Versatile Industrial Property with
9320 Old Racetrack Rd Delmar, DE 19940
For Sale
$1,100,000
4.66-acre property with 6,000 sq ft warehouse and expansion potential.
Property Size6,000 SF
Lot Size4.66 Acres
Price / SF$183.33
Days on Market140
Property Features for 9320 Old Racetrack Rd
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 4.66 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1989
Listing Agency:
NAI Coastal - Salisbury
(443) 935-2277
Listed By:
George Merritt · License #MD #0681070
(443) 935-2277
Source:
Naiglobal
Added: Mar 6
Changed: Jul 6
Last Checked: Jul 24 at 6:48AM
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 NAI Coastal - Salisbury
Investment Insights
Based on property information with market context.
This 4.66-acre property is zoned Light Industrial (LI-2) and includes a 6,000 sq ft warehouse. The warehouse is equipped with four 14'x14' roll-up doors and individual access doors. The current owners are pursuing permits to construct an additional 6,000 sq ft of warehouse space and a further 6,000 sq ft of office space on the property's street frontage. An asphalt driveway and parking lot are in place. The building benefits from new electric service including 3-phase power, a new metal roof, and LED lighting. Approximately 3.5 acres are fenced in with a new asphalt driveway and parking area. The warehouse has a 22' ceiling height and the option for demising. The property is located one mile north of the Maryland border.
Key Highlights
- 4.66‑acre Light Industrial (LI‑2) zoned property offering versatile business opportunities.
- Existing 6,000 sq ft warehouse featuring four 14'x14' roll‑up doors and individual access doors, plus permits being pursued for an additional 12,000 sq ft of warehouse and office space.
- New upgrades include a metal roof, LED lighting, and 3‑phase electric service.
Financial Insights For Warehouse
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 | $50.4k | $8.40 |
| − Vacancy | −$3.5k | −$0.59 |
| EGI | $46.9k | $7.81 |
| − OpEx | −$7.0k | −$1.17 |
| NOI | $39.8k | $6.64 |
6,000 SF · lease $8.40/SF/yr · vacancy 7.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$569.2K
$498.0K – $664.0K
NOI $39,841 @ 7.0% cap · market cap 3.62%
Second Best
Industrial
$504.9K
$441.8K – $589.1K
NOI $35,343 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,416 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Warehouses
Similar Off Market Nearby
- Partners Self Storage — 500 N Pennsylvania Ave, Delmar, DE 19940
FAQs
What type of property is this?
Warehouse - 4.66-acre property with 6,000 sq ft warehouse and expansion potential.
Where is this warehouse located?
The property is located at 9320 Old Racetrack Rd Delmar, DE.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4.66‑acre Light Industrial (LI‑2) zoned property offering versatile business opportunities.; Existing 6,000 sq ft warehouse featuring four 14'x14' roll‑up doors and individual access doors, plus permits being pursued for an additional 12,000 sq ft of warehouse and office space.; New upgrades include a metal roof, LED lighting, and 3‑phase electric service.
