Medical Office with Ample
1288 S Governors Ave Dover, DE 19904
1288 S Governors Ave, Dover, DE, 19904
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For Sale
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Business General zoned medical office fit-out with substantial parking and an established physical therapy tenant in place.
Property Size7,480 SF
Price / SF$267.38
Days on Market51
Property Features for 1288 S Governors Ave
General Information
- Standard status
- Active
- Size
- 7,480 SF
- Property subtype
- Office
Building Details
- Year Built
- 2004
Listing agency
The Commercial Moving Experience Real Estate
Listed by
Jeff Spiegelman · License #DE RS-0025326
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 1:52PM Checked: Jul 22 at 1:12PM
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 The Commercial Moving Experience Real Estate
Investment Insights
Based on property information with market context.
This property offers approximately 7,480 square feet and is zoned Business General. The space is currently fit up as a medical office, with an existing tenant arrangement that includes ATI Physical Therapy occupying approximately 3,500 square feet on a new lease.
The property is positioned near retail and other medical uses, with access described as close to major travel routes. Ample parking supports patient and client visits, making the site workable for day-to-day operations.
For buyers seeking a healthcare-oriented office environment, the combination of an in-place physical therapy tenant, medical-office buildout, and dedicated parking makes it a practical option. The Business General zoning also supports the property’s intended professional and medical use profile, while the surrounding mix of retail and healthcare uses can help support steady customer traffic for appropriate service tenants.
The property is positioned near retail and other medical uses, with access described as close to major travel routes. Ample parking supports patient and client visits, making the site workable for day-to-day operations.
For buyers seeking a healthcare-oriented office environment, the combination of an in-place physical therapy tenant, medical-office buildout, and dedicated parking makes it a practical option. The Business General zoning also supports the property’s intended professional and medical use profile, while the surrounding mix of retail and healthcare uses can help support steady customer traffic for appropriate service tenants.
Key Highlights
- Business General zoned property with a medical office fit‑out (year built 2004)
- Includes 7,480 +/- SF total area
- ATI Physical Therapy tenant in 3,500 +/- SF on a new lease
Local Financial Insights For Healthcare Medical
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 | $192.1k | $25.68 |
| − Vacancy | −$20.2k | −$2.70 |
| EGI | $171.9k | $22.98 |
| − OpEx | −$68.8k | −$9.19 |
| NOI | $103.2k | $13.79 |
7,480 SF · lease $25.68/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.47M
$1.29M – $1.72M
NOI $103,150 @ 7.0% cap · market cap 5.16%
Second Best
Office B
$1.45M
$1.27M – $1.69M
NOI $101,607 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,845 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
ASHLEY MCKENNA
Physician
Eileen Scanlon
Physician
CHINONSO OKORO
Physician
Kevin Griffith
Physician
MA CZARINA TARGA
Physician
Similar For Sale Nearby
Similar Off Market Nearby
- Governors Avenue Animal Hospital — 1008 S Governors Ave, Dover, DE 19904
- Governor's Avenue Animal Hospital: Foor James C DVM — 1008 S Governors Ave, Dover, DE 19904
- Delmarva Equine Clinic — 1008 S Governors Ave, Dover, DE 19904
- Michelle Egli, DVM — 1008 S Governors Ave, Dover, DE 19904
- Sosonowski Janice L DVM — 1008 S Governors Ave, Dover, DE 19904
FAQs
What type of property is this?
Medical Office Space - Business General zoned medical office fit-out with substantial parking and an established physical therapy tenant in place.
Where is this medical office space located?
The property is located at 1288 S Governors Ave Dover, DE.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Business General zoned property with a medical office fit‑out (year built 2004); Includes 7,480 +/- SF total area; ATI Physical Therapy tenant in 3,500 +/- SF on a new lease
