Dagsboro Mixed-Use Property For
For Sale
$1,200,000
31229 DUPONT Blvd, Dagsboro, DE 19939
Mixed-use property with office, and storage buildings on 1.44 acres.
Property Size6,900 SF
Lot Size1.44 Acres
Price / SF$173.91
Days on Market106
Property Features for 31229 DUPONT Blvd
General Information
Standard status
Active
Size
6,900 SF
Lot size
1.44 Acres
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
Keller Williams Realty
(302) 236-7349
Listed By:
Andrew Timmons · License #RA-0002917
(302) 236-7349
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 6 at 8:57AM
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
Investment Insights
Based on property information with market context.
Located on 1.44 acres just outside of Dagsboro on Dupont Highway, this mixed-use property features a converted home now used as an office/commercial space, along with two storage buildings. The property benefits from excellent visibility, high traffic counts, and 300 feet of frontage. The converted home/office provides 2,200 square feet across two levels and is currently occupied by a tenant under a NNN lease with approximately two years remaining. The larger warehouse measures approximately 4,900 square feet on the first level and 2,000 square feet on the second floor. The smaller storage structure offers 1,725 square feet. The storage buildings are currently occupied by the seller, who requests 60 days to vacate them post-closing. The storage buildings do not have plumbing, heat, or air conditioning.
Key Highlights
- High‑visibility location on Dupont Highway with 300 feet of frontage and high traffic counts.
- 1.44‑acre property suitable for commercial use.
- Includes a 2,200 sq ft converted home/office with an existing tenant and a NNN lease with approximately two years remaining.
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
$108,309
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
9.03%
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%
$2,166,180
$2.2M
Cap Rate 7%
$1,547,271
$1.5M
Cap Rate 9%
$1,203,433
$1.2M
Market Conditions
NOI Build-Up for 6,900 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
$177.2K $25.68/SF
− Vacancy
−$32.8K −$4.75/SF
EGI
$144.4K $20.93/SF
− OpEx
−$36.1K −$5.23/SF
NOI
$108.3K $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 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%
$2,166,180
Cap Rate 7%
$1,547,271
Cap Rate 9%
$1,203,433
Alternative Uses
Best Use
Office B
$1.55M
$1.35M – $1.81M
NOI $108,309 @ 7.0% cap · market cap 9.03%
Second Best
Mixed Use
$1.17M
$1.02M – $1.37M
NOI $81,972 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,728 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 19939, DE
7,357
Population
4,252
Households
1.7
Avg Household Size
54
Median Age
34%
College-Educated
93%
High-School Grad
26.0 sq mi
ZIP Area
283
Density / Sq Mi
$86,583
Median Household Income
$48,041
Median Earnings
$1,375
Median Rent
$365,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with office, and storage buildings on 1.44 acres.
Where is this mixed-use property located?
The property is located at 31229 DUPONT Blvd Dagsboro, DE.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High‑visibility location on Dupont Highway with 300 feet of frontage and high traffic counts.; 1.44‑acre property suitable for commercial use.; Includes a 2,200 sq ft converted home/office with an existing tenant and a NNN lease with approximately two years remaining.
