Retail and Nursery
For Sale
$2,000,000
2561 S Dupont Boulevard, Smyrna, DE 19977
A 7,400+ sq ft retail and nursery operation with storage and a second-floor 3-bedroom residence.
Property Size7,404 SF
Lot Size1.30 Acres
Price / SF$270.12
Days on Market68
Property Features for 2561 S Dupont Boulevard
General Information
Standard status
Active
Size
7,404 SF
Lot size
1.30 Acres
Additional Details
Multifamily Units
1
Building Details
Year Built
1940
Stories
2
Listing Agency:
Crown Homes Real Estate
(302) 504-6147
Listed By:
Corey J Harris · License #RS-368137
Source:
Kandorre
Added: Jun 17
Changed: Aug 23
Last Checked: Aug 22 at 6:45PM
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 Crown Homes Real Estate
Investment Insights
Based on property information with market context.
This property is a 7,400+ square foot retail and nursery facility on 1.3 acres. Originally constructed in 1940 as a gas station with a mechanic shop, it has been converted to a floral shop and landscaping nursery business. The layout includes a retail shop and storage spaces, along with a three-bedroom, one-bath residential dwelling on the second floor.
The property is located right on Rt. 13 in Smyrna, providing direct roadway frontage.
For sale as a mixed-use commercial building with both operating space and an attached second-floor residential component.
The property is located right on Rt. 13 in Smyrna, providing direct roadway frontage.
For sale as a mixed-use commercial building with both operating space and an attached second-floor residential component.
Key Highlights
- 7,000+ sq ft commercial building on 1.3 acres in Smyrna
- Right on Rt. 13
- Previously operated as a gas station and mechanic shop (built in 1940)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,309
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,346,180
$1.3M
Cap Rate 7%
$961,557
$961.6K
Cap Rate 9%
$747,878
$747.9K
Market Conditions
NOI Build-Up for 7,404 SF
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.
Gross rent
$104.0K $14.04/SF
− Vacancy
−$7.8K −$1.05/SF
EGI
$96.2K $12.99/SF
− OpEx
−$28.8K −$3.90/SF
NOI
$67.3K $9.09/SF
Area
Kent County, DE
Vacancy
7.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,346,180
Cap Rate 7%
$961,557
Cap Rate 9%
$747,878
Alternative Uses
Best Use
Retail
$961.6K
$841.4K – $1.12M
NOI $67,309 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,506 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19977, DE
27,505
Population
9,899
Households
2.8
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
83.1 sq mi
ZIP Area
331
Density / Sq Mi
$78,803
Median Household Income
$48,246
Median Earnings
$1,366
Median Rent
$311,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Coleman's Garden Center — 2614 S Dupont Blvd, Smyrna, DE 19977
Frequently Asked Questions
What type of property is this?
Nursery and garden center - A 7,400+ sq ft retail and nursery operation with storage and a second-floor 3-bedroom residence.
Where is this nursery and garden center located?
The property is located at 2561 S Dupont Boulevard Smyrna, DE.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 7,000+ sq ft commercial building on 1.3 acres in Smyrna; Right on Rt. 13; Previously operated as a gas station and mechanic shop (built in 1940)
