Seaford Medical Office Building For
For Sale
$2,500,000
11 Fallon Ave, Seaford, DE 19973
Well-maintained medical office building in Seaford, Sussex County.
Property Size10,600 SF
Price / SF$235.85
Days on Market260
Property Features for 11 Fallon Ave
General Information
Standard status
Active
Size
10,600 SF
Class
B
Property subtype
Office
Building Details
Building Size
10,600 SF
Listing Agency:
(302) 584-1632
Listed By:
Jim O'Hara, Jr.
(302) 584-1632
Source:
Naiglobal
Added: Nov 22, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:10PM
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 Jim O'Hara, Jr.
Investment Insights
Based on property information with market context.
This well-maintained medical office building is located in Seaford, Sussex County. The property offers flexible space tailored for healthcare professionals, providing modern infrastructure, convenient accessibility, and a professional setting designed to support patient care. The building is fully sprinklered and features electric heat, with separate utilities for each unit. The total property size is 10,600 square feet. 11 Fallon Avenue comprises 2,600 square feet with 5 exam rooms and an x-ray room. 13 Fallon Avenue is a 4,000 square foot vanilla box. 15 Fallon Avenue provides 1,400 square feet of physical therapy space. 17 Fallon Avenue offers 2,600 square feet of unfinished space.
Key Highlights
- Flexible space tailored for healthcare professionals
- Well‑maintained medical office building
- Convenient accessibility
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$166,387
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,327,740
$3.3M
Cap Rate 7%
$2,376,957
$2.4M
Cap Rate 9%
$1,848,744
$1.8M
Market Conditions
NOI Build-Up for 10,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$272.2K $25.68/SF
− Vacancy
−$50.4K −$4.75/SF
EGI
$221.8K $20.93/SF
− OpEx
−$55.5K −$5.23/SF
NOI
$166.4K $15.70/SF
Area
Sussex County, DE
Vacancy
18.50%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,327,740
Cap Rate 7%
$2,376,957
Cap Rate 9%
$1,848,744
Alternative Uses
Best Use
Office B
$2.38M
$2.08M – $2.77M
NOI $166,387 @ 7.0% cap · market cap 6.66%
Second Best
Healthcare Medical
$2.14M
$1.87M – $2.49M
NOI $149,587 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$2.91M
$2.55M – $3.40M
NOI $203,902 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 19973, DE
25,550
Population
10,725
Households
2.4
Avg Household Size
42
Median Age
18%
College-Educated
84%
High-School Grad
84.0 sq mi
ZIP Area
304
Density / Sq Mi
$62,668
Median Household Income
$36,439
Median Earnings
$1,131
Median Rent
$254,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Petco Vaccination Clinic — 22966 Sussex Hwy, Seaford, DE 19973
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office building in Seaford, Sussex County.
Where is this medical office space located?
The property is located at 11 Fallon Ave Seaford, DE.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Flexible space tailored for healthcare professionals; Well‑maintained medical office building; Convenient accessibility
