Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    510 Madison St Wilmington, DE 19801

    • Office Properties & Spaces
    • 10,138 SF
    • 2.08 lot acres
    OFF-MARKET
    Value Estimations
    $1,800,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0323100
    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

    • Office Properties & Spaces

    Property Details for 510 Madison St

    Year built
    1940
    Construction
    CONCRETE
    Lot size
    2.08 lot acres
    Property size
    10,138 SF
    Zone code
    26W2
    Property type
    Office Properties & Spaces
    APN
    26-049.00-036
    APU
    2604900036

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,720,000
      6.5%
      $1,590,000
      7%
      $1,475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,883,000
      Market price range: $1.50M - $3.22M
      AI Estimate
      $1,927,000
      Market price range: $1.14M - $3.16M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,095,000
      Current use
      RETAIL STORES
      $2,090,000
      Change: -0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5616
    Latitude
    39.7351
    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
    $0.00
    $83,200
    $531,800
    $615,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,970,000
      14,258 SF

      800 King St

      OFFICE (GENERAL) • 14,258 SF
      800 King St, Wilmington, DE 19801-3550
      View Details
    • Value Estimation by Request
      636 SF

      1206 King St

      OFFICE (GENERAL) • 636 SF
      1206 King St, Wilmington, DE 19801-3218
      View Details
    • Value Estimation by Request
      1,794 SF

      103 7th St

      OFFICE (GENERAL) • 1,794 SF
      103 7th St, Wilmington, DE 19801-2236
      View Details
    • Value Estimation
      $4,295,000
      20,441 SF

      321 11th St

      OFFICE (GENERAL) • 20,441 SF
      321 11th St, Wilmington, DE 19801-3422
      View Details
    • Value Estimation by Request
      1,832 SF

      1 Hausel Rd

      OFFICE (GENERAL) • 1,832 SF
      1 Hausel Rd, Wilmington, DE 19801-5800
      View Details
    • Value Estimation
      $5,420,000
      26,208 SF

      1000 St

      OFFICE (GENERAL) • 26,208 SF
      1000 St, Wilmington, DE 19801-1050
      View Details

    Similar Nearby for Sale

    • $324,900
      5,079 SF

      Downtown Wilmington Office Condo

      5,079 SF Office Condo, $324,900
      625 Orange St, Wilmington, DE 19801
      View Details
    • $225,000
      1,080 SF

      Downtown Wilmington Executive Office

      Prime 1,080 SF Retail/Office Space
      107 9Th St, Wilmington, DE 19801
      View Details
    • $1,250,000
      7,200 SF

      Wilmington Office Building For Sale

      Multi-story office building in Wilmington's Central Business District.
      1205 N Orange St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      5,760 SF

      Wilmington Office Building For Sale

      5,760 SF office building in Wilmington's thriving downtown core.
      921 N Orange St, Wilmington, DE 19801
      View Details
    • $400,000
      4,326 SF

      Downtown Wilmington Professional Office Space

      Professional office space in Downtown Wilmington near Courthouse and Government Center.
      Wilmington, DE 19801
      View Details
    • $1,100,000
      10,000 SF

      Wilmington Opportunity Zone Office Building

      Four-story office building in Wilmington's Central Business District.
      716 N Tatnall St, Wilmington, DE 19801
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      249,799 SF

      PNC Bank Center: Premier Wilmington Office

      Class A Office Space, Downtown Wilmington
      222 Delaware Ave, Wilmington, DE 19801
      View Details
    • $22 SF/Yr
      86,397 SF

      Prime Wilmington Executive Suites

      82,518 SF Available, Delaware
      919 Market St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      160,600 SF

      Wilmington Executive Office Space

      Prestigious Wilmington office suites available.
      600 King St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      19,112 SF

      Downtown Office Space For Rent

      Office space with on-site parking and collaborative common areas.
      1313 N Market St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      9,489 SF

      Office Space with Free Parking

      Two-story office building with riverfront amenities and free parking.
      555 Justison St, Wilmington, DE 19801
      View Details
    • Contact for pricing
      6,344 SF

      Office Space Near Train Station

      Office suites with Christina River views and parking available.
      110 S Poplar St, Wilmington, DE 19801
      View Details
    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.
    510 Madison 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.