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201 W Market St 2,940 SF Retail Building Wilmington, DE 19804 $3,814,800 ($1,297.55/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Corporate Guarantee
- Proximity to Wilmington University
- Bonus Depreciation Eligible Asset
- Prime Location with Strong Traffic & Demographics
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a 7-Eleven located at 201 W Market St, Newport, DE 19950. The site consists of roughly 2,940 rentable square feet of building space on an estimated 0.48-acre parcel of land. This 7-Eleven is subject to a 15-year Triple Net (NNN) lease, which commenced 1/4/2021. The current annual rent is $190,740* and has scheduled increases of 10.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
2,940 SF
Building Class
C
Year Built
1976
Price
$3,814,800
Price Per SF
$1,297.55
Cap Rate
5%
NOI
$190,740
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.48 AC
Zoning
B
Frontage
178’ on W Market
AMENITIES
- Security System
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 20-001.00-091 | Improvements Assessment | $79,600 |
| Land Assessment | $157,900 | Total Assessment | $237,500 |
PROPERTY TAXES
Parcel Number
20-001.00-091
Land Assessment
$157,900
Improvements Assessment
$79,600
Total Assessment
$237,500
CONTACTS
-
Glen Kunofsky -
Matthew Anuszkiewicz -
Francis Purritano -
Joseph Kelly -
Christopher Marks -
Surmount
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201 W Market St
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