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227 N Maryland Avenue Wilmington, DE $ 555,900
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$ 555,900 Get more info
227 N Maryland Avenue
$ 555,900
Back to search
Share Save

227 N Maryland Avenue

Wilmington, DE, 19804
$ 555,900
Baths0.0 Sq 6,970

Monthly Estimate*

$ 3,883

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Studio

Commercial Property for sale in Wilmington, DE

for $555,900. This 6,970 square foot building was built in 1925 on a lot size of 0.16.

Welcome to 227 N. Maryland Ave, Wilmington Delaware - a prime commercial real estate opportunity! This unique property boasts a 6-unit apartment building with one retail unit, home to the thriving and popular Mexican restaurant, Burrito Bandido. Situated in a highly desirable location, this property presents an excellent investment opportunity for those seeking to capitalize on the growing demand for commercial real estate in New Castle County Delaware. The apartments are spacious and well-maintained, offering residents a comfortable and convenient living experience. The retail unit, home to Burrito Bandido, is a well-established restaurant that has been serving the community for 18 years. The restaurant has a loyal customer base and has garnered an excellent reputation for its delicious food, welcoming atmosphere, and attentive service. This property is an excellent opportunity for an investor seeking to generate stable income from multiple sources. The apartments provide consistent rental income, and the restaurant lease offers a stable and long-term tenant with a strong track record. The roof was replaced 6/16/2923. The location is also highly desirable, with easy access to public transportation and nearby amenities, including shopping centers and parks. Don't miss this chance to invest in a prime commercial real estate property in New Castle County Delaware. Contact us today to schedule a showing and see for yourself what this exceptional property has to offer! 2023 numbers are in and the property CAP Rate has increased to 8.69% NOTE: The heater / AC and ALL the restaurant equipment belong to the tenant.

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Commercial Pending

Price

$ 555,900

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 1,939

Style

Apartment Building,Restaurant/Bar

Lot Size

0.16

Year Built

1925

Town/City

Wilmington

County/Region

New Castle

MLS | Web ID

DENC2042132
Features
Interior
Heating Fuel Electric
Hot Water Electric
Heating Y/N Y
Street Suffix AVENUE
Central Air Y/N N
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General
Sewer Public Sewer
Heating Baseboard - Electric
Cooling Window Unit(s)
Possession Immediate
Zoning CN
Construction Materials Stucco
Exclusions Personal Items
Year Built 1925
Property SubType Five Or More Units
Tax Year 2022
Percent Ownership Fee Simple
Cool Fuel Electric
Business Type Apartment Building Restaurant/Bar
Accessibility None
County NEW CASTLE
New Construction N
Property Type Commercial Sale
Possible Use Apartment Building Restaurant
Water Access Y/N N
Status PENDING
Directions From DE-1 N to New Castle County. Take exit 5 from I-295 N. Follow DE-141 N to DE-4 E
City WILMINGTON
Buyer Agent Compensation 2.5
Total Units 6
MLS Area Wilmington (30906)
Lot Size Square Feet 6970.00
Waterfront Y/N N
Street Name MARYLAND
Tax Annual Amount 1939.0
Price Per Sq Ft 79.76
Vacation Rental Y/N N
Virtual Tour https://www.asteroom.com/editor/PanoViewer.html?projectid=08db4e55-decd-4ec2-819f-de16fad24168&t=1689602640000
Days on Market 299
Standard Status Pending
Year Built Source Estimated
Tax Lot 495
Cap Rate 8.69
Buyer Agent Compensation Type % Of Gross
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Exterior
Parking Features Paved Parking Private
Lot Features Corner
Water Source Public
Inclusions Appliances (AS IS)
Type of Parking Parking Lot
Water View Y/N N
Building Area Total 6970.00
Lot Dimensions 50.00 x 140.00
Lot Size Acres 0.16
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 17400.00
Navigable Water Y/N N
Water Oriented Y/N N
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Internal Only
Street Number 1 227
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* Excluded Features
List By
Exp Realty, Llc

Broker

robert.comegys@exprealty.com

Email

Affordability Calculator

$4,045
Per Month
96%
4%
0%
Monthly Principal & Interest
$3,883
Monthly Property Taxes
$162
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2136830 Elementary School
2137124 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
3/15/2024$555,900 -5.78% Price Down
12/2/2023$590,000 -0.84% Price Down
9/10/2023$595,000 -0.83% Price Down
5/3/2023$600,000 Listed Price

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227 N Maryland Avenue, Wilmington, DE, 19804 is a Commercial Property for sale at $555,900 with 6,970 sqft and a lot size of 0.16. 227 N Maryland Avenue is a studio with 0.0 baths and was built in 1925. The property's zip code is 19804 which is in Wilmington, DE

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