Two-Story Office
For Sale
Contact for pricing
101 W Park Pl, Middletown, DE 19709
Purpose-built professional layout with private offices, shared waiting areas, and a multipurpose room.
Property Size3,703 SF
Lot Size1.15 Acres
Price / SF$240.14
Days on Market178
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Property Features for 101 W Park Pl
General Information
Standard status
Active
Size
3,703 SF
Class
A
Lot size
1.15 Acres
Property subtype
Land, Mixed Use, Office, Special Purpose
Zoning
office
Lease Type
Gross
Amenities
10 private offices
large multi-purpose room
two welcoming waiting areas
full breakroom with seating
one full bathroom, two half baths
full unfinished basement
two HVAC systems and dual zoning
Building Details
Year Built
2017
Buildings
1
Stories
2
Tenancy
Multi
Building Size
3,703 SF
Listing Agency:
Musi Commercial Properties
Listed By:
John Roach · License #DE RS-0015849
Source:
Crexi
Added: Apr 21
Changed: Oct 3
Last Checked: Oct 14 at 8:56PM
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 Musi Commercial Properties
Investment Insights
Based on property information with market context.
Built in 2017, this two-story office building is configured for professional use across a 1.15-acre site in Middletown, Delaware. The interior includes 10 private offices, a large multipurpose room, two waiting areas, a furnished breakroom, one full bathroom, and two half baths.
The property is arranged as a multi-tenant professional office and currently accommodates nine psychologists. Building systems include two HVAC units with dual zoning. Off-street parking serves the building, while a full unfinished basement provides storage space or an area for future build-out. Office zoning supports the property’s existing configuration.
The property is arranged as a multi-tenant professional office and currently accommodates nine psychologists. Building systems include two HVAC units with dual zoning. Off-street parking serves the building, while a full unfinished basement provides storage space or an area for future build-out. Office zoning supports the property’s existing configuration.
Key Highlights
- Two‑story office building constructed in 2017
- 10 private offices plus a large multipurpose room
- Situated on a 1.15‑acre site in Middletown, Delaware
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,396
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,007,920
$1.0M
Cap Rate 7%
$719,943
$719.9K
Cap Rate 9%
$559,956
$560.0K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$83.5K $22.56/SF
− Vacancy
−$16.3K −$4.40/SF
EGI
$67.2K $18.16/SF
− OpEx
−$16.8K −$4.54/SF
NOI
$50.4K $13.62/SF
Area
New Castle County, DE
Vacancy
19.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,007,920
Cap Rate 7%
$719,943
Cap Rate 9%
$559,956
Alternative Uses
Best Use
Office B
$719.9K
$630.0K – $839.9K
NOI $50,396 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$885.0K
$774.4K – $1.03M
NOI $61,950 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Explore this area
Business Placement
Demographics for 19709, DE
49,599
Population
17,819
Households
2.8
Avg Household Size
39
Median Age
49%
College-Educated
96%
High-School Grad
77.6 sq mi
ZIP Area
639
Density / Sq Mi
$129,971
Median Household Income
$69,505
Median Earnings
$1,571
Median Rent
$444,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Purpose-built professional layout with private offices, shared waiting areas, and a multipurpose room.
Where is this office building located?
The property is located at 101 W Park Pl Middletown, DE.
What is the asking price?
The asking price for this property is $888,500.
What are key features of this property?
This property features: Two‑story office building constructed in 2017; 10 private offices plus a large multipurpose room; Situated on a 1.15‑acre site in Middletown, Delaware
