Zoned UB3 Office
123 W MARKET St Georgetown, DE 19947
New
123 W MARKET St, Georgetown, DE, 19947
$599,999
For Sale
$599,999
Office building on a large lot with on-site parking, zoned UB3 for professional use in Georgetown, Delaware.
Property Size3,000 SF
Lot Size1.50 Acres
Price / SF$199
Days on Market2
Property Features for 123 W MARKET St
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 1.50 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1960
Listing Agency
Alliance Real Estate Pros
(302) 362-3585
Listed by
Julian Washington · License #0037352
(302) 362-3585
Source
Elliman
Added: Jul 16 Checked: Jul 17 at 3:15 am
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 Alliance Real Estate Pros
Investment Insights
Based on property information with market context.
This for-sale office property includes a 3,000-square-foot office building on an approximately 1.5-acre lot. The site features an on-site parking area, and the expansive grounds offer space for future development of the building and parking facilities. The property is zoned UB3.
Located at 123 W Market St in Georgetown, Delaware, the building is positioned just minutes from Georgetown’s town center, Town Hall, and the new Family Court, supporting convenient access for clients and staff.
Designed for professional operations under UB3, this property provides a turn-key office setting with parking on site and room to grow on the existing lot.
Located at 123 W Market St in Georgetown, Delaware, the building is positioned just minutes from Georgetown’s town center, Town Hall, and the new Family Court, supporting convenient access for clients and staff.
Designed for professional operations under UB3, this property provides a turn-key office setting with parking on site and room to grow on the existing lot.
Key Highlights
- 3,000‑SF office building built in 1960
- Approximately 1.5‑acre lot with on‑site parking
- Zoned UB3 for professional office use
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 | $77.0k | $25.68 |
| − Vacancy | −$14.3k | −$4.75 |
| EGI | $62.8k | $20.93 |
| − OpEx | −$15.7k | −$5.23 |
| NOI | $47.1k | $15.70 |
3,000 SF · lease $25.68/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$672.7K
$588.6K – $784.9K
NOI $47,091 @ 7.0% cap · market cap 7.85%
Second Best
Healthcare Medical
$604.8K
$529.2K – $705.6K
NOI $42,336 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$824.4K
$721.4K – $961.8K
NOI $57,708 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Office building on a large lot with on-site parking, zoned UB3 for professional use in Georgetown, Delaware.
Where is this office building located?
The property is located at 123 W MARKET St Georgetown, DE.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 3,000‑SF office building built in 1960; Approximately 1.5‑acre lot with on‑site parking; Zoned UB3 for professional office use
