Dual-Bay Auto Service
New
For Sale
Contact for pricing
301 E STATE STREET, Delmar, DE 19940
Includes a separate business office, two restrooms, and distinct heating systems for the office and service area.
Property Size1,200 SF
Price / SF$1.83
Days on Market4
Property Features for 301 E STATE STREET
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Zoning
Town of Delmar Community Business
Building Details
Year Built
1970
Tenancy
Single
Listing Agency:
SVN/Miller Commercial Real Estate
(410) 543-2440
Listed By:
Chris Peek · License #27688
(410) 603-9112
Source:
Cummingsrealtors
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 5:39PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,200-square-foot auto service property, built in 1970, has a two-bay garage, a business office, and two bathrooms. Each bay has a 10-by-10-foot overhead door. A new metal roof has been installed, and a mini-split heat pump serves the office; the garage is heated by a forced-air oil burner.
The property sits at the corner of East State Street/RT 54 and Bi State Boulevard/Alternate Route 13 in Delmar. Front parking accommodates approximately 15 cars, with additional parking area behind the building. Zoning is Town of Delmar Community Business. Used automobile sales are an excluded use.
The property sits at the corner of East State Street/RT 54 and Bi State Boulevard/Alternate Route 13 in Delmar. Front parking accommodates approximately 15 cars, with additional parking area behind the building. Zoning is Town of Delmar Community Business. Used automobile sales are an excluded use.
Key Highlights
- Two‑bay service garage with 10x10 overhead doors
- 1,200 square feet; built in 1970
- Business office and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,069
Suggested Prices Based on Cap Rates
Cap Rate 5%
$141,380
$141.4K
Cap Rate 7%
$100,986
$101.0K
Cap Rate 9%
$78,544
$78.5K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$10.8K $9.00/SF
− Vacancy
−$702 −$0.59/SF
EGI
$10.1K $8.42/SF
− OpEx
−$3.0K −$2.52/SF
NOI
$7.1K $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%
$141,380
Cap Rate 7%
$100,986
Cap Rate 9%
$78,544
Alternative Uses
Best Use
Retail
$153.7K
$134.5K – $179.3K
NOI $10,757 @ 7.0% cap · market cap 488.95%
Second Best
Industrial
$101.0K
$88.4K – $117.8K
NOI $7,069 @ 7.0% cap · market cap 321.32%
Theoretical Best
Office A
$329.8K
$288.5K – $384.7K
NOI $23,083 @ 7.0% cap · market cap 1,049.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19940, DE
6,541
Population
2,711
Households
2.4
Avg Household Size
40
Median Age
22%
College-Educated
84%
High-School Grad
41.3 sq mi
ZIP Area
158
Density / Sq Mi
$63,361
Median Household Income
$48,067
Median Earnings
$938
Median Rent
$225,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Mote Mobile Windshield Repair & Replacement Group — 505 e chestnut st, delmar, md 21875
- Delmar Auto Center — Waller Rd, Delmar, MD 21875
- State Line Auto Care — 1 N Bi State Blvd, Delmar, DE 19940
- Kays's Mobile Instant Oil Change & Service's — 210 E State St, Delmar, MD 21875
- Johnsons OK Complete Exhaust Care — 303 E State St, Delmar, DE 19940
Frequently Asked Questions
What type of property is this?
Auto shop - Includes a separate business office, two restrooms, and distinct heating systems for the office and service area.
Where is this auto shop located?
The property is located at 301 E STATE STREET Delmar, DE.
What are key features of this property?
This property features: Two‑bay service garage with 10x10 overhead doors; 1,200 square feet; built in 1970; Business office and 2 bathrooms
