Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    402 S Bay Shore Dr Milton, DE 19968

    Sponsored
    For Sale
    $399,900

    LAND - MILTON, DE

    Lot size:
    0.13 Acres
    Days on Market:
    17
    Last Refresh:
    Jan 24 at 3:06 pm

    Property Features for 402 S Bay Shore Dr

    General Information

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

    We can help!

    Listing Contact
    Debbie Reed

    RE/MAX Realty Group Rehoboth (302) 227-4800

    Listing agent Debbie Reed (302) 227-3818 License #RS-0010229

    Listing date Jan 8, 2026

    MLS# DESU2099264 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.

    Learn more

    Property Insight Report

    Overview

    Coastal Land Near Delaware Bay

    Located in Broadkill Beach, this 50' x 121' lot is situated east of Route 1, offering water access to the Delaware Bay and proximity to the beach. The property includes an existing structure, a historic 2-bedroom bungalow constructed around 1890. The value of this property is primarily in the land and its location. The site is suitable for constructing a custom coastal home, and could be used as a primary residence, vacation property, or investment. This property offers the opportunity to preserve the existing bungalow or build a new home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Hotel & Motel Bar & Pub Food Market Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Milton
    County
    Sussex
    State
    Delaware
    Longitude
    -75.20988
    Latitude
    38.82637

    Nearby Similar for Sale

    • $743,000

      Equestrian Property with Coastal Access

      Spacious home with equestrian facilities near Lewes Rehoboth Beaches.
      20346 Cool Spring Rd, Milton, DE 19968
      View Details
    • $485,000

      Riverwalk Drive Land Opportunity

      Land available on Riverwalk Drive, Milton, Delaware.
      18893 Riverwalk Dr, Milton, DE 19968
      View Details
    • $614,900

      OTTO Dr, Milton, DE Property

      Property for sale in Milton, DE.
      29394 Otto Dr, Milton, DE 19968
      View Details
    • $960,000

      WHITE PINE Lane Property

      Property on WHITE PINE Ln, Milton, DE for sale.
      29247 White Pine Ln, Milton, DE 19968
      View Details
    • $499,900

      Lightship Cove Drive Property

      Property on Lightship Cove Drive, Milton, Delaware for sale.
      19866 Lightship Cv Dr, Milton, DE 19968
      View Details
    • $715,000

      Robinson Drive Specialty Property

      Specialty property for sale on Robinson Drive in Milton.
      15256 Robinson Dr, Milton, DE 19968
      View Details
    • $580,000

      Milton, DE Specialty Property

      Specialty property for sale in Milton, Delaware.
      18161 S White Cedar Ct, Milton, DE 19968
      View Details
    • $800,000

      Milton Specialty Property For Sale

      Specialty property available for purchase in Milton, Delaware.
      106 Florida Ave, Milton, DE 19968
      View Details
    • $369,900

      Milton, DE Specialty Property

      Specialty property for sale in Milton, Delaware.
      27407 Walking Run, Milton, DE 19968
      View Details
    • $524,900

      Lightship Cove Drive Property

      Property on Lightship Cove Drive, Milton, DE for sale.
      19862 Lightship Cv Dr, Milton, DE 19968
      View Details
    • $595,000

      Union Street Specialty Property

      Specialty property available for sale in Milton, Delaware.
      14161 Union Street Ext, Milton, DE 19968
      View Details
    • $1,049,000

      HUDSON Rd, Milton, DE Property

      Specialty property for sale in Milton, DE.
      16132 Hudson Rd, Milton, DE 19968
      View Details

    FAQs

    What type of property is this?
    Land - Land with development potential near Broadkill Beach and Delaware Bay.
    Where is this land located?
    The property is located at 402 S Bay Shore Dr Milton, DE.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: - Prime location steps from the Delaware Bay with water access.; - Opportunity to build a custom coastal home.; - Located in the quiet community of Broadkill Beach, east of Route 1.
    (302) 227-3818
    Request Owner's contact information
    402 S Bay Shore Dr Milton, DE 19968
    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.
    402 S Bay Shore Dr
    Milton, DE 19968
    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
    402 S Bay Shore Dr Milton, DE 19968
    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

    We can help!
    Listing Contact
    Debbie Reed
    Real Estate License ID: RS-0010229
    (302) 227-3818
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.