1120 S Central Avenue, Laurel, DE 19956
Versatile 7,006 SF free-standing building with warehouse and office space on a main corridor.
- Added:
- Jul 6, 2025
- Days on Market:
- 350
- Last Refresh:
- Jun 14 at 1:56 am
Property Features for 1120 S Central Avenue
General Information
- Standard status
- Active
- Size
- 7,006 SF
- Lot size
- 4.40 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1978
Listing agent Meredith Mears License #672907 (443) 944-4464
Listing office SVN (443) 944-4464
Listing date Jul 6, 2025
Source Xome
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 SVN
HighLights
- 7,006 SF free‑standing commercial building with a small warehouse and office space at the rear
- Sits on 4.4 acres along Laurel, DE’s main corridor with multiple points of ingress and egress
- C‑B zoning offering flexibility for retail, office, medical, or service‑oriented uses
- New roof less than 5 years old
- Brand new HVAC systems installed about 1 year ago; central air and 3 heating units
- Plentiful parking and additional land on site for development or expansion
Overview
The building sits on 4.4 acres along Laurel, DE’s main corridor, offering multiple points of ingress and egress and plentiful parking for employees and customers. The site includes additional land that may support development or expansion, subject to applicable requirements.
Zoned C-B, the property is positioned for flexible occupancy, including retail, office, medical, or service-oriented businesses, according to the provided zoning description. For investors or owner-occupants, the combination of a storefront-style open area, back-of-house workspace, and practical site configuration can support both day-to-day operations and future repurposing. The property’s former use as a Rite-Aid pharmacy is noted in the remarks, with the existing layout supporting continued versatility.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $179.9k | $25.68 |
| − Vacancy | −$33.3k | −$4.75 |
| EGI | $146.6k | $20.93 |
| − OpEx | −$36.7k | −$5.23 |
| NOI | $110.0k | $15.70 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Laurel
- County
- Sussex
- State
- Delaware
- Longitude
- -75.569904
- Latitude
- 38.545717
