Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Georgetown Land For Sale Title is generated by Realmo AI

    308 FRANKLIN Street, Georgetown, DE 19947

    View on Map
    Claim this Listing
    Picture of Commercial land at 308 FRANKLIN Street, Georgetown, DE
    For Sale
    $125,000

    LAND - GEORGETOWN, DE

    Lot size:
    0.20 Acres
    Added:
    Mar 19, 2026
    Days on Market:
    56
    Last Refresh:
    May 13 at 4:06 am

    Property Features for 308 FRANKLIN Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    315

    We can help!

    Listing Contact
    LEWIS W BRIGGS II
    LEWIS W BRIGGS II

    Listing agent LEWIS W BRIGGS II License #RS-0018820

    Listing office COOPER REALTY ASSOCIATES INC 12 S Front Street, Lewes, DE

    Listing date Mar 19, 2026

    MLS# DESU2107324 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Single lot in the Town of Georgetown.
    • Plan for the future: Buy Now, build later!
    • Vacant lot.
    • Location: [-75.39318,38.68955]
    • Adjacent vacant lot is also for sale.
    • Single lot.

    Overview

    A single 0.2-acre lot is available in the Town of Georgetown. This vacant lot presents an opportunity for future development. An adjacent vacant lot is also for sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Georgetown
    County
    Sussex
    State
    Delaware
    Longitude
    -75.39318
    Latitude
    38.68955

    Nearby Similar for Sale

    • $295,000

      Georgetown Church on Route 113

      Well-maintained church with redevelopment potential on 1.04 acres.
      18793 DUPONT Boulevard, GEORGETOWN, DE 19947
      View Details
    • $220,000
      4,200 SF

      Georgetown Manufacturing/Warehouse Facility For Sale

      4200 SF Georgetown Airport Business Park building for sale.
      21646 BALTIMORE AVENUE, GEORGETOWN, DE 19947
      View Details
    • $235,000

      Georgetown, DE Vacant Commercial Land

      Prime commercial land on Route 9, endless possibilities await!
      22882 LEWES GEORGETOWN HWY, GEORGETOWN, DE 19947
      View Details
    • $199,000
      1,550 SF

      Versatile Commercial Building in Georgetown

      1,550 SF building with B-1 zoning for office/warehouse use.
      20303 HARDSCRABBLE Rd, Georgetown, DE 19947
      View Details
    • $1,490,000
      6,500 SF

      Georgetown Portfolio with Development Potential

      Portfolio of 5 properties with buildings and vacant land.
      106 E LAUREL St, Georgetown, DE 19947
      View Details
    • $99,000

      Georgetown Vacant Lot For Sale

      Vacant lot in Georgetown, DE, with development incentives.
      114 N BEDFORD Street, GEORGETOWN, DE 19947
      View Details
    • $495,000

      Poultry Farm on Route 18

      Three-house poultry farm in Sussex County with cropland value.
      13651 WILSON HILL Rd, Georgetown, DE 19947
      View Details
    • $369,900

      Georgetown Mixed-Use Investment Opportunity

      Mixed-use property near downtown Georgetown with redevelopment potential.
      109 BEDFORD St, Georgetown, DE 19947
      View Details
    • $250,000

      Wooded Lot in Georgetown, DE

      1.13-acre wooded lot in a desirable Georgetown community.
      24762 MILLPOND Lane, GEORGETOWN, DE 19947
      View Details
    • $79,000

      Vacant Lot in Georgetown, DE

      Vacant lot on Market Street, Georgetown. Buyer responsible for utilities.
      112 W MARKET Street, GEORGETOWN, DE 19947
      View Details
    • $460,000
      3 SF

      Georgetown Commercial Land Ready Development

      3.07 acres of cleared commercial land for development.
      Pleasant Street, Georgetown, DE 19947
      View Details
    • $349,000

      Georgetown Land with Development Potential

      8.4 acres near Milton, DE with development potential.
      18932 SHINGLE POINT ROAD, GEORGETOWN, DE 19968
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant lot available in Georgetown, Delaware.
    Where is this commercial land located?
    The property is located at 308 FRANKLIN Street Georgetown, DE.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Single lot in the Town of Georgetown.; Plan for the future: Buy Now, build later!; Vacant lot.
    (302) 856-6434
    We can help!
    Listing Contact
    LEWIS W BRIGGS II
    LEWIS W BRIGGS II
    Real Estate License ID: RS-0018820
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    308 FRANKLIN Street, GEORGETOWN, DE 19947
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!