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

    129 Union St, Milton, DE 19968

    View on Map
    Claim this Listing
    For Sale
    $450,000

    Commercial property for sale, located next to Milton library.

    Property size:
    2,200 SF
    Price / SF:
    $204/SF
    Added:
    Oct 18, 2025
    Days on Market:
    228
    Last Refresh:
    Mar 16 at 8:24 am

    Property Features for 129 Union St

    General Information

    Standard status
    Active
    Size
    2,200 SF

    Building Details

    Year Built
    1905

    We can help!

    Listing Contact
    ErinAnn Beebe

    Listing agent ErinAnn Beebe

    Listing office

    Listing date Oct 18, 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 ErinAnn Beebe

    HighLights

    • Water, city, and river views
    • Central air conditioning
    • Convenient location next to Milton Library
    • Historic charm, built in 1905
    • On street parking
    • Crawl space basement

    Overview

    This commercial property, with a size of 2200 square feet, is located next to the Milton library in Sussex County.
    Location Intelligence

    Current Use by Public Records

    Ogre's Grove (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Milton
    County
    Sussex
    State
    Delaware
    Longitude
    -75.3111019
    Latitude
    38.7790082

    Nearby Similar for Sale

    • $3,975,000
      12,860 SF

      Milton Medical Park Investment Opportunity

      Fully leased medical office park with expansion potential in Milton, DE.
      611 Federal Street, Milton, DE 19968
      View Details
    • $5,400,000
      19,712 SF

      Milton, Delaware Investment Opportunity

      Diversified property portfolio with self-storage, car wash, and commercial building.
      200-204 Broadkill Rd, Milton, DE 19968
      View Details
    • $5,400,000
      13,400 SF

      Milton, DE Investment Opportunity

      Diversified property portfolio with self-storage, car wash, and commercial building.
      200-204 Broadkill Rd, Milton, DE 19968
      View Details
    • $550,000

      Land For Sale in MILTON

      Land available for sale in MILTON, Delaware.
      1106 BAY FRONT RD, MILTON, DE 19968
      View Details
    • $799,000
      2,470 SF

      Retail Storefront in Milton, DE

      Retail property located at a stop sign in Milton.
      2 S Bay Shore Dr, Milton, DE 19968
      View Details
    • $199,000

      Established Hair Salon in Milton

      Turnkey hair salon with long-standing clientele in Milton, DE.
      626 MULBERRY STREET, MILTON, DE 19968
      View Details
    • $875,000

      Diamond Farm Road Land Opportunity

      Land available on Diamond Farm Road in Milton, Delaware.
      16405 DIAMOND FARM Rd, Milton, DE 19968
      View Details
    • $450,000

      RESERVE Way Land For Sale

      Land available on RESERVE Way, Milton, DE.
      19855 RESERVE Way, Milton, DE 19968
      View Details
    • $614,900

      OTTO Dr, Milton, DE Property

      Property for sale in Milton, DE.
      29394 OTTO Dr, Milton, DE 19968
      View Details
    • $654,900

      OTTO Dr, Milton, DE Property

      Specialty property available for sale in Milton, Delaware.
      29388 OTTO Dr, Milton, DE 19968
      View Details
    • $644,900

      Milton, DE Specialty Property

      Specialty property available for sale in Milton, Delaware.
      29392 OTTO Dr, Milton, DE 19968
      View Details
    • Contact for pricing
      10,000 SF

      New Warehouse/Office Development in Milton

      New warehouse and office units for sale in Milton, DE.
      Route 16, Milton, DE 19966
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial property for sale, located next to Milton library.
    Where is this specialty property located?
    The property is located at 129 Union St Milton, DE.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Water, city, and river views; Central air conditioning; Convenient location next to Milton Library
    (302) 236-9229
    We can help!
    Listing Contact
    ErinAnn Beebe
    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
    129 Union St, Milton, DE 19968
    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!