prestigious business addresses, mail handling, and virtual assistant support.
    • Flexible membership options provide access to a global network of workspaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5471223
    Latitude
    39.7459326

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    FAQs

    What type of property is this?
    Office space - Flexible workspace solutions in Delaware.
    Where is this office space located?
    The property is located at 901 Market St Wilmington, DE.
    What is the lease rate?
    The lease rate is $8-$57 SF/Yr.
    What are key features of this property?
    This property features: Flexible office space options to suit various business needs, including private offices, coworking spaces, and virtual offices.; Fully furnished and equipped private offices scalable from single-person to large corporate spaces, with options including serviced, custom, disaster recovery, and day offices.; Coworking spaces offer dedicated desks and hot-desking, fostering collaboration.
    Request Owner's contact information
    901 Market St Wilmington, DE 19801
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    Wilmington, DE 19801
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    901 Market St Wilmington, DE 19801
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