Flex/Industrial Building with Storage
1 OLD MILL LN, Newport, DE 19804
For Sale
$939,000
A two-story office component complements warehouse operations, with fenced outdoor storage and controlled site entry.
Property Size4,000 SF
Lot Size0.56 Acres
Price / SF$234.75
Days on Market17
Property Features for 1 OLD MILL LN
General Information
Standard status
Size
Lot size
Site & Location
Highway Access
Fenced Yard
Outdoor Storage
Warehouse & Industrial
Warehouse Space
Office Build-Out
Drive-In Doors
Additional Details
Property Use
Building Details
Buildings
Building Size
Listing Agency:
BHHS Fox & Roach - Hockessin
(302) 999-9999
Listed By:
Michele A Endrich · License #R3-0011184
(302) 690-4279
Source:
Towncentermd
Added: Oct 24
Changed: Nov 8
Last Checked: Nov 8 at 5:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fox & Roach - Hockessin
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,000± SF flex/industrial property on 0.56 acres combines approximately 2,000± SF of two-story office space with 2,000± SF of warehouse area. The office includes reception, private offices, a conference room, kitchenette, and an executive office with an adjoining sitting area. Warehouse features include a 14-foot drive-in door, gas heat, and a restroom. The site also has a fenced outdoor storage yard, an electronic security gate, and parking.
Capital work completed over the past decade includes a new roof and siding, a concrete parking lot, natural gas service, office renovations, block wall foam insulation, upgraded water service, and perimeter fencing with electronic gate access. The property has access to I-95, Route 141, I-295, and I-495, connecting it with Wilmington, Philadelphia, Baltimore, and other Mid-Atlantic markets.
Capital work completed over the past decade includes a new roof and siding, a concrete parking lot, natural gas service, office renovations, block wall foam insulation, upgraded water service, and perimeter fencing with electronic gate access. The property has access to I-95, Route 141, I-295, and I-495, connecting it with Wilmington, Philadelphia, Baltimore, and other Mid-Atlantic markets.
Key Highlights
- 4,000± SF building on a 0.56‑acre parcel
- Approximately 2,000± SF of office space and 2,000± SF of warehouse space
- Warehouse has a 14‑foot drive‑in door, gas heat, and a restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,969
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,380
$759.4K
Cap Rate 7%
$542,414
$542.4K
Cap Rate 9%
$421,878
$421.9K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$63.8K $15.96/SF
− Vacancy
−$5.4K −$1.36/SF
EGI
$58.4K $14.60/SF
− OpEx
−$20.4K −$5.11/SF
NOI
$38.0K $9.49/SF
Area
New Castle County, DE
Vacancy
8.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,380
Cap Rate 7%
$542,414
Cap Rate 9%
$421,878
Alternative Uses
Best Use
Flex RnD
$542.4K
$474.6K – $632.8K
NOI $37,969 @ 7.0% cap · market cap 4.04%
Second Best
Warehouse
$445.1K
$389.4K – $519.3K
NOI $31,155 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$956.8K
$837.2K – $1.12M
NOI $66,973 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19804, DE
18,292
Population
8,075
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
89%
High-School Grad
7.2 sq mi
ZIP Area
2,541
Density / Sq Mi
$76,204
Median Household Income
$44,897
Median Earnings
$1,157
Median Rent
$244,700
Median Home Value
Market
Properties on Market for Flex space in New Castle County
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - A two-story office component complements warehouse operations, with fenced outdoor storage and controlled site entry.
Where is this flex space located?
The property is located at 1 OLD MILL LN Newport, DE.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: 4,000± SF building on a 0.56‑acre parcel; Approximately 2,000± SF of office space and 2,000± SF of warehouse space; Warehouse has a 14‑foot drive‑in door, gas heat, and a restroom
