Retail Storefront in Milton,
For Sale
$799,000
2 S Bay Shore Dr, Milton, DE 19968
Retail property located at a stop sign in Milton.
Property Size2,470 SF
Price / SF$323.48
Days on Market357
Property Features for 2 S Bay Shore Dr
General Information
Standard status
Active
Size
2,470 SF
Total Parking Spaces
10
Zoning
B-1
Taxes and HOA fees
Annual Taxes
$678
Amenities
Window Unit(s)
Electric Water Heater
Building Details
Building Size
2,470 SF
Year Built
1970
Listing Agency:
Coldwell Banker Premier
(302) 645-1111
Listed By:
Julie Gritton · License #RA-0031139
(302) 645-1111
Source:
Evrealestate
Added: Aug 18, 2025
Changed: Aug 8
Last Checked: Jul 16 at 6:54AM
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 Coldwell Banker Premier
Investment Insights
Based on property information with market context.
The property, known as The Broadkill Store, is located at the stop sign where Broadkill Road meets Bay Shore Drive. The building has a size of 2470 square feet and is located in Sussex County.
Key Highlights
- Located directly at the intersection of Broadkill Road and Bay Shore, offering high visibility.
- Includes The Broadkill Store business.
- Located in Sussex County.
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
$29,910
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
3.74%
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%
$598,200
$598.2K
Cap Rate 7%
$427,286
$427.3K
Cap Rate 9%
$332,333
$332.3K
Market Conditions
NOI Build-Up for 2,470 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
$44.5K $18.00/SF
− Vacancy
−$4.6K −$1.85/SF
EGI
$39.9K $16.15/SF
− OpEx
−$10.0K −$4.04/SF
NOI
$29.9K $12.11/SF
Area
Sussex County, DE
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$598,200
Cap Rate 7%
$427,286
Cap Rate 9%
$332,333
Alternative Uses
Best Use
Specialty Retail
$427.3K
$373.9K – $498.5K
NOI $29,910 @ 7.0% cap · market cap 3.74%
Second Best
Retail
$316.3K
$276.8K – $369.0K
NOI $22,142 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$678.8K
$593.9K – $791.9K
NOI $47,513 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19968, DE
13,800
Population
7,380
Households
1.9
Avg Household Size
53
Median Age
40%
College-Educated
94%
High-School Grad
63.9 sq mi
ZIP Area
216
Density / Sq Mi
$81,646
Median Household Income
$43,088
Median Earnings
$1,408
Median Rent
$418,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Retail property located at a stop sign in Milton.
Where is this grocery and convenience store located?
The property is located at 2 S Bay Shore Dr Milton, DE.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Located directly at the intersection of Broadkill Road and Bay Shore, offering high visibility.; Includes The Broadkill Store business.; Located in Sussex County.
