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305 W 2nd St - Apartment Development Opportunity 0.35 Acres of Commercial Land Offered at $1,193,710 CAD in Wilmington, DE 19801
Investment Highlights
- Population has most continued growth in Downtown and the Riverfront areas due to City incentives (grants, tax abatements).
- Rental housing shortage for higher-level of quality apartments
- Class-A office has remained stable with recent large office users coming to the downtown area (Incyte).
- Housing availability is low with strong 92% +/- rental occupancy rates
- Employment projection of 9% growth between 2020-2030 (aligns with population growth).
Property Facts
| Price | $1,193,710 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.35 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | 26C-1 | ||
| Price | $1,193,710 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.35 AC |
| Opportunity Zone |
Yes |
| Zoning | 26C-1 |
1 Lot Available
Lot
| Price | $1,193,710 CAD | Lot Size | 0.35 AC |
| Price Per AC | $3,410,600.13 CAD |
| Price | $1,193,710 CAD |
| Price Per AC | $3,410,600.13 CAD |
| Lot Size | 0.35 AC |
Description
Wilmington River Views, once constructed, is envisioned to be a high-end boutique apartment development consisting of 35 Units. Wilmington, Delaware has demonstrated strong revitalization over the past 10 years with continuing growth predicted over the coming decade making Wilmington prime for real estate investment. Developer is receiving final approvals from the City of Wilmington. Buyer would have to submit final permit plans in order to start construction.
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Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
50/100
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305 W 2nd St - Apartment Development Opportunity
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