721 N King St, Wilmington, DE 19801
For Sale
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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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
26C-3 · Wilmington, DEWilmington. Always verify with local authorities before improvements.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.