Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Property Investment Opportunity Title is generated by Realmo AI

    280 N REHOBOTH BOULEVARD, Milford, DE 19963

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $350,000

    Well-located, fully occupied commercial property with expansion potential.

    Type:Commercial/Industrial
    Lot size:
    0.62 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    58
    Last Refresh:
    Feb 4 at 12:33 pm

    Property Features for 280 N REHOBOTH BOULEVARD

    General Information

    Standard status
    Active
    Lot size
    0.62 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    JAMIE MASTEN

    Listing agent JAMIE MASTEN

    Listing office MASTEN REALTY LLC

    Listing date Mar 24, 2026

    Source Exitrealty

    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 MASTEN REALTY LLC

    HighLights

    • Priced below replacement cost
    • Fully occupied with long‑term history of occupancy
    • Immediate income generation (Day 1)
    • Potential to convert to 3 units
    • Plenty of parking with room for expansion
    • One unit has a new HVAC system (installed in 2025)

    Overview

    This commercial property presents an investment opportunity. The property is priced below replacement cost. It features two units, with the potential to create a third. Ample parking is available, with room for expansion. The property has a history of long-term occupancy and is currently fully occupied. A new HVAC system was installed in the salon unit in 2025. The property is commercially zoned.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • Cookie's Paper Petals — 10 SW NW Front St, Milford, DE 19963

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    Sussex
    State
    Delaware
    Longitude
    -75.4246805
    Latitude
    38.9229388

    Nearby Similar for Sale

    • $789,000

      Milford Landmark Professional Brick Building

      Three-story professional building with high visibility and flexible floor plans.
      125 CAUSEY Ave, Milford, DE 19963
      View Details
    • $350,000

      Downtown Milford Retail Space Available

      Prime retail space in vibrant downtown Milford with high visibility.
      22 S WALNUT ST, MILFORD, DE 19963
      View Details
    • $499,000

      Downtown Milford Commercial Property Opportunity

      Two-story building in Milford's central business district near Mispillion River.
      112 PARK AVENUE, MILFORD, DE 19963
      View Details
    • $2,349,000

      Milford Commercial Property with Storage

      Commercial property ideal for contractors, trades, automotive, or light industrial.
      2080 & 2098 BAY Rd, Milford, DE 19963
      View Details
    • $1,990,000
      10,712 SF

      Downtown Milford Investment Property

      Fully-tenanted professional office space in Milford, Delaware.
      105-111 NE Front Street | Milford, DE 19963
      View Details
    • $1,990,000
      13,224 SF

      Milford Office Investment Opportunity

      Fully tenanted professional office space in Milford's Central Business District.
      107 NE Front St, Milford, DE
      View Details
    • $2,349,000
      5,840 SF

      Milford Commercial Property with Shops

      Commercial property with multiple buildings, ideal for various business uses.
      2098 Bay Rd, Milford, DE 19963
      View Details
    • $1,990,000
      13,224 SF

      Milford Investment Property For Sale

      Well-maintained, recently renovated investment property in Milford's Central Business District.
      105-111 NE Front Street, Milford, DE 19963
      View Details
    • $388,000

      Commercial Property on Dupont Boulevard

      Commercial property for sale on Dupont Boulevard in Milford, DE.
      1017 S Dupont Blvd, Milford, DE 19963
      View Details
    • $350,000

      Downtown Milford Retail Space Available

      Prime retail space in vibrant downtown Milford, endless possibilities!
      22 S WALNUT STREET, MILFORD, DE 19963
      View Details
    • $299,000
      1,120 SF

      Fully Occupied Duplex For Sale

      Income-generating duplex near downtown Milford, with strong rental demand.
      401 Southeast Southeast Front Street, Milford, DE 19963
      View Details
    • $265,000
      1,270 SF

      First Floor Condo in Milford

      Move-in ready condo near beaches and downtown Milford.
      4101D FULLERTON COURT, MILFORD, DE 19963
      View Details

    FAQs

    What type of property is this?
    Storefront property - Well-located, fully occupied commercial property with expansion potential.
    Where is this storefront property located?
    The property is located at 280 N REHOBOTH BOULEVARD Milford, DE.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Priced below replacement cost; Fully occupied with long‑term history of occupancy; Immediate income generation (Day 1)
    (302) 422-1850
    We can help!
    Listing Contact
    JAMIE MASTEN
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    280 N REHOBOTH BOULEVARD, MILFORD, DE 19963
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!