825 N Market St,WILMINGTON, DE 19801
WILMINGTON, DE 19801
Description
825 N. Market Street | Wilmington, DE 19801 - Exceptional mixed-use building and investment opportunity in the heart of Downtown Wilmington's thriving business and entertainment district. This commercially zoned property is comprised of residential and commercial units as follows: Six total units: one street-level commercial space currently leased to a restaurant and five upper-floor apartments comprised of one 2BR unit, three 1BR units, and one studio apartment. Positioned directly across from the landmark Grand Opera House and surrounded by many popular restaurants, offices, hotels, new residential development, and year-round entertainment, 825 N. Market Street offers prime visibility and strong tenant appeal on one of the city's most desirable blocks in the heart of the Downtown Wilmington business and entertainment center and "Development District.". The ground-floor commercial space includes approximately 938 SF with a lease in place through 2028, while the residential units provide stable income with high occupancy. New roof and restaurant exhaust hood / stack installed in 2021. Potential exists for value-add rental increases. Each unit benefits from individually allocated HVAC and water heaters, and tenants pay all utilities except cold water and sewer. Located within the city's Development District and a federally designated "Opportunity Zone." Located two blocks from Rodney Square, the landmark world-famous Hotel DuPont and the new Widener Law School and education center (Former MBNA Bank building complex) and walking distance to the popular Wilmington Riverfront. This asset may also offer improvement incentive potential, subject to approval. Contact listing agent for lease schedules and operating income and expenses.
Details
| MLS # | DENC2104840 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1920 |
| Days On Site | 101 |
| Listing Provided By | Tesla Realty Group, LLC | Yasmin Bowman |
Features
| Zoning | 26C-3 |
|---|---|
| Acreage | 0.03 |
Interior
| Cooling | Multi Units, Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Forced Air, Heat Pump - Electric Back Up |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 8516 |
|---|
Area Information
| State | DE |
|---|---|
| County | NEW CASTLE DE |
| City | WILMINGTON |
| Zip Code | 19801 |
| Area | Wilmington (30906) |
| School District | CHRISTINA |
| Listing VS Median (in 19801) | |
Price: $895,000 low | high Med: $199,000 On site: 101 low | high Med: 24 | |
Market Activity 19801
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Learn More About This Property
| State | DE |
|---|---|
| County | NEW CASTLE DE |
| City | WILMINGTON |
| Zip Code | 19801 |
| Area | Wilmington (30906) |
| School District | CHRISTINA |
| Listing VS Median (in 19801) | |
Price: $895,000 low | high Med: $199,000 On site: 101 low | high Med: 24 | |
