700 Market StWilmington, DE 19801

Property Details for 700 Market St

Year built

1945

Construction

CONCRETE

Lot size

0.11 AC

Property size (Sq ft)

4,720 SF

Zone code

26C-3

Property type

Retail properties

Property subtype

Retail space

APN

26-035.40-042

APU

2603540042

Description

This exceptional retail opportunity is located at 700 N Market Street, Wilmington, Delaware, at the highly visible corner of Market and 7th Streets. The property boasts a total of 14,400 square feet of space, currently entirely vacant and available for lease. The building is zoned C-3, allowing for a wide range of retail uses. The space is divisible, with a minimum leasable area of 4,800 square feet, offering flexibility for businesses of various sizes. This prime location within Wilmington's central business district ensures high foot traffic and excellent visibility, making it an ideal space for a flagship store or a multi-tenant retail development. The property's corner location provides exceptional exposure to Market Street and 7th Street, maximizing its marketing potential. The entire 14,400 square feet is available, presenting a unique chance to establish a significant presence in a thriving Delaware market. The property is situated in New Castle County, Delaware, with a zip code of 19801. This is a rare opportunity to secure a prominent retail space in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,965,278

  6.5%

  $2,737,180

  7%

  $2,541,667

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,522,489

  Geo Method

  $1,554,122

• Alternative Use

  Use

  Valuation

  Residential

  $2,308,914

  Hospitality

  $2,114,952

  Educational

  $1,759,616

  Medical

  $1,820,131

  Retail

  $2,737,180

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.7426

Longitude

-75.5494

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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