Commercial Property on Major
8991 REDDEN ROAD Bridgeville, DE 19933
For Sale
$1,250,000
C-1 zoned commercial property on 2 acres for sale.
Property Size4,200 SF
Lot Size2.00 Acres
Price / SF$297.62
Days on Market668
Property Features for 8991 REDDEN ROAD
General Information
Standard status
Active
Size
4,200 SF
Lot size
2.00 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1999
Listing Agency:
Keller Williams Realty
(302) 632-7407
Listed By:
Thomas Lucks · License #RA-0020851
(302) 632-7407
Source:
Exitrealty
Added: Oct 1, 2024
Changed: Jul 6
Last Checked: Jul 26 at 8:23AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This commercial property offers an excellent opportunity with direct frontage on a major highway. The 4,200 square foot building is situated on 2 acres and is zoned C-1. Located on a major north-south corridor, the property benefits from an annual average daily traffic count of over 23,500 vehicles. The Sussex Highway frontage measures 200 feet, while the Redden Road frontage extends 410 feet. The building's layout features mirrored sides, making it suitable for multiple office businesses. The current medical and office equipment and furnishings may be included as a goodwill conveyance or removed based on the purchaser's preference. The property includes five ADA-compliant restrooms, four entries (two ADA compliant, one with press plate power assist), and dual electric meters. There is ample patron parking with 20 spaces, including designated accessible parking. A two-door oversized block garage is located at the rear of the main building, along with a chain-link fenced area suitable for RV parking or a stand-alone garage. The property is not located within city limits and therefore has no municipal taxes. The annual county taxes are $3,200. The location is highly suitable for a professional office, continued medical practice, school, or other uses. The current owner has operated from this location for over 30 years. A four-way signaled intersection enhances highway visibility and provides easy ingress and egress. The complex is considered an A or B+ facility, requiring minimal improvements. A stormwater pond is already installed. The purchaser has the option to cordon off one half of the building and lease out any unused portion for additional income. The parcel includes a large 4,400-gallon sand-lined Cap & Fill septic system with risers, and a well.
Key Highlights
- Direct major highway frontage on a major N/S corridor with high traffic volume (AADT 23,500+).
- C‑1 zoned 4200 s/f commercial property on 2 acres suitable for multiple office businesses.
- Excellent visibility and easy access due to 4‑way signaled intersection.
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 | $107.9k | $25.68 |
| − Vacancy | −$20.0k | −$4.75 |
| EGI | $87.9k | $20.93 |
| − OpEx | −$22.0k | −$5.23 |
| NOI | $65.9k | $15.70 |
4,200 SF · lease $25.68/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$941.8K
$824.1K – $1.10M
NOI $65,927 @ 7.0% cap · market cap 5.27%
Second Best
Healthcare Medical
$846.7K
$740.9K – $987.8K
NOI $59,270 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,791 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Western Sussex Animal Hospital Inc — 16487 Sussex Hwy, Bridgeville, DE 19933
Frequently Asked Questions
What type of property is this?
Medical Office Space - C-1 zoned commercial property on 2 acres for sale.
Where is this medical office space located?
The property is located at 8991 REDDEN ROAD Bridgeville, DE.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Direct major highway frontage on a major N/S corridor with high traffic volume (AADT 23,500+).; C‑1 zoned 4200 s/f commercial property on 2 acres suitable for multiple office businesses.; Excellent visibility and easy access due to 4‑way signaled intersection.