Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1117 N Franklin St Wilmington, DE 19806

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1117 N Franklin St Wilmington, DE 19806

    View on Map
    • Commercial real estate
    For Lease
    $18 SF/Yr
    View Listing →
    Medical Office Space Available For Lease
    $18 SF/Yr
    1,650 SF

    Medical Office Space Available

    Medical office space for lease featuring multiple exam rooms.

    1117 N Franklin St, Wilmington, DE
    View Listing
    Property ID
    US17-0262530
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Delaware Spine Chiropractic / Alternative Medicine Practice
    • Kevin J Cattie / Alternative Medicine Practice
    • HALO Massage & Wellness / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 1117 N Franklin St

    Property type
    Commercial real estate

    Description

    This exceptional 1,650 square foot medical office suite is available for lease at 1117 N Franklin St, Wilmington, Delaware, 19806. Located in New Castle County, this single-tenant space is perfectly suited for a variety of medical practices. The property features four examination or treatment rooms, each equipped with sinks, ensuring optimal functionality. A spacious reception area comfortably accommodates 10-12 patients, complete with a check-in desk for efficient patient flow. An additional room can serve as a conference room or additional treatment area, offering flexibility to meet the needs of your practice. A full kitchen adds convenience and functionality. The suite boasts luxury vinyl flooring throughout the kitchen area, while the remaining space features updated commercial carpeting. This meticulously maintained space offers a blend of modern amenities and a professional atmosphere, making it an ideal location for your medical practice. The property is situated in a prime Wilmington location, offering easy access to major transportation routes and a thriving community. This is a rare opportunity to secure a well-appointed medical office suite in a highly desirable area. Inquire today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5595338
    Latitude
    39.7528629

    Comparable in this City

    • Contact for pricing
      3,000 SF

      Office Space Near Brandywine River

      Office space in park-like setting near Brandywine River.
      2 Mill Rd, Wilmington, DE 19806
      View Details
    • $18 SF/Yr
      1,650 SF

      Medical Office Space Available

      Medical office space for lease featuring multiple exam rooms.
      1117 N Franklin St, Wilmington, DE 19806
      View Details
    • Contact for pricing

      Office Units For Rent

      Office units with utilities included, close to amenities.
      1500 Shallcross Ave, Wilmington, DE 19806
      View Details
    • Contact for pricing
      2,000 SF

      Trolley Square Office Space Available

      Office space with excellent visibility and abundant parking.
      19-40 Trolley Sq, Wilmington, DE 19806
      View Details
    • Contact for pricing
      2,384 SF

      Wilmington Office Space For Rent

      Office space available near Wilmington CBD and Greenville.
      1300 N Grant Ave, Wilmington, DE 19806
      View Details
    • Contact for pricing
      1,000 SF

      Prime Corner Office Space

      Corner office space with high traffic and strong community presence.
      13 Trolley Sq, Wilmington, DE 19806
      View Details

    Similar Nearby for Sale

    • $125,000

      Commercial Unit in Desirable Condominium

      Private first-floor commercial unit suitable for various business needs.
      1401 Pennsylvania Ave, Wilmington, DE 19806
      View Details
    • $229,900

      Renovated Trolley Square Office Condo

      Unique loft-style office space in Wilmington's Trolley Square.
      1815 W 13Th St, Wilmington, DE 19806
      View Details
    • $125,000

      First-Floor Commercial Unit Opportunity

      Versatile commercial unit in a desirable Wilmington condominium.
      1401 Pennsylvania Ave, Wilmington, DE 19806
      View Details
    • $189,900
      1,100 SF

      Wilmington Office Unit For Sale

      Office unit available in Wilmington, Delaware.
      1401-Unit Pennsylvania Ave, Wilmington, DE 19806
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Office Space Near Brandywine River

      Office space in park-like setting near Brandywine River.
      2 Mill Rd, Wilmington, DE 19806
      View Details
    • Contact for pricing

      Office Units For Rent

      Office units with utilities included, close to amenities.
      1500 Shallcross Ave, Wilmington, DE 19806
      View Details
    • Contact for pricing
      1,000 SF

      Prime Corner Office Space

      Corner office space with high traffic and strong community presence.
      13 Trolley Sq, Wilmington, DE 19806
      View Details
    • Contact for pricing
      6,517 SF

      Class A Office Space Available

      Prestigious Wilmington estate offering renovated and new office spaces.
      2505 Pennsylvania Ave, Wilmington, DE 19806
      View Details
    • Contact for pricing

      Office Building Near I-95

      Office building with convenient I-95 access available for lease.
      910 Gilpin Ave, Wilmington, DE 19806
      View Details
    • $18 SF/Yr
      1,650 SF

      Medical Office Space Available

      Medical office space for lease featuring multiple exam rooms.
      1117 N Franklin St, Wilmington, DE 19806
      View Details
    View Listing
    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.
    1117 N Franklin St
    Wilmington, DE 19806
    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

    Thank You for Inquiry

    1117 N Franklin St, Wilmington, DE, 19806

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!