The Mitchell-Anderson House
Office | 7.20% CAP | 4,873 SqFt
Marketing description
Own a Piece of History: A Premier Dual-Building Commercial Opportunity in Downtown Wilmington
This rare offering presents a truly unique opportunity to acquire two contiguous, centrally located commercial properties in the heart of Wilmington’s thriving Central Business District. Together, 102 and 104 Orange Street deliver an unparalleled combination of historic prestige, modern commercial functionality, and strong investment fundamentals.
The Crown Jewel: 102 Orange Street (The Mitchell-Anderson House)
More than just an office building, 102 Orange Street is a meticulously preserved landmark. Originally constructed circa 1738, it holds the prestigious distinction of being Wilmington’s oldest surviving building.
- Award-Winning Restoration: In 2017, the property underwent a comprehensive, top-to-bottom modernization utilizing the rigorous Federal & State Historic Tax Credit programs. The result is a stunning blend of pristine historic character—including original fireplaces, restored woodwork, and classic architectural details—paired with fully updated mechanical, electrical, and plumbing systems.
- Registry Benefits: Its placement on the National Register of Historic Places offers an incoming investor immense pride of ownership, distinct market credibility, and potential long-term tax and preservation advantages.
The Complete Package: 104 Orange Street & On-Site Parking
Complementing the landmark structure is 104 Orange Street, providing additional flexible commercial footprint. Together, the two buildings offer a combined 4,873 square feet of highly adaptable space perfectly suited for a premium corporate headquarters, boutique retail, medical/professional offices, or an upscale hospitality concept.
Adding immense value to this downtown portfolio is dedicated private parking—an exceptionally rare and highly coveted amenity in the Central Business District that significantly enhances tenant retention and operational convenience.
Investment Highlights & Location Fundamentals
Offering an attractive in-place 7.20% CAP rate, this turnkey portfolio requires minimal immediate capital expenditure thanks to its recent institutional-grade overhaul.
Positioned strategically in downtown Wilmington, the properties sit just steps away from the courthouse, local financial institutions, major thoroughfares, and the bustling, award-winning Wilmington Riverfront. Whether you are looking to house your own business in an irreplaceable trophy asset or secure a stabilized income-producing property in a high-growth coastal market, this Orange Street portfolio stands unmatched.
Investment highlights
- Irreplaceable Trophy Asset: Includes the Mitchell-Anderson House (circa 1738), officially recognized as Wilmington’s oldest surviving building.
- Award-Winning Renovation: Restored in 2017 via the rigorous Federal & State Historic Tax Credit programs, combining pristine historic character with modern, turnkey commercial infrastructure.
- Strong In-Place Cash Flow: Delivering a strong 7.20% CAP rate with minimal deferred maintenance required.
- Rare CBD Amenity: Features dedicated private parking—an exceptionally rare and highly valuable asset in the heart of the Central Business District.
- Flexible Zoning & Future Upside: Two contiguous properties with flexible CBD zoning, offering versatile layouts for office, boutique retail, or premium hospitality.
- Prime Downtown Position: Unbeatable location steps from the courthouse, financial center, and the bustling Wilmington riverfront.
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