Highway Frontage Commercial
For Sale
$2,200,000
18119 SUSSEX HIGHWAY, Bridgeville, DE 19933
Commercial property with highway frontage and redevelopment potential.
Property Size13,000 SF
Lot Size6.00 Acres
Price / SF$169.23
Days on Market175
Property Features for 18119 SUSSEX HIGHWAY
General Information
Standard status
Active
Size
13,000 SF
Lot size
6.00 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,216
Building Details
Building Size
13,000 SF
Year Built
2000
Listing Agency:
Keller Williams Realty
(302) 632-7407
Listed By:
Thomas Lucks · License #RA-0020851
(302) 632-7407
Source:
Barnesrealestatecompany
Added: Mar 2
Changed: Aug 23
Last Checked: Aug 23 at 10:45AM
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 Realty
Investment Insights
Based on property information with market context.
This commercial property features a direct north/south highway location with C-1 zoning. The B+ to A rated facility includes approximately 13,000 square feet of business space and 350 feet of road frontage on 6 acres. The average annual daily traffic count is over 25,000. The property is divided into three units: one with 4675 square feet, one with 5930 square feet, and one with approximately 2400 square feet. One of the spaces, comprising 2400 square feet, is occupied by a long-term tenant with a monthly rent of $2600 on a triple net lease. There are approximately 70 parking spaces, along with additional driveway and rear ancillary parking. The units are separated by firewalls and feature individual key-card staff entries, a diesel generator to prevent power loss, and fiber optics throughout. The property has an on-site LPP septic system with six pumps and a 2800-gallon capacity. The facility includes an LED lighted highway pylon, parking lot lighting, and a strobe fire alarm system throughout. Electric service is provided by Delmarva Power, and the property has multiple HVAC units and 220 VAC. The property is not in a flood zone and has no municipal taxes. The location is suitable for continued use or redevelopment. The property has a bike score of 37, indicating it is somewhat bikeable, and a walk score of 24, indicating car-dependence.
Key Highlights
- Direct N/S highway location with 350‑foot road frontage and high traffic volume (AADT 25,000+)
- C‑1 zoning on 6 acres, suitable for continued use or redevelopment
- Approximately 13,000 s/f of business space divided into 3 units, offering diverse leasing opportunities
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
$116,538
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
5.30%
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%
$2,330,760
$2.3M
Cap Rate 7%
$1,664,829
$1.7M
Cap Rate 9%
$1,294,867
$1.3M
Market Conditions
NOI Build-Up for 13,000 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
$179.4K $13.80/SF
− Vacancy
−$12.9K −$0.99/SF
EGI
$166.5K $12.81/SF
− OpEx
−$49.9K −$3.84/SF
NOI
$116.5K $8.96/SF
Area
Sussex County, DE
Vacancy
7.20%
Lease Rate
$13.80 /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%
$2,330,760
Cap Rate 7%
$1,664,829
Cap Rate 9%
$1,294,867
Alternative Uses
Best Use
Retail
$1.66M
$1.46M – $1.94M
NOI $116,538 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.57M
$3.13M – $4.17M
NOI $250,068 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 100%
Goodwill
Apparel
5,398 visits/mo
0.2 miles
Demographics for 19933, DE
9,784
Population
4,454
Households
2.2
Avg Household Size
42
Median Age
19%
College-Educated
84%
High-School Grad
67.3 sq mi
ZIP Area
145
Density / Sq Mi
$61,261
Median Household Income
$36,269
Median Earnings
$1,021
Median Rent
$231,300
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?
Strip mall - Commercial property with highway frontage and redevelopment potential.
Where is this strip mall located?
The property is located at 18119 SUSSEX HIGHWAY Bridgeville, DE.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Direct N/S highway location with **350‑foot road frontage** and high traffic volume (AADT 25,000+); C‑1 zoning on 6 acres, suitable for continued use or redevelopment; Approximately 13,000 s/f of business space divided into 3 units, offering diverse leasing opportunities
