Convenience Store Building with Concrete
New
For Sale
$209,000
20587 MILTON ELLENDALE Hwy, Ellendale, DE 19941
AR-1 zoned convenience store building with solid concrete/masonry construction on Route 16 between Milton and Ellendale.
Property Size975 SF
Lot Size0.65 Acres
Price / SF$214.36
Days on Market5
Property Features for 20587 MILTON ELLENDALE Hwy
General Information
Standard status
Active
Size
975 SF
Lot size
0.65 Acres
Property subtype
Commercial
Zoning
AR-1
Additional Details
Road Access
Yes
Building Details
Year Built
1990
Buildings
1
Building Size
975 SF
Construction
concrete/masonry
Listing Agency:
(302) 609-9888
Listed By:
Michael Mulski
(302) 609-9888
Source:
Elliman
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 3 at 4:37AM
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 Michael Mulski
Investment Insights
Based on property information with market context.
This Route 16 convenience-store and mixed-use site sits on approximately 0.65 acre and includes a 975± SF solid concrete/masonry building (built in 1990). The construction type is well suited to durable roadside retail, service, garage, storage, and related uses, and the property has historically been marketed for garage, small-engine repair, and store use.
Public records identify the parcel as AR-1 with commercial land use. The location is positioned between established fuel/convenience destinations, with the nearest major options approximately 3.1 miles west (Royal Farms and Exxon) and Milton Quick Stop approximately 3.7 miles east toward Milton. Nearby residential growth includes Captain’s Way, a 301-lot community with homes along Northstar Drive approximately 0.5 mile from the property.
The property previously had a single-wide manufactured home. Sussex County AR-1 zoning regulations permit a qualifying manufactured home to be used as a detached single-family dwelling on an individual lot, subject to applicable county requirements and approvals. Buyers should independently verify all zoning, septic, well, entrance, fuel-system, and other required approvals for any re-establishment or combined residential and commercial use.
Public records identify the parcel as AR-1 with commercial land use. The location is positioned between established fuel/convenience destinations, with the nearest major options approximately 3.1 miles west (Royal Farms and Exxon) and Milton Quick Stop approximately 3.7 miles east toward Milton. Nearby residential growth includes Captain’s Way, a 301-lot community with homes along Northstar Drive approximately 0.5 mile from the property.
The property previously had a single-wide manufactured home. Sussex County AR-1 zoning regulations permit a qualifying manufactured home to be used as a detached single-family dwelling on an individual lot, subject to applicable county requirements and approvals. Buyers should independently verify all zoning, septic, well, entrance, fuel-system, and other required approvals for any re-establishment or combined residential and commercial use.
Key Highlights
- Approximately 0.65‑acre site with a 975± SF solid concrete/masonry building
- Built in 1990
- AR‑1 zoning with commercial land use per public records
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.6k | $18.00 |
| − Vacancy | −$1.8k | −$1.85 |
| EGI | $15.7k | $16.15 |
| − OpEx | −$3.9k | −$4.04 |
| NOI | $11.8k | $12.11 |
975 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$168.7K
$147.6K – $196.8K
NOI $11,807 @ 7.0% cap · market cap 5.65%
Second Best
Retail
$124.9K
$109.3K – $145.7K
NOI $8,740 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$267.9K
$234.4K – $312.6K
NOI $18,755 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19941, DE
2,857
Population
1,273
Households
2.2
Avg Household Size
38
Median Age
17%
College-Educated
83%
High-School Grad
30.3 sq mi
ZIP Area
94
Density / Sq Mi
$66,601
Median Household Income
$43,297
Median Earnings
$1,054
Median Rent
$225,500
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?
Grocery and convenience store - AR-1 zoned convenience store building with solid concrete/masonry construction on Route 16 between Milton and Ellendale.
Where is this grocery and convenience store located?
The property is located at 20587 MILTON ELLENDALE Hwy Ellendale, DE.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Approximately 0.65‑acre site with a 975± SF solid concrete/masonry building; Built in 1990; AR‑1 zoning with commercial land use per public records
