1330 Read Street, Wilmington, DE 19805 For Sale

Rare Development & Investment Opportunity in the City of Wilmington! Unlock the potential of this exceptional land offering in a well-established residential neighborhood. Situated at 1330 Read Street, this versatile property presents a unique opportunity for developers, investors, or owner-users seeking to capitalize on Wilmington's continued “revitalization.”

Currently improved with five income-producing garages, including two double-wide garage units, the property also features a small front office/storage area complete with a toilet and sink, making it ideal for storage, workshop, contractor, or light operational use. A secure gated entrance provides controlled access, while recent improvements—including a new roof and updated gutters—enhance the property's value and functionality.

Based on seller's estimation, it "may" be possible to build at least two, maybe three, single-family town homes on the lot. Buyers are encouraged to conduct due diligence or "subject to" terms regarding building feasibility and city permitting.

Beyond its existing income potential, the property's generous footprint and elevated hilltop setting create exciting redevelopment possibilities. Subject to City of Wilmington approvals, buyers may wish to explore opportunities for new townhomes, condominiums, or other residential development, or other permitted uses. The elevated location offers attractive city views and an appealing setting for future residential construction.

Conveniently located with quick access to Interstate 95, downtown Wilmington, shopping, dining, employment centers, and public transportation, this property combines accessibility with exceptional upside potential.

Opportunities to acquire flexible development sites in established City of Wilmington neighborhoods are increasingly scarce. Whether you're seeking immediate income, redevelopment potential, or a long-term investment, 1330 Read Street deserves your consideration.

Buyers are encouraged to perform all needed due diligence regarding zoning, permitted uses, subdivision, and development feasibility.