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.
