308 MAIN STREET, Clayton, DE 19938

Building Details

Year Built 1901 More

Tenancy Multi More

Listing Agency: R&R Commercial Realty Show Phone

Listed By: Immocolata Carannante · License DE RS-0019491 Show Phone

Source: Cummingsrealtors

Added: Sep 20 Changed: Nov 10 Last Checked: Nov 10 at 8:54AM

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Investment Insights

Based on property information with market context.

This 1,575-square-foot mixed-use property includes a commercial storefront and two apartments within a three-unit configuration. The storefront is grandfathered for commercial use, while each unit is separately metered. Both apartments include in-unit laundry, and the interior includes a combination of carpet and laminate flooring. A new roof was installed in August 2026.

Built in 1901, the property sits on a 0.06-acre lot at 308 Main Street in Clayton, Delaware. Off-site parking options are available, and the layout accommodates a combination of commercial and residential occupancy in one building.

Key Highlights

• 1,575 SF mixed‑use property with three units
• Grandfathered commercial storefront with two apartments
• All units are separately metered

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,320

Cap Rate

7.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$406,400 $406.4K

Cap Rate 7%

$290,286 $290.3K

Cap Rate 9%

$225,778 $225.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,575 SF

Gross rent

$35.5K $22.56/SF

− Vacancy

−$3.0K −$1.92/SF

EGI

$32.5K $20.64/SF

− OpEx

−$12.2K −$7.74/SF

NOI

$20.3K $12.90/SF

Area

Kent County, DE

Vacancy

8.50%

Lease Rate

$22.56 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$406,400

Cap Rate 7%

$290,286

Cap Rate 9%

$225,778

Alternative Uses

Best Use

Mixed Use

$290.3K

$254.0K – $338.7K (±1% cap)

NOI $20,320 @ 7.0% cap · market cap 7.28%

Second Best

Apartment 5plus

$225.0K

$196.9K – $262.5K (±1% cap)

NOI $15,751 @ 7.0% cap · market cap 5.65%

Theoretical Best

Office A

$396.6K

$347.0K – $462.7K (±1% cap)

NOI $27,762 @ 7.0% cap · market cap 9.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Restaurant Building Supply Dental Office Law Firm Auto Repair Shop Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

171

Businesses Nearby

1k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Home Improvements & Furnishings 100%

Southern States Home Improvements & Furnishings

1,443 visits/mo 0.3 miles

Demographics for 19938, DE

10,131

Population

3,246

Households

3.1

Avg Household Size

39

Median Age

23%

College-Educated

91%

High-School Grad

48.2 sq mi

ZIP Area

210

Density / Sq Mi

$96,338

Median Household Income

$47,487

Median Earnings

$1,624

Median Rent

$335,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Renovated mixed-use building combining a commercial storefront with two apartments and separately metered units.

Where is this mixed-use property located?

The property is located at 308 MAIN STREET Clayton, DE.

What is the asking price?

The asking price for this property is $279,000.

What are key features of this property?

This property features: 1,575 SF mixed‑use property with three units; Grandfathered commercial storefront with two apartments; All units are separately metered