616 Union St Wilmington, DE 19805
- Turn key restaurants
- 3,931 SF
- 0.31 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 616 Union St
- Year built
- 1955
- Construction
- CONCRETE
- Lot size
- 0.31 lot acres
- Property size
- 3,931 SF
- Zone code
- 26R-3
- Property type
- Turn key restaurants
- APN
- 26-026.20-061
- APU
- 2602620061
Description
This exceptional mixed-use property, located at 616-618 N Union Street in Wilmington, Delaware, presents a compelling investment opportunity. The 7,862 square foot building, constructed in 1930, is a two-story structure situated on a 0.31-acre lot and boasts a spacious on-site parking area. Currently configured as a blend of office and retail space, the first floor comprises approximately 3,391 square feet, currently generating a scheduled monthly income of $5,813.79 from a restaurant tenant. The second floor offers two separate office/studio suites, each approximately 1,965 square feet, totaling an additional 3,391 square feet. The property is zoned C-2 (City of Wilmington), allowing for flexible usage and future development potential. The building's prime location within a vibrant commercial corridor ensures excellent visibility and accessibility, making it an attractive proposition for both tenants and customers. The asking price is $999,900, with an occupancy date of December 4, 2024. This property offers a strong blend of immediate income generation and long-term growth potential in a desirable Delaware location. The building's size, parking, and flexible zoning make it a versatile asset suitable for a variety of uses and investment strategies.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- New Castle
- State
- Delaware
- Longitude
- -75.5713
- Latitude
- 39.7511
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
