107 9Th StWilmington, DE 19801

Property Details for 107 9Th St

Year built

1920

Construction

CONCRETE

Lot size

0.03 AC

Property size (Sq ft)

1,080 SF

Zone code

26C-4

Property type

Office properties

Property subtype

Other office properties

APN

26-035.20-052

APU

2603520052

Description

This exceptional 1,080-square-foot ground-level commercial property is ideally situated in Wilmington's central business district, just off Market Street. Currently in vanilla shell condition, this versatile space offers significant potential for a variety of uses, including retail and executive office. The property boasts two convenient access points on West 9th Street, providing excellent street visibility and accessibility. A single bathroom is included. The location is highly desirable, surrounded by newly constructed luxury apartments and directly across from a large apartment complex, ensuring a robust customer base and high foot traffic. The 0.03-acre lot is zoned 26C-4 - Central Office (City of Wilmington), allowing for flexibility in tenant occupancy. This presents a unique opportunity to acquire a well-located commercial property in a thriving urban environment. The asking price is $225,000. The property's proximity to major city attractions further enhances its appeal and investment potential. This is a rare chance to own a piece of Wilmington's vibrant downtown core.

• CAP approach

  CAP return

  Valuation

  6%

  $461,562

  6.5%

  $426,057

  7%

  $395,624

• Comparable approach

  Method

  Valuation

  Relative Method

  $229,040

  Geo Method

  $141,113

• Alternative Use

  Use

  Valuation

  Residential

  $528,311

  Hospitality

  $483,930

  Educational

  $402,624

  Medical

  $416,471

  Retail

  $626,304

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.7452

Longitude

-75.5491

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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