New search
Property profile & analytics
FOR LEASE
Retail space
824 N Market St, Wilmington, DE 19801
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US17-0253459
For Lease
1 / 2
$24 SF/Yr
824 N Market St, Wilmington, DE 19801
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1984
Construction
ADOBE
Total area
23,314 SF
Lot
0.66 ac (28,750 SF)
Zoning code
26C-4
APN
26-035.20-103
UPID
US17-0253459
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
Current use
Occupant on record · Public records
-
T-Mobile Authorized Retailer Mobile Phone Store Electronics & Wireless Store
-
DLS Creative (Bike/Boat/Book/etc) Store Printing Service
-
Immigration Law Office of Nina Qureshi, Esq. Law Firm
-
The Rosner Law Group LLC Law Firm
-
Bankruptcy Court Courthouse
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.47M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.21M
Owner & transaction history
824 Equity LLC · 6 yrs held
824 Equity LLC
since 2020
6 recorded transactions
Zoning & alternative use
26C-4 · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.8M
+0.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wilmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wilmington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,760,000
6.5%
$3,470,000
7%
$3,225,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,805,000
Current use
COMMERCIAL (GENERAL)
$4,820,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$4.21M
Range $3.79M – $4.63M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$181 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$40,658
Tax year 2023
Assessed value
$7,655,000
Assessed 2023
Previous assessed
$11,300,000
-32.3% YoY
Effective rate
0.53%
On assessed value
Assessed land
$1,725,000
Assessed improvement
$5,930,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1984
Construction
ADOBE
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
23,314 SF
Lot
0.66 ac (28,750 SF)
Zoning code
26C-4
APN
26-035.20-103
UPID
US17-0253459
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
26C-4 · Wilmington, DE
Zoning 26C-4 · permitted uses
26C-4 · Wilmington, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wilmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.8M
COMMERCIAL (GENERAL)
Est. value
$4.8M
RETAIL STORES Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
ADOBE
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
824 Equity LLC
Entity
Mailing address
15 AMERICA AVE UNIT #111, LAKEWOOD, NJ 08701-4581
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2025
—
824 Equity LLC
—
Deed
related
$14,250,000 · Parke Bank
Apr 27, 2020
—
824 Equity LLC
Eco Sbc 2015 1 Reo 167061 LLC
Deed
$14,850,000 · Wells Fargo Bank NA
Nov 1, 2016
$250,000
Eco Sbc 2015-1 Reo 167061 LLC
Sheriff Of New Castle County|greit-824 Market LLC
Trustees Deed
—
Jul 12, 2007
$10
Nnn 824 North Market Street 20
Nnn 824 North Market Street Ll
Grant Deed
—
Jun 29, 2007
—
Nnn 824 North Market Street LLC
Greit 824 Market Street LLC
Deed
$29,280,000 · Lasalle Bank NA
—
—
Greit-824 Market Street LLC
—
Deed Of Trust
related
$18,750,000 · Lasalle National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
