Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1216 N King St Wilmington, DE 19801

    Property Lookup

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

    1216 N King St Wilmington, DE 19801

    View on Map
    • Commercial real estate
    • 0.03 lot acres
    For Sale
    $249,900
    View Listing →
    Three-Story Office Building Near Downtown For Sale
    $249,900
    0.03 Acres

    Three-Story Office Building Near Downtown

    Three-story office building in a convenient downtown-adjacent location.

    1216 N KING STREET, Wilmington, DE 19801
    View Listing
    Property ID
    US17-0137448
    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

    • Commercial real estate

    Property Details for 1216 N King St

    Lot size
    0.03 lot acres
    Zone code
    26C-4
    Property type
    Commercial real estate
    APN
    26-028.40-222
    APU
    2602840222

    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
    -75.5452
    Latitude
    39.7473
    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
    $3,409
    $26,100
    $68,400
    $94,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      22,396 SF

      1000 West St

      Office Units • 22,396 SF
      1000 West St, Wilmington, DE 19801
      View Details
    • Value Estimation by Request
      0.04 Acres

      202 Martin Luther King Blvd

      COMMERCIAL (GENERAL) • 0.04 Acres
      202 Martin Luther King Blvd, Wilmington, DE 19801-2406
      View Details
    • Value Estimation by Request
      0.30 Acres

      122 Martin Luther King Blvd, Unit 1

      COMMERCIAL (GENERAL) • 0.30 Acres
      122 Martin Luther King Blvd, Wilmington, DE 19801
      View Details
    • Value Estimation by Request
      0.05 Acres

      719 Monroe St

      COMMERCIAL (GENERAL) • 0.05 Acres
      719 Monroe St, Wilmington, DE 19801-1358
      View Details
    • Value Estimation by Request
      0.19 Acres

      801 New Castle Ave

      COMMERCIAL (GENERAL) • 0.19 Acres
      801 New Castle Ave, Wilmington, DE 19801-5750
      View Details
    • Value Estimation by Request
      0.10 Acres

      501 New Castle Ave

      COMMERCIAL (GENERAL) • 0.10 Acres
      501 New Castle Ave, Wilmington, DE 19801-5819
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,080 SF

      Retail Building in Wilmington CBD

      1,080 SF retail building for sale in Wilmington, DE.
      107 W 9Th St, Wilmington, DE 19801
      View Details
    • Contact for pricing

      Warehouse Space Near Port Wilmington

      133,620 SF warehouse with immediate highway access.
      1101 S Heald St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      7,500 SF

      Industrial Land Near Port Wilmington

      3.96 acres of industrial land with 7,500 SF building.
      801 Garasches Ln, Wilmington, DE 19801
      View Details
    • Contact for pricing

      Retail Space in Downtown Wilmington

      Retail property for lease along I-95 in downtown Wilmington.
      Adams 4 Shopping Ctr, Wilmington, DE 19801
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Wilmington, Delaware.
      501 S Walnut St, Wilmington, DE 19801
      View Details
    • Contact for pricing

      Industrial Yard for Rent

      2-acre industrial yard, convenient access to major transportation routes.
      1000 S Heald St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      31,633 SF

      Tech Office Space For Rent

      Tech office space with jaw-dropping interiors and waterfront views.
      100 S West St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      18,000 SF

      Light Industrial/Flex/Warehouse Space Available

      Centrally located light industrial/flex/warehouse property with various sized suites.
      401 Cornell Dr, Wilmington, DE 19801
      View Details
    • Contact for pricing
      2,000 SF

      Second Floor Office Space Available

      Centrally located office space with easy highway access.
      300-320 Cornell Dr, Wilmington, DE 19801
      View Details
    • Contact for pricing
      2,172 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
    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.
    1216 N King 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!