Manor Park Retail
For Sale
Contact for pricing
1409 N Dupont Highway, New Castle, DE 19720
Located in Manor Park Shopping Center with CR (Commercial Regional) zoning.
Property Size30,357 SF
Price / SF$196.82
Days on Market9
Property Features for 1409 N Dupont Highway
General Information
Standard status
Active
Size
30,357 SF
Class
C
Property subtype
Retail
Zoning
CR (Commercial Regional)
Occupancy
94%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$478,000
Additional Details
Cap Rate
8%
Building Details
Year Built
1970
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
DSM Commercial
(302) 757-5353
Listed By:
Gordon Winegar · License #DE#0022228
Source:
Crexi
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 20 at 2:29PM
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 DSM Commercial
Investment Insights
Based on property information with market context.
This 30,357-square-foot retail space is part of Manor Park Shopping Center and was built in 1970. The property carries CR (Commercial Regional) zoning and is offered for sale.
The asset is located at 1409 N Dupont Highway in New Castle, Delaware 19720. The listing reports an 8.00% CAP rate.
The asset is located at 1409 N Dupont Highway in New Castle, Delaware 19720. The listing reports an 8.00% CAP rate.
Key Highlights
- 30,357 SF retail space
- 8.00% CAP rate
- CR (Commercial Regional) zoning
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
$293,886
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
4.92%
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%
$5,877,720
$5.9M
Cap Rate 7%
$4,198,371
$4.2M
Cap Rate 9%
$3,265,400
$3.3M
Market Conditions
NOI Build-Up for 30,357 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
$455.4K $15.00/SF
− Vacancy
−$35.5K −$1.17/SF
EGI
$419.8K $13.83/SF
− OpEx
−$126.0K −$4.15/SF
NOI
$293.9K $9.68/SF
Area
New Castle County, DE
Vacancy
7.80%
Lease Rate
$15.00 /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%
$5,877,720
Cap Rate 7%
$4,198,371
Cap Rate 9%
$3,265,400
Alternative Uses
Best Use
Retail
$4.20M
$3.67M – $4.90M
NOI $293,886 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.26M
$6.35M – $8.47M
NOI $508,278 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
131k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 44%
Home Improvements & Furnishings 1%
Wawa
Shops & Services
52,400 visits/mo
0.2 miles
McDonald's
Dining
24,609 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
9,646 visits/mo
0.1 miles
Dunkin' Donuts
Dining
6,753 visits/mo
0.2 miles
Checkers
Dining
5,726 visits/mo
0.1 miles
Demographics for 19720, DE
61,043
Population
24,262
Households
2.5
Avg Household Size
39
Median Age
22%
College-Educated
89%
High-School Grad
38.3 sq mi
ZIP Area
1,594
Density / Sq Mi
$75,985
Median Household Income
$42,600
Median Earnings
$1,282
Median Rent
$242,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Located in Manor Park Shopping Center with CR (Commercial Regional) zoning.
Where is this retail space located?
The property is located at 1409 N Dupont Highway New Castle, DE.
What is the asking price?
The asking price for this property is $5,975,000.
What are key features of this property?
This property features: 30,357 SF retail space; 8.00% CAP rate; CR (Commercial Regional) zoning
