833 N Market St, Wilmington, DE 19801

$1,050,000

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List Price: $1,050,000
Days on Market: 16
Status: ACTIVE
MLS#: DENC2107156
Lot Size (Acres): 0.05
Style: Other
Year Built: 1928
County: New Castle
School District: Christina

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Property Description

Presenting to you the Historic Farmers Mutual Building in Downtown Wilmington, DE, this mixed-use piece of real estate, with 26C-3 zoning, is equipped with approvals for a 57-seat restaurant and a lower-level speakeasy. Share the neighborhood with household names such as La Fia, Bardea, Le Cavalier and more. Upstairs: 4 fully occupied two-bedroom apartments. Renovated in 2020, these industrial-chic floorplans display 15 ft ceilings, exposed brick, plus open duct, beam and woodwork for a lofted, urban appeal. Situated on a main commerce street among Christiana Care, Widener Law and the city’s corporate hub. Generating upwards of $91,000 in annual residential revenue, the pro forma projects a prospective double-digit capitalization rate with an establishment in place. Done with love, reach out for details on the brand-new plumbing, HVAC and electrical fit-out with separated systems. For those who have lost hope in real returns, for business operators, and for investors looking to complete an exchange, this is an optimal addition to your portfolio.

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