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    198 Mullet Run St Milford, DE 19963

    Sponsored
    For Sale
    $1,500,000

    High-yield, low-maintenance commercial property.

    Property size:
    9,600 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents a 2-acre commercial property in Milford, Delaware, boasting Business Park (BP) zoning. The site features a secure, fenced perimeter with gated vehicle access, minimizing maintenance requirements and maximizing security. The property comprises two single-story metal buildings. The larger building, spanning 7,200 square feet (60x120), is fully leased under a gross lease to a long-term tenant, ensuring a consistent stream of rental income. The smaller building, measuring 2,400 square feet (40x60), is currently owner-occupied and offers significant potential. It's framed and ready for customization, offering flexibility for future leasing or expansion by the existing tenant, who has expressed interest in occupying this space. Pre-approved site plans are in place to establish independent utilities for this second building, enhancing its marketability and appeal to potential tenants. This property offers a compelling blend of immediate return on investment from the existing lease and significant future growth potential through the development or lease of the second building. Priced at $1,500,000, this is a rare opportunity to acquire a low-maintenance, high-yield commercial property in a desirable location.

    Property Features for 198 Mullet Run St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    9,600 SF

    Building Details

    Year Built
    2001
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    Kent
    State
    Delaware
    Longitude
    -75.4499
    Latitude
    38.92984

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    FAQs

    What type of property is this?
    Commercial real estate - High-yield, low-maintenance commercial property.
    Where is this commercial real estate located?
    The property is located at 198 Mullet Run St Milford, DE.
    What is the asking price?
    The asking price for this property is $1,500,000.
    (302) 677-0020
    Request Owner's contact information
    198 Mullet Run St Milford, DE 19963
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    Milford, DE 19963
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    Realmo Value Estimation

    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.

    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.

    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
    198 Mullet Run St Milford, DE 19963
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