Skip To Content

227 N Maryland Avenue

WILMINGTON, DE 19804
  • $590,000
  • STATUS: Pending
  • ON SITE: 413 Days
  • ID#: DENC2042138
Pending
UPDATED: 83 min ago
$590,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Business Opportunity
Built:
1925
County:

School Ratings & Info

School District:

Description

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. The roof was replaced on 6/16/2023.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. New Roof Installed on 6/16/2023. 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. Property is sold as is, all liability is on the buyers for proper inspection and due diligence.

Monthly Payment Calculator



©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or At The Beach Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-19T20:54:49.553.
www.bartonatthebeach.com/homes/139157890
Print Image

227 N Maryland Avenue WILMINGTON, DE 19804

  • Price: $590,000
  • Status: Pending
  • On Site: 413 Days
  • Updated: 83 min ago
  • ID#: DENC2042138
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1925
Built
Neighborhood:
Wilmington (30906)
County:
New Castle
Area:
Wilmington (30906)
School District:
Red Clay Consolidated
Property Description
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. The roof was replaced on 6/16/2023.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. New Roof Installed on 6/16/2023. 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. Property is sold as is, all liability is on the buyers for proper inspection and due diligence.
Exterior Features

Construction Materials Stucco Garage YN No Location Type Corner Lot/Unit Lot Features Corner Parking Features Paved Parking Parking Types Parking Lot Water Access YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 6970.00 Cooling Window Unit(s) Exclusions Personal Items Heating Baseboard - Electric Heating YN Yes Inclusions Appliances (AS IS)

Property Features

Acceptable Financing CashConventional Accessibility Features None Central Air YN No Cooling Fuel Electric Cross Street Race Street Current Use ApartmentsRestaurant Electric Circuit Breakers Heating Fuel Electric Hot Water Electric Navigable Water YN N New Construction YN No Original MLSNumber 802315880826 Ownership Interest Other Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 1939.00 Tax Lot 495 Vacation Rental YN No Water Source Public Zoning CN

Listing courtesy of EXP Realty, LLC: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or At The Beach Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-19T20:54:49.553.
 
https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802315880826-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802315880826-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802315880826-2.jpg
Logo
At The Beach Real Estate
11615 1/2 Coastal Hwy Suite H
Ocean City MD, 21842