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    Larry W Thompson Jr., Dover, DE

    License ID: R3-0018781
    R&r Commerical Realty
    Association
    Kent County Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (302) 270-1186
    Office Address:
    46 State St, Dover, DE, 19901

    Performance

    Listings
    19

    Listings

    For Sale (16)

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    • $2,900,000
      0.86 Acres

      Dover Retail Investment Opportunity

      NNN investment property anchored by Pizza Hut in Dover, DE.
      515 S Dupont Hwy, Dover, DE 19901
      View Details
    • $705,000
      0.71 Acres

      Restaurant Space Near Delaware Route 1

      Former restaurant space with BG zoning and high visibility available for sale.
      7821 Old Bch Rd, Frederica, DE 19946
      View Details
    • $1,450,000
      0.98 Acres

      Operating Daycare Business For Sale

      Income-producing daycare business and building with expansion potential.
      1339 S Governors Ave, Dover, DE 19904
      View Details
    • $799,000

      Dover Executive Office Building

      Prime Dover location, high visibility, adaptable space.
      65 Dupont Hwy, Dover, DE 19901
      View Details
    • $1,650,000
      1.32 Acres

      Dover Restaurant & Development Site

      High-traffic Hwy location, $1.65M
      4019 Dupont Hwy, Dover, DE 19934
      View Details
    • $979,000
      2.80 Acres

      Felton Commercial Land - $979K

      Prime 2.8-acre commercial lot in Delaware.
      9989 Dupont Hwy, Felton, DE 19943
      View Details
    • Contact for pricing
      0.02 Acres

      Prime Salisbury Commercial Land

      0.02-Acre Commercial Lot - $4,600
      620 Main St, Salisbury, MD 21804
      View Details
    • $4,200,000
      1,710 SF

      Executive Office Building, Dover DE

      Income-producing office, prime Dover location.
      905 Governors Ave, Dover, DE 19904
      View Details
    • $12,500,000
      52.00 Acres

      Middletown, DE Commercial Land - 52 Acres

      Prime 52-acre commercial parcel in Middletown, DE. Exceptional development opportunity.
      929 Middletown Warwick Rd, Middletown, DE 19709
      View Details
    • $1,197,000
      3,000 SF

      Downtown Dover Multi-Building Complex

      Executive Offices & Warehouse Space - $1.197M
      12 Lincoln St, Dover, DE 19904
      View Details
    • Contact for pricing
      18,000 SF

      Smyrna Townhome Apartment Complex

      20-Unit Multifamily Investment Opportunity
      420 Smyrna Clayton Blvd, Smyrna, DE 19977
      View Details
    • $120,000
      0.33 Acres

      Prime Cambridge Commercial Land

      0.33-Acre Commercial Lot, $120,000
      405 Cherry St, Cambridge, MD 21613
      View Details
    • $315,000
      1,926 SF

      Executive Office Building, Dover, DE

      Prime Dover Office, High Visibility
      1447 Governors Ave, Dover, DE 19904
      View Details
    • $315,000
      1,926 SF

      Dover Office Building - High Visibility

      Prime Dover location, 1926 sq ft office space.
      1447 Governors Ave, Dover, DE 19904
      View Details
    • $15,000,000

      Middletown Industrial Land For Sale

      74.73 acre industrial land, annexed into Middletown, zoned industrial.
      1023 Bunker Hill Rd, Middletown, DE 19709
      View Details
    • $1,450,000

      Income-Producing Daycare Business Opportunity

      Daycare business and building for sale with expansion potential.
      1339 S Governors Ave, Dover, DE 19904
      View Details

    For Lease (3)

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    • $15 SF/Yr
      8,264 SF

      Smyrna Retail Center - Prime Location

      Delaware Retail Space: Multiple Units Available
      94 Glenwood Ave, Smyrna, DE 19977
      View Details
    • $19 SF/Yr
      1,710 SF

      Dover Executive Office Suite

      Prime Dover Office, 1710 sq ft
      905 Governors Ave, Dover, DE 19904
      View Details
    • $79,920

      Industrial Building For Lease

      Industrial building suitable for various industrial uses available for lease.
      200 N Bassett St, Clayton, DE 19938
      View Details

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    Larry W Thompson Jr., Dover, DE
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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