Free-Standing Retail & Warehouse
1120 S CENTRAL Avenue Laurel, DE 19956
1120 S CENTRAL Avenue, Laurel, DE, 19956
$1,299,000
For Sale
$1,299,000
Commercial Sale - LAUREL, DE
Property Size7,006 SF
Lot Size4.40 Acres
Price / SF$185.41
Days on Market365
Property Features for 1120 S CENTRAL Avenue
General Information
- Property type
- Other
- Property subtype
- Retail
- Parking
- 40
- Parking features
- Parking Lot
- 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
206 E Main Street, Salisbury, DE
Listed by
Meredith M. Mears · License #RS-0037916
(443) 944-4464
Added: Jul 18, 2025 Checked: Jul 17 at 10:06 am
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.
Investment Insights
Based on property information with market context.
This freestanding commercial building totals 7,006 square feet and is set up with a wide-open floor plan for retail-style operations. There is also a small warehouse and office area in the rear, adding flexibility for storage and back-office needs. The property sits on 4.4 acres and includes multiple points of ingress and egress with plentiful parking. Recent exterior and mechanical updates include a new roof installed less than five years ago and brand new HVAC systems installed about one year ago.
Located at 1120 S Central Avenue in Laurel, Delaware, the site is positioned along Laurel’s main corridor. The combination of a large lot, on-site parking, and additional land supports both continued site use and room for expansion on the property.
Previously operated as a Rite-Aid Pharmacy, this building’s layout and configuration can support a range of owner-occupant or investment objectives, depending on the intended tenant use. The site is zoned C-B, which should be reviewed for compatibility with the specific business plans. With its open retail-ready front area plus rear warehouse and office space, the property may fit operators seeking a straightforward configuration within a single building.
Located at 1120 S Central Avenue in Laurel, Delaware, the site is positioned along Laurel’s main corridor. The combination of a large lot, on-site parking, and additional land supports both continued site use and room for expansion on the property.
Previously operated as a Rite-Aid Pharmacy, this building’s layout and configuration can support a range of owner-occupant or investment objectives, depending on the intended tenant use. The site is zoned C-B, which should be reviewed for compatibility with the specific business plans. With its open retail-ready front area plus rear warehouse and office space, the property may fit operators seeking a straightforward configuration within a single building.
Key Highlights
- High‑visibility location on Laurel's main corridor with multiple access points and ample parking.
- Versatile, open floor plan suitable for retail, office, medical, or service‑oriented businesses due to C‑B zoning.
- Substantial 4.4‑acre lot with additional land for development or expansion.
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 |
7,006 SF · lease $25.68/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.57M
$1.37M – $1.83M
NOI $109,972 @ 7.0% cap · market cap 8.47%
Second Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,839 @ 7.0% cap · market cap 6.53%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Rite Aid
Pharmacy
Coinhub Bitcoin ATM ...
Atm
Kurt Keglovits
Pharmacy
Western Union
Bank
higi
Physician
Similar For Sale Nearby
Similar Off Market Nearby
- Kurt Keglovits — 1120 S Central Ave, Laurel, DE 199561418
- Rite Aid Pharmacy — 1120 S Central Ave, Laurel, DE 19956
FAQs
What type of property is this?
Drug store - Free-standing commercial building with open retail layout, rear office/warehouse, and 4.4 acres in Laurel.
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: High‑visibility location on Laurel's main corridor with multiple access points and ample parking.; Versatile, open floor plan suitable for retail, office, medical, or service‑oriented businesses due to C‑B zoning.; Substantial 4.4‑acre lot with additional land for development or expansion.
