Freestanding Retail
New
For Sale
$960,000
23392 Sussex Highway - US Rt. 13, Seaford, DE 19973
Direct access from US Route 13 and on-site parking complement an open sales floor with a rear office.
Property Size9,600 SF
Lot Size1.17 Acres
Price / SF$100
Days on Market2
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Property Features for 23392 Sussex Highway - US Rt. 13
General Information
Standard status
Active
Size
9,600 SF
Lot size
1.17 Acres
Property subtype
Retail Investment Property
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
9.16%
Building Details
Building Size
9,600 SF
Buildings
1
Tenancy
Single
Listing Agency:
SVN | Miller Commercial Real Estate Salisbury
Listed By:
Flo Brotzman · License #MD #597618
(410) 726-0966
Source:
Svnmiller
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:39AM
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 SVN | Miller Commercial Real Estate Salisbury
Investment Insights
Based on property information with market context.
This freestanding retail property contains 9,600 square feet on 1.17 acres. The interior is primarily open retail space, with a small office at the back. Heating and air conditioning serve the building, and an overhead drive-in door provides an additional point of access. The property has a 9.16% cap rate. Its current lease runs through February 2028 and includes a five-year renewal option.
Located in Seaford, the building has direct access from US Route 13 and parking on site. Nearby businesses include Chick-fil-A, AutoZone, McDonald’s, Wawa, Food Lion, Walmart, Walgreens, and Lowe’s.
Located in Seaford, the building has direct access from US Route 13 and parking on site. Nearby businesses include Chick-fil-A, AutoZone, McDonald’s, Wawa, Food Lion, Walmart, Walgreens, and Lowe’s.
Key Highlights
- 9,600‑square‑foot freestanding retail building on 1.17 acres
- 9.16% cap rate
- Open retail floor with a small rear office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,059
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,721,180
$1.7M
Cap Rate 7%
$1,229,414
$1.2M
Cap Rate 9%
$956,211
$956.2K
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$132.5K $13.80/SF
− Vacancy
−$9.5K −$0.99/SF
EGI
$122.9K $12.81/SF
− OpEx
−$36.9K −$3.84/SF
NOI
$86.1K $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 Rate 5%
$1,721,180
Cap Rate 7%
$1,229,414
Cap Rate 9%
$956,211
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.43M
NOI $86,059 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,666 @ 7.0% cap · market cap 19.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
452k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 30%
Shops & Services 30%
Superstores 17%
Home Improvements & Furnishings 8%
Walmart
Superstores
77,198 visits/mo
0.4 miles
Wawa
Shops & Services
36,318 visits/mo
0.2 miles
Lowe's
Home Improvements & Furnishings
36,176 visits/mo
0.5 miles
McDonald's
Dining
34,885 visits/mo
0.2 miles
Chick-fil-A
Dining
34,589 visits/mo
0.2 miles
Demographics for 19973, DE
25,550
Population
10,725
Households
2.4
Avg Household Size
42
Median Age
18%
College-Educated
84%
High-School Grad
84.0 sq mi
ZIP Area
304
Density / Sq Mi
$62,668
Median Household Income
$36,439
Median Earnings
$1,131
Median Rent
$254,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Storefront property - Direct access from US Route 13 and on-site parking complement an open sales floor with a rear office.
Where is this storefront property located?
The property is located at 23392 Sussex Highway - US Rt. 13 Seaford, DE.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 9,600‑square‑foot freestanding retail building on 1.17 acres; 9.16% cap rate; Open retail floor with a small rear office
