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    38555 DUPONT BLVD Selbyville, DE 19975

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    For Lease
    $1,600 /Mo

    CommercialLease - SELBYVILLE, DE

    Type:Office
    Added:
    Nov 18, 2024
    Days on Market:
    516
    Last Refresh:
    Apr 18 at 9:06 am

    Property Features for 38555 DUPONT BLVD

    General Information

    Property type
    Other
    Property subtype
    Office
    Parking
    5
    Parking features
    Parking Lot
    Standard status
    Active

    Utilities

    Heating system
    Heat Pump (Heating), Electric (Heating)
    Cooling system
    Heat Pump, Central Air

    Building Details

    Year built
    2004
    Building materials
    Frame

    We can help!

    Listing Contact
    SUSAN A MILLS
    SUSAN A MILLS

    Listing agent SUSAN A MILLS License #RB-0020271

    Listing office JACK LINGO MILLSBORO 28442 DuPont Boulevard, Rehoboth Beach, DE

    Listing date Nov 18, 2024

    MLS# DESU2074438

    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.

    Overview

    Versatile Commercial Space in Selbyville

    This commercial space in Selbyville, Delaware, is suitable for medical, retail, or office use. The owner offers attractive lease terms for a 3-year period: $1600.00 for the first year, and $1800.00 for the second and third years. The main room measures 49 x 28, while the secondary room is 40 x 11. The unit includes two ADA-compliant bathrooms. Tenants benefit from lit signage space on the road and additional signage at the unit's entrance. CAM fees are calculated as 1/3 of the complex's total costs. Sewer and water charges are individually metered. The property is all-electric and features two heat pumps. In addition to rent, a 2% rental tax applies within the Town of Selbyville.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobility Scooters for Rent Car Rental Facility Images by Nathan Barber Shop Pam's Ocean City ... Travel Agency Beach Wheelchair Rentals Department Store On The Way Café Selbyville Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Building Supply Auto Repair Shop Big Box & Wholesale Store Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Selbyville
    County
    Sussex
    State
    Delaware
    Longitude
    -75.23163
    Latitude
    38.45254

    Nearby Similar for Lease

    • $12/mo

      Spacious Commercial Building with Parking

      Large commercial space available for rent with flexible options.
      13 W CHURCH St, Selbyville, DE 19975
      View Details
    • $10/mo

      Retail/Flex Building on Dupont Highway

      6600 sq ft retail/flex building with highway visibility.
      36674 DUPONT BOULEVARD, SELBYVILLE, DE 19975
      View Details
    • Contact for pricing

      High Visibility Commercial Property Available

      Commercial property with high visibility and significant traffic volume.
      38169 Dupont Blvd, Selbyville, DE
      View Details

    FAQs

    What type of property is this?
    Office units - Adaptable space for medical, retail, or office use in Selbyville.
    Where is this office units located?
    The property is located at 38555 DUPONT BLVD Selbyville, DE.
    What is the lease rate?
    The lease rate is $1,600 /Mo.
    What are key features of this property?
    This property features: Attractive lease terms: $1600/yr (yr 1), $1800/yr (yrs 2 & 3).; Suitable for Medical, Retail, or Office use.; Two ADA compliant bathrooms.
    (302) 934-3970
    We can help!
    Listing Contact
    SUSAN A MILLS
    SUSAN A MILLS
    Real Estate License ID: RB-0020271
    Learn More
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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.

    More about this property
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