123 W MARKET Street Georgetown, DE 19947
Commercial Sale - GEORGETOWN, DE
Property Features for 123 W MARKET Street
General Information
- Property type
- Other
- Property subtype
- Office
- Rooms
- Basement
- Parking
- 15
- Parking features
- Parking Lot
- Standard status
- Active
- Lot size
- 1.50 Acres
Taxes and HOA fees
- Tax Annual Amount
- 920
Utilities
- Heating system
- Pellet Stove, Heat Pump (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1960
- Number of units
- 1
- Building materials
- Vinyl Siding
Listing agent Julian Washington License #0037352 (302) 362-3585
Listing office ARE PROS. 26673 Sussex Highway, Seaford, DE (302) 536-1838
Listing date Jul 14, 2026
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.
Located in Georgetown, Delaware, the property is described as just minutes from the town center, Town Hall, and the new Family Court, supporting convenient access for clients and staff.
With parking on site and a lot sized for continued development, this offering combines UB3 zoning with space for potential expansion of both the building and parking facilities.
Key Highlights
- 3,000‑SF commercial office building on approximately 1.5 acres in Georgetown, Delaware
- Zoned UB3 for professional office uses (attorneys, medical practices, accountants, insurance agencies, engineering firms)
- Central air plus heating from a pellet stove and heat pump
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 |
