Industrial Property with Seller
For Sale
$1,999,000
24904 Sussex Hwy, Seaford, DE 19973
The seller is interested in continuing occupancy of part or all of the building after closing.
Property Size16,000 SF
Price / SF$124.94
Days on Market22
Property Features for 24904 Sussex Hwy
General Information
Standard status
Active
Size
16,000 SF
Building Details
Year Built
1990
Listing Agency:
R&R Commercial Realty
Listed By:
Keith Walpole, Marie Biro · License #RS-0014425
(302) 674-3400
Source:
Griffinhigginsteam
Added: Aug 20
Changed: Sep 8
Last Checked: Sep 9 at 11:40PM
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 R&R Commercial Realty
Investment Insights
Based on property information with market context.
This industrial property was constructed in 1990 and is offered with a potential seller leaseback arrangement. The seller would like to remain in a portion of the building or occupy the entire facility following a transaction.
The property is located at 24904 SUSSEX Hwy in Seaford, Delaware. Walk Score is 13 and Bike Score is 30, indicating a car-dependent setting with limited bike accessibility.
The property is located at 24904 SUSSEX Hwy in Seaford, Delaware. Walk Score is 13 and Bike Score is 30, indicating a car-dependent setting with limited bike accessibility.
Key Highlights
- Seller would like to lease back part or all of the building
- Industrial property located at 24904 SUSSEX Hwy, Seaford, DE 19973
- Constructed in 1990
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$94,248
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,884,960
$1.9M
Cap Rate 7%
$1,346,400
$1.3M
Cap Rate 9%
$1,047,200
$1.0M
Market Conditions
NOI Build-Up for 16,000 SF
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.
Gross rent
$144.0K $9.00/SF
− Vacancy
−$9.4K −$0.59/SF
EGI
$134.6K $8.42/SF
− OpEx
−$40.4K −$2.52/SF
NOI
$94.2K $5.89/SF
Area
Sussex County, DE
Vacancy
6.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,884,960
Cap Rate 7%
$1,346,400
Cap Rate 9%
$1,047,200
Alternative Uses
Best Use
Industrial
$1.35M
$1.18M – $1.57M
NOI $94,248 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.40M
$3.85M – $5.13M
NOI $307,776 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Explore this area
Business Placement
Demographics for 19973, DE
25,550
Population
10,725
Households
2.4
Avg Household Size
42
Median Age
18%
College-Educated
84%
High-School Grad
84.0 sq mi
ZIP Area
304
Density / Sq Mi
$62,668
Median Household Income
$36,439
Median Earnings
$1,131
Median Rent
$254,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Industrial property - The seller is interested in continuing occupancy of part or all of the building after closing.
Where is this industrial property located?
The property is located at 24904 Sussex Hwy Seaford, DE.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Seller would like to lease back part or all of the building; Industrial property located at 24904 SUSSEX Hwy, Seaford, DE 19973; Constructed in 1990
