Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land For Sale Title is generated by Realmo AI

    Lot 1 Diane Rd, Ocean View, DE 19970

    View on Map
    Claim this Listing
    For Sale
    $289,990

    Land available in Ocean View, Delaware.

    Type:Land
    Added:
    Apr 10, 2025
    Days on Market:
    419
    Last Refresh:
    Mar 16 at 8:23 am

    Property Features for Lot 1 Diane Rd

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    JEFFREY KEMP

    Listing agent JEFFREY KEMP License #RS-0023702

    Listing office EXP Realty, LLC

    Listing date Apr 10, 2025

    Source Evrealestate

    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 EXP Realty, LLC

    HighLights

    • Sussex County location.
    • GPS directions provided.

    Overview

    This land is located in Ocean View, Delaware, in Sussex County. Directions can be found using GPS.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Nail Salon Gym & Fitness Center Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocean View
    County
    Sussex
    State
    Delaware
    Longitude
    -75.139291
    Latitude
    38.5517002

    Nearby Similar for Sale

    • $2,150,000
      11,500 SF

      Delaware Commercial Site Near Beaches

      Fully developed commercial site with 11,500 SF usable space.
      30387 CEDAR NECK Rd, Ocean View, DE 19970
      View Details
    • $3,500,000

      Ocean View Coastal Property

      11.80-acre property near Bethany Beach with residential development potential.
      37186 CLUB HOUSE Road, OCEAN VIEW, DE 19970
      View Details
    • $200,000

      Coastal Homesite Near Bethany Beach

      Homesite in desirable coastal community, close to Bethany Beach.
      LOT 18 VENTA DR, OCEAN VIEW, DE 19970
      View Details
    • $349,000

      Coastal Lot in Ocean View

      Generously sized lot near beach, boardwalk, restaurants, and shopping.
      1ST STREET #LOT 9, OCEAN VIEW, DE 19967
      View Details
    • $750,000

      Commercial Building Near Bethany Beach

      Restored building near Bethany Beach on Rt. 26.
      100 ATLANTIC Ave, Ocean View, DE 19970
      View Details
    • $850,000

      Land Approved for Subdivision

      2.5 acres approved for 6 buildable lots near beach.
      34 WOODLAND AVE, OCEAN VIEW, DE 19970
      View Details
    • $145,000

      Ocean View Land For Sale

      0.26 acre lot, 3 miles to Bethany Beach.
      CLUBHOUSE lot: 14, OCEAN VIEW, DE 19970
      View Details
    • $385,000

      Ocean View Land Opportunity

      0.23-acre wooded lot near Indian River Bay.
      2ND Street lot: 14, OCEAN VIEW, DE 19970
      View Details
    • $200,000

      Land Near Bethany Beach

      Residential land near Bethany. Build your dream home!
      LOT 3 CLUB HOUSE RD, OCEAN VIEW, DE 19970
      View Details
    • $537,000

      Ocean View Specialty Property

      Specialty property available for sale in Ocean View.
      90 WILLOW OAK Ave, Ocean View, DE 19970
      View Details
    • $62,500

      Private Boat Slip with Lift

      Boat slip with lift in private marina community.
      155 NAOMI DRIVE, #79, Ocean View, DE 19970
      View Details
    • $649,000

      Ocean View Lot For Sale

      Lot for sale in Ocean View, Delaware.
      36025 JACKSON STREET LOT 10, Ocean View, DE 19970
      View Details

    FAQs

    What type of property is this?
    Land - Land available in Ocean View, Delaware.
    Where is this land located?
    The property is located at Lot 1 Diane Rd Ocean View, DE.
    What is the asking price?
    The asking price for this property is $289,990.
    What are key features of this property?
    This property features: Sussex County location.; GPS directions provided.
    (302) 228-3987
    We can help!
    Listing Contact
    JEFFREY KEMP
    Real Estate License ID: RS-0023702
    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
    Lot 1 Diane Rd, Ocean View, DE 19970
    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!