111 9Th StWilmington, DE 19801

Property Details for 111 9Th St

Year built

1920

Construction

CONCRETE

Lot size

0.03 AC

Property size (Sq ft)

1,312 SF

Zone code

26C-4

Property type

Retail properties

Property subtype

Retail space

APN

26-035.20-050

APU

2603520050

Description

This exceptional investment opportunity presents a mixed-use property at 111 West 9th Street in Wilmington, Delaware's vibrant Central Business District. The property boasts a total of 2,578 square feet of net rentable space, currently configured as a ground-floor retail storefront and two upper floors ready for renovation. The asking price is $329,000. The building enjoys a high-visibility location, offering excellent exposure to pedestrian and vehicular traffic. Its strategic position directly across the street from "The Residence at Mid-Town Park," a luxury apartment complex, ensures a consistent flow of potential customers for the retail space and a strong tenant pool for future residential development. The current tenant occupies the ground floor storefront on a single tenancy agreement. The second and third floors offer significant potential for conversion into residential units, further enhancing the property's income-generating capabilities. This property is ideal for investors seeking a blend of immediate income and long-term appreciation potential in a thriving urban setting. The property's address is 111 W 9th St, Wilmington, DE 19801, situated in New Castle County.

• CAP approach

  CAP return

  Valuation

  6%

  $824,247

  6.5%

  $760,843

  7%

  $706,497

• Comparable approach

  Method

  Valuation

  Relative Method

  $701,166

  Geo Method

  $431,993

• Alternative Use

  Use

  Valuation

  Residential

  $641,800

  Hospitality

  $587,885

  Educational

  $489,113

  Medical

  $505,935

  Retail

  $760,843

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.7452

Longitude

-75.5492

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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