Freestanding Drug Store
For Sale
$1,299,000
1120 S CENTRAL Avenue, Laurel, DE 19956
Commercial Sale, LAUREL, DE
Property Size7,006 SF
Lot Size4.40 Acres
Price / SF$185.41
Days on Market456
Property Features for 1120 S CENTRAL Avenue
General Information
Property type
Other
Property subtype
Retail
Parking
40
Parking features
Parking Lot
Elementary school district
LAUREL
Middle school district
LAUREL
High school district
LAUREL
Standard status
Active
Lot size
4.40 Acres
Taxes and HOA fees
Tax Annual Amount
1744
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1978
Building materials
Concrete
Listing Agency:
SVN/Miller Commercial Real Estate
(410) 543-2440
Listed By:
Meredith M. Mears · License ##RS-0037916
(443) 944-4464
Added: Jul 18, 2025
Changed: Sep 5
Last Checked: Oct 16 at 10:06AM
MLS# DESU2090982
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This freestanding 7,006 SF commercial building occupies 4.4 acres and features an expansive open floor plan, along with warehouse and office areas at the rear. The property was previously operated as a Rite-Aid pharmacy and includes concrete construction, central heating, central air, and a parking lot. Built in 1978, it has a roof that is less than 5 years old and HVAC systems installed about 1 year ago.
Positioned along the main corridor in Laurel, the property provides multiple ingress and egress points, on-site parking, and additional land for future development or expansion. C-B zoning supports retail, office, medical, and service-oriented uses. The address is 1120 S CENTRAL Avenue, Laurel, DE 19956.
Positioned along the main corridor in Laurel, the property provides multiple ingress and egress points, on-site parking, and additional land for future development or expansion. C-B zoning supports retail, office, medical, and service-oriented uses. The address is 1120 S CENTRAL Avenue, Laurel, DE 19956.
Key Highlights
- 7,006 SF freestanding commercial building on 4.4 acres
- C‑B zoning supports retail, office, medical, and service‑oriented uses
- Open floor plan with rear warehouse and office areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,839
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,696,780
$1.7M
Cap Rate 7%
$1,211,986
$1.2M
Cap Rate 9%
$942,656
$942.7K
Market Conditions
NOI Build-Up for 7,006 SF
Gross rent
$126.1K $18.00/SF
− Vacancy
−$13.0K −$1.85/SF
EGI
$113.1K $16.15/SF
− OpEx
−$28.3K −$4.04/SF
NOI
$84.8K $12.11/SF
Area
Sussex County, DE
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,696,780
Cap Rate 7%
$1,211,986
Cap Rate 9%
$942,656
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,839 @ 7.0% cap · market cap 6.53%
Second Best
Retail
$897.2K
$785.1K – $1.05M
NOI $62,805 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$1.93M
$1.68M – $2.25M
NOI $134,767 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
6k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
6,453 visits/mo
0.1 miles
Demographics for 19956, DE
16,327
Population
6,556
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
84%
High-School Grad
100.4 sq mi
ZIP Area
163
Density / Sq Mi
$59,085
Median Household Income
$36,131
Median Earnings
$923
Median Rent
$233,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Kurt Keglovits — 1120 S Central Ave, Laurel, DE 199561418
- Rite Aid Pharmacy — 1120 S Central Ave, Laurel, DE 19956
Frequently Asked Questions
What type of property is this?
Drug store - Open-plan commercial building with rear support areas and C-B zoning for retail, office, medical, or service uses.
Where is this drug store located?
The property is located at 1120 S CENTRAL Avenue Laurel, DE.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 7,006 SF freestanding commercial building on 4.4 acres; C‑B zoning supports retail, office, medical, and service‑oriented uses; Open floor plan with rear warehouse and office areas
