Five-Unit Apartment Building For
For Sale
$525,000
133 South Main Street, Smyrna, DE 19977
Five-unit apartment building with separate utilities and tenant occupancy.
Property Size4,374 SF
Price / SF$120.03
Days on Market221
Property Features for 133 South Main Street
General Information
Standard status
Active
Size
4,374 SF
Total Parking Spaces
8
Property subtype
Multi-Family / Fee Simple
Zoning
DR
Net Operating Income
$51,473
Taxes and HOA fees
Annual Taxes
$3,059
Amenities
No
No Pool
Building Details
Year Built
1870
Listing Agency:
Keller Williams Real Estate - Newark
Listed By:
Will Webber · License #R1-0002774
(302) 354-0600
Source:
Compass
Added: Mar 24
Changed: Oct 27
Last Checked: Oct 28 at 11:38AM
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 Keller Williams Real Estate - Newark
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.
This property is a five-unit apartment building, suitable for multifamily and commercial use. Each unit has separate electric meters, gas meters, and water heaters. The heating systems are separate, hot water circulating baseboard systems. Individual unit air conditioning is also present. All five units are currently occupied by tenants who would like to remain. Showings are available between noon and 3 PM with 48 hours notice.
Key Highlights
- Five‑unit apartment building with tenants in place
- Separate electric and gas meters for each unit
- Separate hot water heaters and baseboard heat systems for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,743
Cap Rate
8.33%
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 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$963.7K – $1.28M
NOI $77,098 @ 7.0% cap · market cap 14.69%
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
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment building with separate utilities and tenant occupancy.
Where is this apartment building located?
The property is located at 133 South Main Street Smyrna, DE.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Five‑unit apartment building with tenants in place; Separate electric and gas meters for each unit; Separate hot water heaters and baseboard heat systems for each unit
