Victorian Mixed-Use
129 Union Street, Milton, DE 19968
For Sale
New
$375,000
Milton, DE
Property Size2,200 SF
Lot Size0.10 Acres
Price / SF$170.45
Days on Market3
Property Features for 129 Union Street
General Information
Property type
Property subtype
Standard status
Lot size
Additional Details
Currently Operating
Mixed-Use Components
Amenities
front porch
sunroom
skylights
exposed beams
landscaped yard
Building Details
Year built
Buildings
Listing Agency:
NextHome Tomorrow Realty
(302) 601-4171
Listed By:
Beebe Home Team Team
(302) 236-9229
Added: Nov 5
Changed: Nov 7
Last Checked: Nov 7 at 9:06PM
MLS# DESU2098874
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1905, this approximately 2,200-square-foot property combines ground-level commercial space with an upper residence. Interior features include hardwood floors, detailed millwork, stained-glass windows, and claw-foot tubs. The residence has four bedrooms, two bathrooms, an office, and an unfinished attic; a sunroom with skylights and exposed beams overlooks the landscaped yard. A front porch and rear parking are also part of the property.
The building is next to the Milton Library and Milton Memorial Park, with the yard backing to the park and Broadkill River. Shops, restaurants, and community events are nearby. Parking includes more than two spaces behind the home and two unassigned spaces in front; a town parking lot is across the street.
Town Center zoning permits a business on the main level with living space upstairs, as well as conversion to a single-family or semi-detached residence. Listed examples of light commercial uses include retail, a salon, coffee shop, restaurant, gallery, museum, or school.
The building is next to the Milton Library and Milton Memorial Park, with the yard backing to the park and Broadkill River. Shops, restaurants, and community events are nearby. Parking includes more than two spaces behind the home and two unassigned spaces in front; a town parking lot is across the street.
Town Center zoning permits a business on the main level with living space upstairs, as well as conversion to a single-family or semi-detached residence. Listed examples of light commercial uses include retail, a salon, coffee shop, restaurant, gallery, museum, or school.
Key Highlights
- Approximately 2,200 square feet; built in 1905
- Town Center zoning allows ground‑floor business use with a residence above
- Upper residence includes 4 bedrooms, 2 bathrooms, and an office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,136
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,720
$522.7K
Cap Rate 7%
$373,371
$373.4K
Cap Rate 9%
$290,400
$290.4K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$47.5K $21.60/SF
− Vacancy
−$5.7K −$2.59/SF
EGI
$41.8K $19.01/SF
− OpEx
−$15.7K −$7.13/SF
NOI
$26.1K $11.88/SF
Area
Sussex County, DE
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,720
Cap Rate 7%
$373,371
Cap Rate 9%
$290,400
Alternative Uses
Best Use
Office B
$493.3K
$431.7K – $575.6K
NOI $34,533 @ 7.0% cap · market cap 9.21%
Second Best
Mixed Use
$373.4K
$326.7K – $435.6K
NOI $26,136 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$604.6K
$529.0K – $705.3K
NOI $42,319 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 19968, DE
13,800
Population
7,380
Households
1.9
Avg Household Size
53
Median Age
40%
College-Educated
94%
High-School Grad
63.9 sq mi
ZIP Area
216
Density / Sq Mi
$81,646
Median Household Income
$43,088
Median Earnings
$1,408
Median Rent
$418,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Mixed-use properties in Sussex County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Town Center zoning supports a ground-floor business with a residence above.
Where is this mixed-use property located?
The property is located at 129 Union Street Milton, DE.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approximately 2,200 square feet; built in 1905; Town Center zoning allows ground‑floor business use with a residence above; Upper residence includes 4 bedrooms, 2 bathrooms, and an office
