505 Market StWilmington, DE 19801

Property Details for 505 Market St

Year built

1930

Construction

CONCRETE

Lot size

6.03 AC

Property size (Sq ft)

3,730 SF

Zone code

26W4

Property type

Office properties

Property subtype

Other office properties

APN

26-049.00-011

APU

2604900011

Description

This exceptional 1,365 square foot retail space in Historic Downtown Frederick presents a unique opportunity for discerning businesses. Located at 505 N Market St, in New Castle County, this single-tenant property boasts a stately and compelling presence. The space features huge windows showcasing the vintage storefront, creating an inviting atmosphere for customers. Inside, the refined look and dramatic finishes create a magisterial feel. The open layout provides ample space for various retail configurations, complemented by ample storage. A private, spacious bathroom and a separate back office area offer added convenience and functionality. The property has been meticulously maintained, reflecting its impeccable care and high-quality construction. This prime location places your business in the heart of Downtown Frederick, allowing you to benefit from the area's vibrant atmosphere and strong foot traffic. The property is currently vacant and ready for immediate occupancy. This is a rare opportunity to secure a truly exceptional retail space in a highly desirable location. Don't miss out on this chance to establish your business in a historic and thriving downtown setting.

• CAP approach

  CAP return

  Valuation

  6%

  $1,594,098

  6.5%

  $1,471,475

  7%

  $1,366,369

• Comparable approach

  Method

  Valuation

  Relative Method

  $791,035

  Geo Method

  $487,362

• Alternative Use

  Use

  Valuation

  Residential

  $1,824,629

  Hospitality

  $1,671,350

  Educational

  $1,390,544

  Medical

  $1,438,366

  Retail

  $2,163,068

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.7316

Longitude

-75.5579

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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