Back to Search
Property profile & analytics
FOR SALE
Medical Office Space
1806 North Van Buren St Wilmington, DE 19802
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US17-0016735
For Sale
$1,100,000
1806 North Van Buren St, Wilmington, DE 19802
View Listing →
Property summary
AI-generated overview
This exceptional 7,010+/- square foot medical office building presents a lucrative investment opportunity in Wilmington, Delaware. Priced at $1,450,000, this two-story structure boasts 6,005+/- square feet of rentable office space, ideal for a variety of medical practices. Constructed of durable brick and block, the building is situated on two parcels, #26-014.40-010 and 26-014.30-009, and benefits from an R-3 zoning designation. Its strategic location near major transportation arteries, including I-95 and Routes 202, 52, and 13, ensures excellent accessibility for patients and staff. The property's size and location make it an attractive option for established medical practices seeking expansion or new ventures looking for a well-positioned facility. This turnkey opportunity offers a chance to acquire a high-quality medical office building in a thriving Delaware market. Detailed property records and further information are available upon request. Serious inquiries only.
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1964
Construction
CONCRETE
Total area
3,528 SF
Lot
0.28 ac (12,197 SF)
Zoning code
26R-3
APN
26-014.40-010
UPID
US17-0016735
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$785k
Comparable Approach
Comparable
$733k
Blend (final)
Blend
$760k
Owner & transaction history
Vb Properties LLC · 21 yrs held
Vb Properties LLC
since 2004
5 recorded transactions
Zoning & alternative use
26R-3 · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$725,000
+22.6%
Retail stores
$690,000
+16.4%
Auto repair, garage
$605,000
+2.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wilmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wilmington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$850,000
6.5%
$785,000
7%
$725,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$590,000
Current use
COMMERCIAL (GENERAL)
$725,000
Change: +23% · Conversion: Easy
RETAIL STORES
$690,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$605,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$760k
Range $684k – $836k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$215 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$11,804
Tax year 2023
Assessed value
$433,300
Assessed 2023
Previous assessed
$433,300
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$30,500
Assessed improvement
$402,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
DENTAL BUILDING
Status
For Sale
Year built
1964
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
2
Total area
3,528 SF
Lot
0.28 ac (12,197 SF)
Zoning code
26R-3
APN
26-014.40-010
UPID
US17-0016735
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
26R-3 · Wilmington, DE
Zoning 26R-3 · permitted uses
26R-3 · Wilmington, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wilmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$590,000
COMMERCIAL (GENERAL)
Est. value
$725,000
RETAIL STORES
Est. value
$690,000
AUTO REPAIR, GARAGE
Est. value
$605,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Vb Properties LLC
Entity
Mailing address
2304 SAYMOURE RD #310, WILMINGTON, DE 19805-2813
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2004
$655,000
Vb Properties LLC
Network Administrators LLC
Grant Deed
$572,000 · Artisans Bank
—
—
Vp Properties LLC
—
Deed Of Trust
related
$30,000 · Artisans Bank
—
—
Vb Properties LLC
—
Deed Of Trust
related
$115,000 · Artisans Bank
—
—
Robert D Simpson
—
Deed Of Trust
related
$50,000 · Dexsta FCU
—
—
Vb Properties LLC
—
Deed Of Trust
related
$70,000 · Artisans Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
