204 Maryland Ave Wilmington, DE 19804

Property Details for 204 Maryland Ave

Lot size

0.19 lot acres

Property size

5,237 SF

Property type

1031 exchange properties

Property subtype

Residential income homes

Description

This exceptional mixed-use investment property, located at 204 N Maryland Avenue in Wilmington, Delaware, presents a compelling opportunity for owner-users or investors seeking a stable, high-yield asset. The property consists of two buildings, each two stories, encompassing a total of 5,237 square feet on a 0.19-acre lot. The property is zoned CN (Commercial Neighborhood) and features a blend of commercial and residential income streams. Four ground-floor retail units and three residential apartments generate a substantial net operating income (NOI) of $76,800. Currently fully leased, this property benefits from its location on North Maryland Avenue, a busy thoroughfare with a high average annual daily traffic count of 17,909 vehicles. The property's strong cash flow, diverse tenant base, and prime location make it an attractive investment prospect in the thriving Wilmington market. This Class C property offers a rare opportunity to acquire a well-established, income-producing asset with significant upside potential. The property's two buildings provide flexibility for future development or expansion. This is an ideal opportunity for investors seeking a stable, high-return investment in a desirable location.