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 Market237
Property Features for 2 S Bay Shore Dr
General Information
Standard status
Active
Size
2,470 SF
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$779
Listing Agency:
Coldwell Banker Premier - Lewes
(302) 645-2881
Listed By:
Julie Gritton · License #RA-0031139
(302) 645-1111
Source:
Exprealty
Added: Feb 28
Changed: Oct 10
Last Checked: Oct 20 at 10:38PM
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 - Lewes
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$29,910
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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.
