Heated Auto Shop With
For Sale
$2,885,000
17593 E Nassau Commons Blvd, Lewes, DE 19958
Insulated engineered-steel facility includes upper-level offices, service access, and an existing automotive tenant.
Property Size10,320 SF
Lot Size0.98 Acres
Price / SF$279.55
Days on Market49
Property Features for 17593 E Nassau Commons Blvd
General Information
Standard status
Active
Size
10,320 SF
Lot size
0.98 Acres
Property subtype
Commercial
Additional Details
Drive-In Doors
6
Service Bays
6
Amenities
shop compressor
six 20' x 18' overhead doors
showroom
office space
heated
insulated
Building Details
Year Built
2020
Buildings
1
Stories
2
Construction
steel frame
Tenancy
Single
Listed By:
Jeffrey Fowler Group
(302) 727-3013
Source:
Jeffreyfowler
Added: Aug 9
Changed: Sep 9
Last Checked: Sep 24 at 10:01AM
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 Jeffrey Fowler Group
Investment Insights
Based on property information with market context.
Built in 2020, this 10,000-square-foot engineered steel building is fully heated and insulated, with a 60-foot by 136-foot footprint. The facility includes a 2,160-square-foot showroom, a separate office area of equal size above, six 20-foot by 18-foot overhead doors, and a shop compressor. The site measures 100 feet by 427 feet and provides ample parking.
The property is located at 17593 E Nassau Commons Blvd in Lewes, Delaware. It is currently occupied by a tenant operating a classic auto sales and service center. The tenant’s auto lifts and front-end alignment machine are excluded from the sale and do not convey.
The property is located at 17593 E Nassau Commons Blvd in Lewes, Delaware. It is currently occupied by a tenant operating a classic auto sales and service center. The tenant’s auto lifts and front-end alignment machine are excluded from the sale and do not convey.
Key Highlights
- 10,000 square foot heated and insulated engineered steel building
- Built in 2020 on a 100' x 427' site
- Six 20' x 18' overhead doors
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
$96,273
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
3.34%
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%
$1,925,460
$1.9M
Cap Rate 7%
$1,375,329
$1.4M
Cap Rate 9%
$1,069,700
$1.1M
Market Conditions
NOI Build-Up for 10,320 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
$161.0K $15.60/SF
− Vacancy
−$12.9K −$1.25/SF
EGI
$148.1K $14.35/SF
− OpEx
−$51.8K −$5.02/SF
NOI
$96.3K $9.33/SF
Area
Sussex County, DE
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,925,460
Cap Rate 7%
$1,375,329
Cap Rate 9%
$1,069,700
Alternative Uses
Best Use
Flex RnD
$1.38M
$1.20M – $1.60M
NOI $96,273 @ 7.0% cap · market cap 3.34%
Second Best
Retail
$1.32M
$1.16M – $1.54M
NOI $92,513 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,516 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Drive-in doors
6
Service bays
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Auto Glass USA of Lewes — 12001 Old Vine Blvd, Lewes, DE 19958
- McQueen Classics — 17593 Nassau Commons Blvd Suite B, Lewes, DE 19958
- D&T Garage — 32379 Lewes Georgetown Hwy, Lewes, DE 19958
- Access Auto Center — 32393 Lewes Georgetown Hwy, Lewes, DE 19958
- Sussex County Customs — 17507 Nassau Commons Blvd, Lewes, DE 19958
Frequently Asked Questions
What type of property is this?
Auto shop - Insulated engineered-steel facility includes upper-level offices, service access, and an existing automotive tenant.
Where is this auto shop located?
The property is located at 17593 E Nassau Commons Blvd Lewes, DE.
What is the asking price?
The asking price for this property is $2,885,000.
What are key features of this property?
This property features: 10,000 square foot heated and insulated engineered steel building; Built in 2020 on a 100' x 427' site; Six 20' x 18' overhead doors
