Listed by LMT Commercial Realty, LLC.
$875,000
305 W 2nd Street (Wilmington River Views)
Details
Property Type Multifamily
Sub Type Apartment Building
Units 35
Tenancy Vacant
Class A
Buildings 1
Stories 3
Acreage 0.350
Parking Spaces 16 spaces
Investment Type Redevelopment
Apartment Development Opportunity
Marketing description
Wilmington River Views, once constructed, is envisioned to be a high-end boutique apartment development consisting of 35 Units. Wilmington, Delaware has demonstrated strong revitalization over the past 10 years with continuing growth predicted over the coming decade making Wilmington prime for real estate investment.
Developer is receiving final approvals from the City of Wilmington. Buyer would have to submit final permit plans in order to start construction.
Investment highlights
- Population has most continued growth in Downtown and the Riverfront areas due to City incentives (grants, tax abatements).
- Housing availability is low with strong 92% +/- rental occupancy rates
- Rental housing shortage for higher-level of quality apartments
- Employment projection of 9% growth between 2020-2030 (aligns with population growth).
- Class-A office has remained stable with recent large office users coming to the downtown area (Incyte).
Listing Contacts
Listed by LMT Commercial Realty, LLC.
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Zoning
C-1 CommercialNeighborhood CommercialNeighborhood Shopping
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View all 21 uses Last updated Jun 1, 2026 For deeper zoning details, reports are available at Zoneomics
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