Add Listing
    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

    144 Kings Hwy, Unit FIRST Dover, DE 19901

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,500 /Mo

    Elegant office space in premier Dover location, near landmarks.

    Property Features for 144 Kings Hwy

    General Information

    Property type
    Commercial
    Standard status
    Active

    Building Details

    Year built
    1875

    We can help!

    Listing Contact
    Carol Plummer
    Source: Elliman

    Listing Agency: Keller Williams Realty - Willmington Listing Agent: Carol Plummer

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

    Learn more

    Property Insight Report

    Overview

    Historic Office Space Near Governor's Mansion

    This historic and elegant building, situated across from the Delaware Governor's Mansion, offers a paneled 1750-square-foot main floor suitable for exclusive medical, legal, or professional office suites. A "turret" overlooks the Governor's Mansion. Additionally, office 302 on the third floor, totaling 2000 square feet, is currently available. Located in the premier property location in Dover, the building is surrounded by multiple legal and professional offices and is a short distance to "The Green", Delaware Courts, State Offices, Legislative Hall, and Bayhealth Hospital. Restaurants, custom bakeries, and coffee houses are also nearby. Additional office space might be available later in 2025. Offices can be easily subdivided between the right and left of the elevator hall.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Amy E. Didden, ... Crisis Center Janea Adams-Gee, EXP Real Estate Agency Jennifer Allan, Delaware ... Real Estate Agency The Home Gallery Team Real Estate Agency riv gail, EXP ... Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Dover
    County
    Kent
    State
    Delaware
    Longitude
    -75.5239677
    Latitude
    39.1612878

    Nearby Similar for Lease

    • $4,000 /Mo
      15,246 SF

      Turnkey Restaurant in Pizzadili Plaza

      Fully equipped restaurant space ready for immediate operation.
      2089 S Dupont Hwy, Dover, DE 19901
      View Details
    • $1,250 /Mo

      High-Visibility Dover Commercial Space

      Former bank branch with drive-through, ideal for various businesses.
      1001 Walker Rd, Dover, DE 19904
      View Details
    • $1,400 /Mo

      Retail Space in Dover Center

      Move-in ready retail space with recent renovations and high visibility.
      1043 Walker Rd, Dover, DE 19904
      View Details
    • $1,850 /Mo

      Dover Office Space For Lease

      1,006 SF ground floor office space available for lease.
      1675 S State St, Dover, DE 19901
      View Details
    • $2,300 /Mo
      22,651 SF

      Dover Office Space For Lease

      Prime office space near downtown Dover with recent renovations.
      20 E Division St, Dover, DE 19901
      View Details
    • $1,300 /Mo

      Dover Office Space For Lease

      Commercial space with private offices and convenient parking in Dover.
      383 W North St, Dover, DE 19904
      View Details
    • $680 /Mo

      Dover Office Space For Lease

      Office space in Dover, utilities included, conference room available.
      2089 Dupont St, Dover, DE 19901
      View Details
    • $2,200 /Mo
      18,295 SF

      Dover Office Building For Lease

      Two-story office building in Dover, DE, available for lease.
      1147 S Governors Ave, Dover, DE 19901
      View Details
    • $2,800 /Mo
      9,583 SF

      Office Space For Rent

      Office space available for lease in Dover, DE.
      642 S Queen St, Dover, DE 19904
      View Details
    • $2,644 /Mo
      3,485 SF

      Downtown Dover Renovated Commercial Space

      Newly renovated commercial unit in the heart of Downtown Dover.
      226 W Loockerman St, Dover, DE 19901
      View Details
    • $975 /Mo

      Dover Office Space For Lease

      Office space available near Rodney Village, close to major routes.
      2089 S Dupont Hwy, Dover, DE 19901
      View Details
    • $750 /Mo
      100,188 SF

      Office Space with Highway Exposure

      Office space for lease with major highway exposure and ample parking.
      1325 S State St, Dover, DE 19901
      View Details

    FAQs

    What type of property is this?
    Office units - Elegant office space in premier Dover location, near landmarks.
    Where is this office units located?
    The property is located at 144 Kings Hwy, Unit FIRST Dover, DE.
    What is the lease rate?
    The lease rate is $3,500 /Mo.
    What are key features of this property?
    This property features: - Premier location in Dover, across from the Delaware Governor's Mansion.; - Historic and elegant building, built in 1875.; - Suitable for exclusive medical, legal, or professional office suites.
    (302) 632-3311
    Request Owner's contact information
    144 Kings Hwy, Unit FIRST Dover, DE 19901
    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.
    144 Kings Hwy, Unit FIRST
    Dover, DE 19901
    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
    144 Kings Hwy, Unit FIRST Dover, DE 19901
    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
    Carol Plummer
    (302) 632-3311 (302) 659-1320 (305) 431-7967
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!