Industrial Property with Seller
For Sale
$1,999,000
24904 Sussex Hwy, Seaford, DE 19973
The seller is interested in continuing occupancy of part or all of the building after closing.
Property Size16,000 SF
Price / SF$124.94
Days on Market57
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Property Features for 24904 Sussex Hwy
General Information
Standard status
Active
Size
16,000 SF
Building Details
Year Built
1990
Listing Agency:
R&R Commercial Realty
Listed By:
Keith Walpole, Marie Biro · License #RS-0014425
(302) 674-3400
Source:
Griffinhigginsteam
Added: Aug 20
Changed: Oct 7
Last Checked: Oct 7 at 2:34PM
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 R&R Commercial Realty
Investment Insights
Based on property information with market context.
This industrial property was constructed in 1990 and is offered with a potential seller leaseback arrangement. The seller would like to remain in a portion of the building or occupy the entire facility following a transaction.
The property is located at 24904 SUSSEX Hwy in Seaford, Delaware. Walk Score is 13 and Bike Score is 30, indicating a car-dependent setting with limited bike accessibility.
The property is located at 24904 SUSSEX Hwy in Seaford, Delaware. Walk Score is 13 and Bike Score is 30, indicating a car-dependent setting with limited bike accessibility.
Key Highlights
- Seller would like to lease back part or all of the building
- Industrial property located at 24904 SUSSEX Hwy, Seaford, DE 19973
- Constructed in 1990
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,248
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,884,960
$1.9M
Cap Rate 7%
$1,346,400
$1.3M
Cap Rate 9%
$1,047,200
$1.0M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$144.0K $9.00/SF
− Vacancy
−$9.4K −$0.59/SF
EGI
$134.6K $8.42/SF
− OpEx
−$40.4K −$2.52/SF
NOI
$94.2K $5.89/SF
Area
Sussex County, DE
Vacancy
6.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,884,960
Cap Rate 7%
$1,346,400
Cap Rate 9%
$1,047,200
Alternative Uses
Best Use
Industrial
$1.35M
$1.18M – $1.57M
NOI $94,248 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.40M
$3.85M – $5.13M
NOI $307,776 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Explore this area
Business Placement
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 Industrial in South region
Frequently Asked Questions
What type of property is this?
Industrial property - The seller is interested in continuing occupancy of part or all of the building after closing.
Where is this industrial property located?
The property is located at 24904 Sussex Hwy Seaford, DE.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Seller would like to lease back part or all of the building; Industrial property located at 24904 SUSSEX Hwy, Seaford, DE 19973; Constructed in 1990
