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    705-707 West St Wilmington, DE 19801

    Sponsored
    For Sale
    $1,250,000

    Prime .98-acre commercial land, $1,250,000

    Property size:
    1,682 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.98-acre property, located at 705-707 West Street in Wilmington, Delaware (zip code 19801), presents a unique redevelopment opportunity. Currently operating as an income-producing auto repair facility and commercial parking lot, the site offers significant potential. The property includes a fully-leased 1,682 square foot building to a single tenant, generating a six-figure annual net income. The expansive lot provides 100 parking spaces and boasts convenient access to Seventh Street, situated at the intersection of Eighth & West and Eighth & Washington Streets. The property is zoned C4 and R-3, and is eligible for up to $1,500,000 in rebate funding through the Downtown Development District Grant Program. This prime location offers proximity to major office buildings, restaurants, theaters, and other downtown Wilmington attractions. The APN numbers are 2603510384 and 2603510369. An additional approximately 0.13 acres may also be available. The asking price is $1,250,000.

    Property Features for 705-707 West St

    General Information

    Property type
    Retail properties
    Square Feet
    1,682 SF
    Lot Size
    42,689 SF

    HighLights

    • 0.98‑acre lot (plus potential 0.13‑acre adjacent parcel) totaling approximately 37,103 square feet.
    • Prime downtown Wilmington location at the intersection of Eighth & West and Eighth & Washington Streets, with access to Seventh Street.
    • Eligible for up to $1,500,000 in rebate funding through the Downtown Development District Grant Program.
    • C4 zoning.
    • Income‑producing property: Fully‑leased 1,682 square foot building generating six‑figure annual net income; also operates as a commercial parking lot with 100 spaces.
    • Excellent proximity to major office buildings, restaurants, and other downtown amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Law Firm Dental Office Hair Salon Nail Salon Clothing Store Food Market 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
    -75.55263727549
    Latitude
    39.744798902747

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    FAQs

    What type of property is this?
    Retail property - Prime .98-acre commercial land, $1,250,000
    Where is this retail property located?
    The property is located at 705-707 West St Wilmington, DE.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: 0.98-acre lot (plus potential 0.13-acre adjacent parcel) totaling approximately 37,103 square feet.; Prime downtown Wilmington location at the intersection of Eighth & West and Eighth & Washington Streets, with access to Seventh Street.; Eligible for up to $1,500,000 in rebate funding through the Downtown Development District Grant Program.
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    705-707 West St Wilmington, DE 19801
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    Wilmington, DE 19801
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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
    705-707 West St Wilmington, DE 19801
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