Retail Buildings For
For Sale
$575,000
1188 Forrest Ave, Dover, DE 19904
Two retail buildings, currently occupied by salons, for sale.
Property Size2,784 SF
Price / SF$206.54
Days on Market321
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 1188 Forrest Ave
General Information
Standard status
Active
Size
2,784 SF
Building Details
Year Built
1970
Listing Agency:
R&R Commerical Realty
Listed By:
Carl Kaplan · License #RS-0013354
(302) 674-3400
Source:
Soldbypattie
Added: Nov 28, 2025
Changed: Oct 5
Last Checked: Oct 15 at 3:51AM
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 R&R Commerical Realty
Investment Insights
Based on property information with market context.
The sale includes two buildings currently occupied on a month-to-month basis by salons. One building has approximately 960 square feet and is constructed over a partial basement. The first floor consists of a reception area, salon, massage room, office, and a powder room. The second building has approximately 1,824 square feet and is constructed over a concrete slab. It is currently utilized as a salon. Both buildings are in good condition and feature gas forced hot air and central air conditioning.
Key Highlights
- Two buildings included in sale
- Currently occupied by tenants (salons) on a month‑to‑month basis
- Larger building (1,824 +/- sq ft) is set up as a salon
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,309
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,180
$506.2K
Cap Rate 7%
$361,557
$361.6K
Cap Rate 9%
$281,211
$281.2K
Market Conditions
NOI Build-Up for 2,784 SF
Gross rent
$39.1K $14.04/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$36.2K $12.99/SF
− OpEx
−$10.8K −$3.90/SF
NOI
$25.3K $9.09/SF
Area
Kent County, DE
Vacancy
7.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,180
Cap Rate 7%
$361,557
Cap Rate 9%
$281,211
Alternative Uses
Best Use
Retail
$361.6K
$316.4K – $421.8K
NOI $25,309 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$701.0K
$613.4K – $817.9K
NOI $49,072 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
788
Businesses Nearby
172k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 31%
Shops & Services 19%
Home Improvements & Furnishings 5%
Redner's Warehouse Market
Groceries
27,249 visits/mo
0.3 miles
McDonald's
Dining
26,753 visits/mo
0.5 miles
Food Lion Grocery Store
Groceries
25,508 visits/mo
0.3 miles
Dunkin' Donuts
Dining
16,683 visits/mo
0.1 miles
Dollar Tree
Shops & Services
16,670 visits/mo
0.3 miles
Demographics for 19904, DE
36,880
Population
16,047
Households
2.3
Avg Household Size
38
Median Age
27%
College-Educated
91%
High-School Grad
43.2 sq mi
ZIP Area
854
Density / Sq Mi
$66,885
Median Household Income
$39,459
Median Earnings
$1,240
Median Rent
$281,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Two retail buildings, currently occupied by salons, for sale.
Where is this retail space located?
The property is located at 1188 Forrest Ave Dover, DE.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two buildings included in sale; Currently occupied by tenants (salons) on a month‑to‑month basis; Larger building (1,824 +/- sq ft) is set up as a salon
