5-Unit Residential Income
For Sale
$499,900
133 S MAIN ST, Smyrna, DE 19977
Five residential units feature individual gas and electric meters, with a lobby, basement, and parking plus street parking.
Property Size4,374 SF
Price / SF$114.29
Days on Market175
Property Features for 133 S MAIN ST
General Information
Standard status
Active
Size
4,374 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
5
Amenities
lobby
basement
parking lot
street parking
front and rear entrances/exits
Building Details
Tenancy
Multi
Listing Agency:
Bryan Realty Group
(302) 734-4414
Listed By:
Aaron Layton · License #RS-0023954
(302) 242-0432
Source:
Cathyshometeam
Added: May 9
Changed: Oct 30
Last Checked: Oct 30 at 2:12PM
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 Bryan Realty Group
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Investment Insights
Based on property information with market context.
This 5-unit residential income property includes a lobby and basement, with both front and rear entrances/exits. Each unit is separately metered with its own heat, gas, and electric meters.
The property is located in the downtown Smyrna area. On-site parking and street parking are available, and the units are currently on month-to-month leases.
The current gross annual rents are listed as $58,500, with fixed expenses noted as $7,027 for insurance and taxes.
The property is located in the downtown Smyrna area. On-site parking and street parking are available, and the units are currently on month-to-month leases.
The current gross annual rents are listed as $58,500, with fixed expenses noted as $7,027 for insurance and taxes.
Key Highlights
- 5‑unit residential property in downtown Smyrna built in 1870
- All 5 units have their own gas and electric meters
- Gross annual rents are $58,500
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,743
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$874,860
$874.9K
Cap Rate 7%
$624,900
$624.9K
Cap Rate 9%
$486,033
$486.0K
Market Conditions
NOI Build-Up for 4,374 SF
Gross rent
$83.5K $19.08/SF
− Vacancy
−$3.9K −$0.90/SF
EGI
$79.5K $18.18/SF
− OpEx
−$35.8K −$8.18/SF
NOI
$43.7K $10.00/SF
Area
Kent County, DE
Vacancy
4.70%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$874,860
Cap Rate 7%
$624,900
Cap Rate 9%
$486,033
Alternative Uses
Best Use
Apartment 5plus
$624.9K
$546.8K – $729.1K
NOI $43,743 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$963.7K – $1.28M
NOI $77,098 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
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Business Placement
Demographics for 19977, DE
27,505
Population
9,899
Households
2.8
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
83.1 sq mi
ZIP Area
331
Density / Sq Mi
$78,803
Median Household Income
$48,246
Median Earnings
$1,366
Median Rent
$311,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Five residential units feature individual gas and electric meters, with a lobby, basement, and parking plus street parking.
Where is this multifamily property located?
The property is located at 133 S MAIN ST Smyrna, DE.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 5‑unit residential property in downtown Smyrna built in 1870; All 5 units have their own gas and electric meters; Gross annual rents are $58,500
