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    FOR SALE
    Turn key restaurants

    721 N King St, Wilmington, DE 19801

    1,476 SF 0.04 ac lot Built 1940
    Individually Owned Absentee Owner Free & Clear
    Property ID
    US17-0234304
    Property summary
    AI-generated overview

    This thriving restaurant, located at 721 N King St in Wilmington, Delaware's historic district, presents a unique investment opportunity. The 1,476 square foot space, built in 1940, is a fully operational cafe with a "fully loaded" kitchen capable of handling all cooking needs. Currently serving lunch Monday through Thursday from 11:00 AM to 2:00 PM, the restaurant seats 32 guests and primarily caters to nearby businesses, including law firms and banks. The convenient location allows for a significant walk-in clientele. Street parking is available. The current limited hours offer substantial potential for expansion, including breakfast and dinner service, and the addition of alcoholic beverages (subject to OABCC approval). The seller is offering a two-week financing option post-closing to facilitate a smooth transition for the new owner. This turnkey operation is ideally positioned to capitalize on the vibrant downtown Wilmington market. The asking price is $425,000. This is a rare opportunity to acquire an established business with significant upside in a prime location.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1940
    Construction CONCRETE
    Total area 1,476 SF
    Lot 0.04 ac (1,742 SF)
    Zoning code 26C-3
    APN 26-035.40-050
    UPID US17-0234304
    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
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    Owner & transaction history
    CONSTANTINOS KRAMEDAS
    CONSTANTINOS KRAMEDAS
    Zoning & alternative use
    26C-3 · Wilmington, DE
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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