Listed by Bowman Real Estate, LLC
$895,000
6 Unit Mixed Use Property in Heart of Downtown Wilmington.
Details
APN 2603520096
Property Type Multifamily, Mixed Use
Sub Type Apartment Building, Student Housing
Square Footage 4,500
Units 6
Cap Rate 9.00%
Tenancy Multi
Lease Type Modified
Class B
Year Built 1920
Year Renovated 2019
Buildings 1
Stories 3
Lot Size (SqFt) 1,111
Zoning Commercial
Ground Lease No
6 Units Mixed Use, Central Location, Vibrant Downtown Area
Marketing description
Multi Use Property at 825 N. Market Street, Wilmington, DE 19801 offers a rare opportunity to acquire a mixed-use asset in the heart of Downtown Wilmington’s thriving business and entertainment district. Positioned directly opposite the Grand Opera House and surrounded by popular restaurants, office buildings, hotels, events, and new development, this location delivers exceptional visibility and walkable urban appeal.
The property consists of six total units, including one street-level commercial space currently leased to a restaurant and five upper-floor apartments comprised of one 2-bedroom unit, three 1-bedroom units, and one studio. The approximately 938 SF ground-floor commercial space has a lease in place through 2028, providing stable income from day one.
With current annual gross scheduled income of $110,244, high occupancy, and tenants paying all utilities except cold water, this asset is well-positioned for investors seeking dependable cash flow and future upside. Additional value-add potential is supported by individually allocated HVAC and water heaters, Opportunity Zone designation, and location within the city’s Development District, which may allow eligibility for improvement incentives subject to approval.
Investment highlights
PROPERTY OVERVIEW
- Prime Downtown Wilmington location directly across from the Grand Opera House
- Mixed‑use configuration with strong visibility and foot traffic
- Six total units:
- One street‑level commercial space (restaurant tenant)
- Five residential apartments: one 2‑BR, three 1‑BR, one studio
- Walkable to restaurants, offices, hotels, and entertainment venues
💰 INVESTMENT HIGHLIGHTS
- Annual Gross Scheduled Income: $110,244
- Commercial lease in place through 2028 — stable income from day one
- High occupancy across all units
- Tenants pay all utilities except cold water
- Individually allocated HVAC and water heaters
- Strong long‑term appreciation potential
📈 VALUE‑ADD & INCENTIVE POTENTIAL
- Located in a federally designated Opportunity Zone
- Within Wilmington’s Development District — potential eligibility for improvement incentives (subject to approval)
- Flexible mixed‑use layout supports future repositioning or rent growth
📍 LOCATION ADVANTAGES
- Directly opposite the Grand Opera House
- Surrounded by Market Street dining, retail, offices, and cultural venues
- High pedestrian visibility
- Transit‑connected, walkable urban environment. Easy access to public transportation, Biden Amtrak train station, bus depots and Wilmington Riverfront attractions.
- Two blocks from the new Widener Law downtown campus and education center
- Easy access to major roadways and highways like I-95.
🔑 SUMMARY
A high‑visibility, income‑producing mixed‑use property with stable cash flow, long‑term tenancy, and multiple potential for value creation — ideal for investors seeking dependable returns in a growing urban market.
Listing Contacts
Listed by Bowman Real Estate, LLC
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