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    Property profile & analytics

    1709 Delaware Ave Wilmington, DE 19806

    • Turn key restaurants
    • 1,480 SF
    • 0.07 lot acres
    For Lease
    View listing
    $213 SF/Yr
    Value Estimations
    $270,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0240802
    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

    • Valoso / Video Production Service
    • Grain Craft Bar + Kitchen / Restaurant

    Property Details for 1709 Delaware Ave

    Year built
    1930
    Construction
    CONCRETE
    Lot size
    0.07 lot acres
    Property size
    1,480 SF
    Zone code
    26C-1
    Property type
    Turn key restaurants
    APN
    26-013.40-045
    APU
    2601340045

    Description

    This exceptional restaurant opportunity is located at 1709 Delaware Avenue in Wilmington, Delaware, within the desirable Trolley Square neighborhood. The property boasts a prime location in the heart of the Forty Acres dining scene, known for its diverse culinary offerings and strong community of food enthusiasts. This single-tenant space offers 3,936 square feet on a 0.08-acre lot in New Castle County, zip code 19806. The current lease commenced in 2022 and extends until 2027, presenting a strong investment opportunity for a prospective tenant. Trolley Square's charming atmosphere and high foot traffic create an ideal environment for a successful restaurant operation. The property's strategic location within this vibrant and popular dining destination ensures significant visibility and accessibility to a large customer base. This is a rare chance to secure a well-established restaurant space in a thriving Wilmington community. The asking lease price is not included in this listing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $225,000
      Market price range: $138k - $355k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $255,000
      Current use
      COMMERCIAL (GENERAL)
      $350,000
      Change: +37% Conversion: Easy
      RETAIL STORES
      $320,000
      Change: +27% Conversion: Easy
      MEDICAL BUILDING
      $250,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5626
    Latitude
    39.7586
    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
    $2,828
    $15,200
    $88,600
    $103,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $290,000
      2,015 SF

      1900 Scott St

      RESTAURANT • 2,015 SF
      1900 Scott St, Wilmington, DE 19806-2320
      View Details
    • Value Estimation
      $325,000
      1,402 SF

      1307 Scott St

      RESTAURANT • 1,402 SF
      1307 Scott St, Wilmington, DE 19806-4023
      View Details
    • Value Estimation
      $305,000
      1,568 SF

      1707 Delaware Ave

      RESTAURANT • 1,568 SF
      1707 Delaware Ave, Wilmington, DE 19806-2329
      View Details
    • Value Estimation
      $380,000
      6,221 SF

      2216 Pennsylvania Ave

      RESTAURANT • 6,221 SF
      2216 Pennsylvania Ave, Wilmington, DE 19806-2444
      View Details
    • Value Estimation
      $545,000
      7,240 SF

      1819 Pennsylvania Ave

      RESTAURANT • 7,240 SF
      1819 Pennsylvania Ave, Wilmington, DE 19806-4037
      View Details
    • Value Estimation
      $310,000
      2,648 SF

      1701 Delaware Ave

      RESTAURANT • 2,648 SF
      1701 Delaware Ave, Wilmington, DE 19806-2329
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $213 SF/Yr
      3,936 SF

      Delaware Ave Restaurant - For Lease

      Thriving Wilmington restaurant, lease available.
      1709 Delaware Ave, Wilmington, DE 19806
      View Details
    • $40 SF/Yr
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      Retail Space in Wilmington

      Retail space available for lease in Wilmington, Delaware.
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      View Details
    • $15 SF/Yr
      10,560 SF

      Office Space Near Trolley Square

      Office space for lease near shopping, restaurants, and I-95.
      1200 Pennsylvania Ave, Wilmington, DE 19806
      View Details
    • 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
    • $22 SF/Yr
      5,311 SF

      Trolley Square Office Space Available

      Wilmington, DE Office: Prime Location, Flexible Space
      1700 14Th St, Wilmington, DE 19806
      View Details
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    Wilmington, DE 19806
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    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
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