Five-Bay Automotive Service
For Sale
$425,000
222 Railroad Ave, Dover, DE 19904
Existing improvements include multiple service bays, a detached shed, and two buildings requiring repairs and upgrades.
Property Size2,250 SF
Price / SF$188.89
Days on Market47
Property Features for 222 Railroad Ave
General Information
Standard status
Active
Size
2,250 SF
Property Condition
Severity
Repairs Needed
Evidence
need upgrading and repairs
Additional Details
Road Access
Yes
Land Use
commercial
Service Bays
5
Amenities
shed
5 bays
Building Details
Year Built
1980
Buildings
2
Listing Agency:
Myers Realty
Listed By:
Barbara Miller
(302) 670-1567
Source:
Premierehomegroup
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 7 at 1:07PM
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 Myers Realty
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Investment Insights
Based on property information with market context.
This automotive property consists of two commercial buildings, one shed, and five bays on more than 14,000 square feet of land. The site was previously used for cycle and automotive service, with existing improvements requiring repairs and upgrades. Two commercial properties are being offered together.
Located in downtown Dover, the property sits along a private road adjacent to railroad tracks and near the end of Loockerman St. The site is close to the Duncan Center, DAFB, Bally’s Casino, the mall, and shopping centers. Beaches and Routes 1, I-95, and Route 301 are within a short drive.
Located in downtown Dover, the property sits along a private road adjacent to railroad tracks and near the end of Loockerman St. The site is close to the Duncan Center, DAFB, Bally’s Casino, the mall, and shopping centers. Beaches and Routes 1, I-95, and Route 301 are within a short drive.
Key Highlights
- More than 14,000 square feet of land in downtown Dover
- Two commercial properties offered together
- Two buildings, one shed, and 5 bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,216
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,320
$504.3K
Cap Rate 7%
$360,229
$360.2K
Cap Rate 9%
$280,178
$280.2K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$36.7K $16.32/SF
− Vacancy
−$698 −$0.31/SF
EGI
$36.0K $16.01/SF
− OpEx
−$10.8K −$4.80/SF
NOI
$25.2K $11.21/SF
Area
Kent County, DE
Vacancy
1.90%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,320
Cap Rate 7%
$360,229
Cap Rate 9%
$280,178
Alternative Uses
Best Use
Industrial
$360.2K
$315.2K – $420.3K
NOI $25,216 @ 7.0% cap · market cap 5.93%
Second Best
Retail
$292.2K
$255.7K – $340.9K
NOI $20,455 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$566.6K
$495.7K – $661.0K
NOI $39,659 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,378
Businesses Nearby
34k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 11%
Royal Farms
Shops & Services
23,034 visits/mo
0.5 miles
M&T Bank
Shops & Services
4,988 visits/mo
0.5 miles
Krispy Krunchy Chicken
Dining
3,678 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
1,896 visits/mo
0.1 miles
Demographics for 19904, DE
36,880
Population
16,047
Households
2.3
Avg Household Size
38
Median Age
27%
College-Educated
91%
High-School Grad
43.2 sq mi
ZIP Area
854
Density / Sq Mi
$66,885
Median Household Income
$39,459
Median Earnings
$1,240
Median Rent
$281,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Benchmark Transmission — 718 S Governors Ave, Dover, DE 19904
- Preston Auto Body Of Dover — 640 S Governors Ave, Dover, DE 19901
- Farlow Racing LLC — 8 The Green B, Dover, DE 19901
- Fabiola Towing — 950 bedford dr, dover, de 19904
- Kyle’s Workshop LLC — 700 A, Forest St, Dover, DE 19904
Frequently Asked Questions
What type of property is this?
Auto shop - Existing improvements include multiple service bays, a detached shed, and two buildings requiring repairs and upgrades.
Where is this auto shop located?
The property is located at 222 Railroad Ave Dover, DE.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: More than 14,000 square feet of land in downtown Dover; Two commercial properties offered together; Two buildings, one shed, and 5 bays
