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

    3301 Lancaster Pike Wilmington, DE 19805

    • Community centers
    • 60,540 SF
    • 4.12 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    $1,115,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0306233
    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

    • Omka Grill & Sushi / Delivery Restaurant / Sushi Restaurant
    • Children's Dental Health of Wilmington / Pediatric Dentist
    • Walgreens Photo / Passport Photo Processor / Photo Lab
    • Unity Asset Mgmt., Inc / Property Management Company
    • Muncie Insurance & Financial Services / Life Insurance Agency / Renter'S Insurance Agency

    Property Details for 3301 Lancaster Pike

    Year built
    1981
    Construction
    CONCRETE
    Lot size
    4.12 lot acres
    Property size
    60,540 SF
    Zone code
    CR
    Property type
    Community centers
    APN
    07-033.30-064
    APU
    703330064

    Description

    The Cannery, located at 3301 Lancaster Pike in Wilmington, Delaware, is a multi-tenant retail strip center offering exceptional opportunities for businesses seeking high-traffic locations. This 60,175 square foot property sits on 4.12 acres of land in New Castle County, and boasts excellent visibility and ample parking. Currently, there are three available spaces ranging from 1,200 to 7,426 square feet, providing flexibility for various business needs. The center enjoys a strong tenant mix, including established businesses such as Wagner’s Hardware, Omka Sushi, Doggie Style Hotdogs, Concentra, and a Children’s Dental Health Practice, creating a vibrant and successful retail environment. The property's strategic location in Wilmington, Delaware, 19805, ensures easy access for customers and employees. With a total of 14,966 square feet currently vacant, this presents a unique chance to establish or expand your business within a thriving commercial hub. The minimum divisible space is 1,200 square feet, making it ideal for a variety of retail concepts. This is a rare opportunity to secure a prime retail space in a high-traffic area with strong existing tenants. Contact us today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,115,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5898
    Latitude
    39.7538
    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
    $87,983
    $453,200
    $2,213,100
    $2,666,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,030,000
      20,700 SF

      1920 Maryland Ave

      SHOPPING CENTER, STRIP CENTER • 20,700 SF
      1920 Maryland Ave, Wilmington, DE 19805-4605
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    • Value Estimation
      $360,000
      7,293 SF

      2511 4th St

      SHOPPING CENTER, STRIP CENTER • 7,293 SF
      2511 4th St, Wilmington, DE 19805-3350
      View Details
    • Value Estimation by Request
      25,000 SF

      Kirkwood Hwy

      Neighborhood centers • 25,000 SF
      0 Kirkwood Hwy, Elsmere, DE 19805
      View Details
    • Value Estimation
      $520,000
      5,005 SF

      2405 Kirkwood Hwy

      SHOPPING CENTER, STRIP CENTER • 5,005 SF
      2405 Kirkwood Hwy, Wilmington, DE 19805-4906
      View Details
    • Value Estimation
      $345,000
      4,578 SF

      1012 Wilmington Ave

      SHOPPING CENTER, STRIP CENTER • 4,578 SF
      1012 Wilmington Ave, Wilmington, DE 19805-1560
      View Details
    • Value Estimation
      $935,000
      44,000 SF

      1702 Faulkland Rd

      SHOPPING CENTER, STRIP CENTER • 44,000 SF
      1702 Faulkland Rd, Wilmington, DE 19805-1160
      View Details

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    Similar Nearby for Lease

    • $18 SF/Yr
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      Canby Park Retail Center Space

      Wilmington, DE retail space: 1,600-10,000 SF available.
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      Wilmington Retail Spaces For Lease

      Retail spaces available in Wilmington, ranging from 1,600-10,000 SF.
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    • $16 SF/Yr
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      Wilmington Retail Center - The Cannery

      Prime Wilmington Retail Space, High Visibility
      3301 Lancaster Pike, Wilmington, DE 19805
      View Details
    • $19 SF/Yr
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      Retail and Office Center Space

      Neighborhood retail and office center with high foot traffic.
      500-540 Greenhill Ave, Wilmington, DE 19805
      View Details
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    Wilmington, DE 19805
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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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