Office Condominium End
For Sale
$745,000
31-5201 W Woodmill Dr, Wilmington, DE 19808
Flexible office space is offered within an established corporate center near Kirkwood Highway.
Property Size3,450 SF
Price / SF$215.94
Days on Market70
Property Features for 31-5201 W Woodmill Dr
General Information
Standard status
Active
Size
3,450 SF
Additional Details
Highway Access
Yes
Property Use
Professional Office
Taxes and HOA fees
Annual Taxes
$1,868
Amenities
reception and waiting areas
conference space
kitchen facilities
storage areas
private restrooms
Building Details
Tenancy
Multi
Listing Agency:
RE/MAX Associates - Newark
(302) 453-3200
Listed By:
Daniel Mawn · License #RS-0024255
(302) 396-4079
Source:
Exprealty
Added: Aug 25
Changed: Oct 28
Last Checked: Nov 1 at 8:40AM
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 RE/MAX Associates - Newark
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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.
An end-unit office condominium of approximately 3,450 square feet is part of an offering that may include one or more units at Woodmill Corporate Center. Floor plans vary; features found in many units include reception and waiting areas, private offices, conference space, kitchen facilities, storage, and private restrooms.
The corporate center sits just off Kirkwood Highway, with access to major transportation routes, nearby restaurants, and on-site parking. Some units have tenants with existing leases, and showings may be arranged outside normal business hours to limit disruption.
The corporate center sits just off Kirkwood Highway, with access to major transportation routes, nearby restaurants, and on-site parking. Some units have tenants with existing leases, and showings may be arranged outside normal business hours to limit disruption.
Key Highlights
- End‑unit office condominium of approximately 3,450 square feet
- Multiple office units may be available for purchase
- Many units include private offices, conference space, kitchen facilities, and private restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,991
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$939,820
$939.8K
Cap Rate 7%
$671,300
$671.3K
Cap Rate 9%
$522,122
$522.1K
Market Conditions
NOI Build-Up for 3,450 SF
Gross rent
$77.8K $22.56/SF
− Vacancy
−$15.2K −$4.40/SF
EGI
$62.7K $18.16/SF
− OpEx
−$15.7K −$4.54/SF
NOI
$47.0K $13.62/SF
Area
New Castle County, DE
Vacancy
19.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$939,820
Cap Rate 7%
$671,300
Cap Rate 9%
$522,122
Alternative Uses
Best Use
Office B
$671.3K
$587.4K – $783.2K
NOI $46,991 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$825.2K
$722.1K – $962.8K
NOI $57,765 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Explore this area
Business Placement
Demographics for 19808, DE
39,285
Population
16,037
Households
2.4
Avg Household Size
44
Median Age
41%
College-Educated
93%
High-School Grad
13.8 sq mi
ZIP Area
2,847
Density / Sq Mi
$92,883
Median Household Income
$53,084
Median Earnings
$1,357
Median Rent
$309,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible office space is offered within an established corporate center near Kirkwood Highway.
Where is this office unit located?
The property is located at 31-5201 W Woodmill Dr Wilmington, DE.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: End‑unit office condominium of approximately 3,450 square feet; Multiple office units may be available for purchase; Many units include private offices, conference space, kitchen facilities, and private restrooms
