2720 Washington StWilmington, DE 19802
- Retail properties
- 1,533 SF
Property Details for 2720 Washington St
- Year built
- 1899
- Construction
- CONCRETE
- Lot size
- 0.05 AC
- Property size (Sq ft)
- 1,533 SF
- Zone code
- 26R-3
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 26-015.40-098
- APU
- 2601540098
Description
This exceptional mixed-use property at 2720 N Washington Street in Wilmington, Delaware presents a unique investment opportunity. Boasting 2,636 square feet on a 0.05-acre lot, this corner property offers unparalleled visibility and accessibility. The building's versatile design allows for a seamless blend of commercial and residential use. The main floor, ideal for a variety of businesses, provides ample space for retail, a restaurant, daycare center, or other commercial ventures. The possibilities are numerous, catering to a wide range of entrepreneurial pursuits. Upstairs, the residential space comprises two bedrooms and one and a half bathrooms, providing comfortable living quarters. This space could serve as owner-occupied housing or generate additional income as a rental unit. The property's strategic location at the corner of N Washington Street offers excellent visibility and convenient access to Concord Avenue, Concord Pike, and Interstate 95, ensuring high traffic flow and easy commuting. This is a rare chance to acquire a thriving mixed-use property in a highly desirable Wilmington location, combining the benefits of business ownership with the convenience of residential living, or the potential for substantial rental income. The asking price is $175,000. This property is ready for immediate occupancy and offers significant potential for growth and return on investment.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $963,087
- 6.5%
- $889,003
- 7%
- $825,503
-
Comparable approach
- Method
- Valuation
- Relative Method
- $819,274
- Geo Method
- $504,760
-
Alternative Use
- Use
- Valuation
- Residential
- $749,908
- Hospitality
- $686,911
- Educational
- $571,502
- Medical
- $591,157
- Retail
- $889,003
Location Insight
- City
- Wilmington
- County
- New Castle
- State
- Delaware
- Latitude
- 39.7579
- Longitude
- -75.5362
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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