Industrial Property with Multiple
For Sale
$2,100,000
28883 Sussex Hwy, Laurel, DE 19956
Over 16 acres with a large block building, attached and detached storage garages, and recently installed septic and well.
Property Size10,000 SF
Lot Size16.00 Acres
Price / SF$210
Days on Market140
Property Features for 28883 Sussex Hwy
General Information
Standard status
Active
Size
10,000 SF
Lot size
16.00 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1970
Listing Agency:
Keller Williams Realty
Listed By:
LISA HORSEY · License #RS-0023495
(302) 542-8296
Source:
Selltheshore
Added: Jun 4
Changed: Oct 11
Last Checked: Oct 7 at 2:51PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This offering includes more than 16 acres of industrial property featuring a large block building with an attached garage, along with a detached large storage garage. New septic and well have been recently installed to support on-site services. The package also includes a connecting parcel identified as 232-06.00-41.00 at 10296 Camp Rd, which contains a renovated brick home or office.
The property provides frontage on US 13 and on Camp Road. The tract has been annexed into the town of Laurel, with the intent described as creating a business park and supporting rental uses or operating a business on one parcel while using the brick home as a primary residence.
From a tenant and operator standpoint, the combination of large industrial building space and substantial storage capacity can fit a range of logistics, service, or warehousing needs, while the included renovated brick home or office may support owner-operator activity. Prospective buyers should note the property is private and access is restricted; visits require an agent or scheduling through the listing agent.
The property provides frontage on US 13 and on Camp Road. The tract has been annexed into the town of Laurel, with the intent described as creating a business park and supporting rental uses or operating a business on one parcel while using the brick home as a primary residence.
From a tenant and operator standpoint, the combination of large industrial building space and substantial storage capacity can fit a range of logistics, service, or warehousing needs, while the included renovated brick home or office may support owner-operator activity. Prospective buyers should note the property is private and access is restricted; visits require an agent or scheduling through the listing agent.
Key Highlights
- Over 16 acres of industrial property on the RT 13 corridor with frontage on US 13 and Camp Road
- Large block building plus an attached garage and a detached large storage garage
- Recently installed septic and well
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,969
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,139,380
$3.1M
Cap Rate 7%
$2,242,414
$2.2M
Cap Rate 9%
$1,744,100
$1.7M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$256.8K $25.68/SF
− Vacancy
−$47.5K −$4.75/SF
EGI
$209.3K $20.93/SF
− OpEx
−$52.3K −$5.23/SF
NOI
$157.0K $15.70/SF
Area
Sussex County, DE
Vacancy
18.50%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,139,380
Cap Rate 7%
$2,242,414
Cap Rate 9%
$1,744,100
Alternative Uses
Best Use
Office B
$2.24M
$1.96M – $2.62M
NOI $156,969 @ 7.0% cap · market cap 7.47%
Second Best
Warehouse
$948.6K
$830.0K – $1.11M
NOI $66,402 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$2.75M
$2.40M – $3.21M
NOI $192,360 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19956, DE
16,327
Population
6,556
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
84%
High-School Grad
100.4 sq mi
ZIP Area
163
Density / Sq Mi
$59,085
Median Household Income
$36,131
Median Earnings
$923
Median Rent
$233,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Hearthfire Self Storage — 29285 Discount Land Rd, Laurel, DE 19956
Frequently Asked Questions
What type of property is this?
Warehouse - Over 16 acres with a large block building, attached and detached storage garages, and recently installed septic and well.
Where is this warehouse located?
The property is located at 28883 Sussex Hwy Laurel, DE.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Over 16 acres of industrial property on the RT 13 corridor with frontage on US 13 and Camp Road; Large block building plus an attached garage and a detached large storage garage; Recently installed septic and well
