Freestanding Office
For Sale
Contact for pricing
16337 COASTAL HIGHWAY, Lewes, DE 19958
Standalone professional office with reception, private offices, basement storage, and dedicated on-site parking.
Property Size1,300 SF
Price / SF$3.08
Days on Market51
Property Features for 16337 COASTAL HIGHWAY
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Commercial
Building Details
Year Built
1987
Buildings
1
Building Size
1,300 SF
Listing Agency:
DSM COMMERCIAL
Listed By:
BRITTANY DANAHY · License #RB-0020210
(302) 227-0768
Source:
Cummingsrealtors
Added: Sep 10
Changed: Oct 29
Last Checked: Oct 28 at 7:51AM
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
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Investment Insights
Based on property information with market context.
This freestanding office building provides 1,300 square feet of professional workspace with a reception area, private offices, and a full basement for storage. The property was built in 1987 and was formerly occupied by a dermatology practice, supporting a layout suited to office-based operations.
Positioned along Coastal Highway in Lewes, the building offers dedicated on-site parking and access to Downtown Lewes and Rehoboth Beach. Its standalone configuration and signage potential provide a distinct presence for a professional or service-oriented business.
Positioned along Coastal Highway in Lewes, the building offers dedicated on-site parking and access to Downtown Lewes and Rehoboth Beach. Its standalone configuration and signage potential provide a distinct presence for a professional or service-oriented business.
Key Highlights
- 1,300 SF freestanding office building
- Built in 1987
- Former dermatology practice layout with reception area and private offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,346
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,920
$366.9K
Cap Rate 7%
$262,086
$262.1K
Cap Rate 9%
$203,844
$203.8K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$31.2K $24.00/SF
− Vacancy
−$624 −$0.48/SF
EGI
$30.6K $23.52/SF
− OpEx
−$12.2K −$9.41/SF
NOI
$18.3K $14.11/SF
Area
Sussex County, DE
Vacancy
2.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,920
Cap Rate 7%
$262,086
Cap Rate 9%
$203,844
Alternative Uses
Best Use
Office B
$291.5K
$255.1K – $340.1K
NOI $20,406 @ 7.0% cap · market cap 510.15%
Second Best
Healthcare Medical
$262.1K
$229.3K – $305.8K
NOI $18,346 @ 7.0% cap · market cap 458.65%
Theoretical Best
Office A
$357.2K
$312.6K – $416.8K
NOI $25,007 @ 7.0% cap · market cap 625.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,106
Businesses Nearby
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Business Placement
Demographics for 19958, DE
27,911
Population
19,410
Households
1.4
Avg Household Size
61
Median Age
49%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
590
Density / Sq Mi
$91,445
Median Household Income
$49,124
Median Earnings
$1,654
Median Rent
$488,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Standalone professional office with reception, private offices, basement storage, and dedicated on-site parking.
Where is this office building located?
The property is located at 16337 COASTAL HIGHWAY Lewes, DE.
What are key features of this property?
This property features: 1,300 SF freestanding office building; Built in 1987; Former dermatology practice layout with reception area and private offices
