201 Market StWilmington, DE 19801

Property Details for 201 Market St

Year built

1920

Construction

CONCRETE

Lot size

1.01 AC

Property size (Sq ft)

12,000 SF

Zone code

26C-3

Property type

Retail residential properties

APN

26-043.10-200

APU

2604310200

Description

This fully equipped restaurant space, totaling 2,350 square feet, is ideally situated at the corner of 2nd and Market Streets in Wilmington, Delaware's historic downtown district. The property boasts a C-3 Central Retail zoning designation, ensuring flexibility for various culinary ventures. The space is a single-tenant occupancy and comes complete with an oversized hood system, a walk-in refrigerator, a pizza oven, ample sinks, bar stools, tables and chairs, and multiple televisions. Its prime location offers exceptional visibility and accessibility, situated just two blocks from the Wilmington Amtrak Station. Furthermore, its proximity to the Riverfront, Chase Bank, theaters, colleges, retail establishments, and numerous apartment buildings guarantees a high volume of foot traffic and potential clientele. This turnkey opportunity presents a rare chance to establish or expand a thriving restaurant business in a vibrant and well-connected urban setting within the 2nd & LOMA submarket cluster of Downtown Wilmington. The address is 201 N Market St, Wilmington, DE 19801.

• CAP approach

  CAP return

  Valuation

  6%

  $6,359,296

  6.5%

  $5,870,119

  7%

  $5,450,824

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,944,570

  Geo Method

  $2,430,276

• Alternative Use

  Use

  Valuation

  Residential

  $5,870,119

  Hospitality

  $5,376,998

  Educational

  $4,473,598

  Medical

  $4,627,452

  Retail

  $6,958,931

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.7394

Longitude

-75.5524

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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