Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    119 Patriot Dr, Unit Middletown DE Middletown, DE 19709

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $13 SF/Yr ($12,026 /Mo)

    Flex space with HVAC office, restroom, and mop sink.

    Property size:
    10,690 SF
    Lot size:
    10,690 SF

    Property Features for 119 Patriot Dr

    General Information

    Size
    10,690 SF

    We can help!

    Listing Contact
    Jeff Shahan, Sior
    Source: Sbrealtyco

    Listing Agent: Jeff Shahan, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Flex Space Available For Lease

    This flex space for lease includes a small, HVAC-conditioned office, an ADA restroom, and a mop sink. The property is located on Patriot Drive, just off Levels Road and Route 301. Additional buildout and turnkey delivery are available, subject to negotiation and creditworthiness. The property size is 10690 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    US Piping, Inc. Pipe Supplier 302 BJJ Middletown Martial Arts School Ignite Fitness Kickboxing ... Gym Spark Summer Camp Summer Camp

    Suggested Use

    Realty agency Spa & Massage Wholesale Shop Restaurant Dental Office Building Supply Clothing Store Pharmacy Nail Salon Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7512684
    Latitude
    39.4359043

    Nearby Similar for Lease

    • $3,200 /Mo

      Spacious Townhome in Central Middletown

      Four-bedroom, 3.5-bath townhome in a prime Middletown location.
      316 E Green St, Middletown, DE 19709
      View Details
    • Contact for pricing
      248,655 SF

      Grocery-Anchored Retail Space Available

      Retail and office spaces for lease in growing residential community.
      Boyds Cor & Jamison Cor Rd, Middletown, DE 19709
      View Details
    • Contact for pricing
      5,700 SF

      Retail and Office Space Available

      Restaurant, retail, and office spaces in growing residential community.
      Boyds Cor Rd & Jamison Cor Rd, Middletown, DE
      View Details
    • $2,699 /Mo

      Pet-Friendly Townhome in Whitehall

      Unfurnished 3-bedroom, 2.5-bath townhome with 2-car garage.
      971 Lorewood Grove Rd, Middletown, DE 19709
      View Details
    • Contact for pricing
      1,955 SF

      Retail Space in Middletown Corridor

      Prime retail spaces available in high-traffic Middletown location.
      851 Middletown Warwick Rd, Middletown, DE 19709
      View Details
    • $25 SF/Yr
      3,300 SF

      Retail Space Near Food Lion

      Inline retail space available in busy commercial district.
      488 Middletown Warwick Rd, Middletown, DE 19709
      View Details
    • $13 SF/Yr
      17,300 SF

      Middletown Industrial Flex Space

      Delaware Flex Warehouse: 4,150 SF Available
      126 Patriot Dr, Middletown, DE 19709
      View Details
    • Contact for pricing
      262,205 SF

      700 N. Broad St. Industrial Space

      Midtown Delaware Warehouse/Flex Space Available
      700 Broad St, Middletown, DE 19709
      View Details
    • Contact for pricing
      87,730 SF

      Middletown Industrial Space Available

      Industrial suites available for lease in Middletown, Delaware.
      700 North Broad St, Middletown, DE 19709
      View Details
    • Contact for pricing
      230,000 SF

      Northside Shopping Center: Middletown, DE

      Retail Space Available: Prime Middletown Location
      465 Middletown Warwick Rd, Middletown, DE 19709
      View Details
    • $12 SF/Yr
      13,440 SF

      Diamond State Blvd Warehouse Space

      Middletown, DE industrial warehouse for lease.
      410 Diamond State Blvd, Middletown, DE 19709
      View Details
    • Contact for pricing
      67,790 SF

      Class A Office Building Opportunity

      Proposed Class A office building in Middletown, Delaware for lease.
      691 Broad St, Middletown, DE 19709
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex space with HVAC office, restroom, and mop sink.
    Where is this flex space located?
    The property is located at 119 Patriot Dr, Unit Middletown DE Middletown, DE.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: - Located on Patriot Dr. just off Levels Rd. and Rt. 301; - HVAC-conditioned office space; - ADA restroom
    (302) 545-2392
    Request Owner's contact information
    119 Patriot Dr, Unit Middletown DE Middletown, DE 19709
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    119 Patriot Dr, Unit Middletown DE
    Middletown, DE 19709
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    119 Patriot Dr, Unit Middletown DE Middletown, DE 19709
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeff Shahan, Sior
    (302) 545-2392
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.