Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1007 Washington St Wilmington, DE 19801

    • Parking lots & garages
    • 22,000 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimations
    $1,810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0165345
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 1007 Washington St

    Year built
    2006
    Construction
    ADOBE
    Lot size
    0.86 lot acres
    Property size
    22,000 SF
    Zone code
    26C-4
    Property type
    Parking lots & garages
    APN
    26-028.30-335
    APU
    2602830335

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $1,215,000
      Current use
      AUTO REPAIR, GARAGE
      $1,895,000
      Change: +56% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,595,000
      Change: +31% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,125,000
      Change: -8% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5522
    Latitude
    39.7476
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $2,622,300
    $1,500,000
    $4,122,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      871 SF

      105 12th St

      PARKING LOT • 871 SF
      105 12th St, Wilmington, DE 19801
      View Details
    • Value Estimation by Request
      2,000 SF

      218 7th St

      PARKING LOT • 2,000 SF
      218 7th St, Wilmington, DE 19801
      View Details
    • Value Estimation
      $1,385,000
      73,950 SF

      105 Adams St

      PARKING LOT • 73,950 SF
      105 Adams St, Wilmington, DE 19801
      View Details
    • Value Estimation
      $1,990,000
      25,151 SF

      700 Delaware Ave

      PARKING GARAGE, PARKING STRUCTURE • 25,151 SF
      700 Delaware Ave, Wilmington, DE 19801
      View Details
    • Value Estimation
      $3,330,000
      44,710 SF

      1200 French St

      PARKING GARAGE, PARKING STRUCTURE • 44,710 SF
      1200 French St, Wilmington, DE 19801-3239
      View Details
    • Value Estimation
      $1,970,000
      24,016 SF

      913 Shipley St

      PARKING GARAGE, PARKING STRUCTURE • 24,016 SF
      913 Shipley St, Wilmington, DE 19801
      View Details

    Similar Nearby for Sale

    • $70,000
      0.03 Acres

      Gated Wilmington Property with Garage

      75x19 gated property with massive block-built garage and driveway.
      701 E 6Th St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      34,000 SF

      Multi-Level Building with Parking Lot

      Multi-level building with daycare, gym, classrooms, and parking.
      2201 W 2Nd St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      1,682 SF

      Downtown Wilmington Garage with Parking

      Three-bay garage with parking for 100 cars in Downtown Wilmington.
      707 N West St, Wilmington, DE 19801
      View Details
    • $750,000

      Auto Shop Redevelopment Opportunity

      Auto shop with redevelopment potential in a high-demand parking area.
      412 W 8Th St, Wilmington, DE 19801
      View Details
    • Contact for pricing

      Prime Corner Retail Space Available

      Retail space with mezzanine in high-traffic Wilmington location.
      200 North Market St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      1,476 SF

      Downtown Wilmington Restaurant Opportunity

      Established cafe with expansion potential in Wilmington's downtown area.
      721 N King St, Wilmington, DE 19801
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,934 SF

      Versatile Office/Retail Space Available

      Multi-floor office/retail space in Wilmington, DE for lease.
      117 N Market St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      4,797 SF

      Retail Space with High Ceilings

      Retail space featuring 16-foot ceilings in Wilmington, Delaware.
      331 S Justison St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      7,275 SF

      Downtown Retail Space Available

      Retail spaces in downtown Wilmington, near Market Street and business district.
      116 W 9Th St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      119,446 SF

      Wilmington Retail Center - Prime Location

      High-traffic retail space, multiple units available.
      501 Walnut St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      13,610 SF

      Downtown Wilmington Office Space Available

      Premier office building in Wilmington's Central Business District for rent.
      222 Delaware Ave, Wilmington, DE 19801
      View Details
    • Contact for pricing
      249,799 SF

      PNC Bank Center: Premier Wilmington Office

      Class A Office Space, Downtown Wilmington
      222 Delaware Ave, Wilmington, DE 19801
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1007 Washington St
    Wilmington, DE 19801
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!