Retail Space with Private
For Sale
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32191 NASSAU ROAD #5, Lewes, DE 19958
Flexible commercial layout with work areas, a kitchenette, private bathroom, and on-site parking.
Property Size1,962 SF
Price / SF$0.01
Days on Market52
Property Features for 32191 NASSAU ROAD #5
General Information
Standard status
Active
Size
1,962 SF
Property subtype
Commercial
Zoning
C-1
Additional Details
Road Access
Yes
Amenities
open work areas
private offices
kitchenette
private bathroom
recessed lighting
ample parking
Building Details
Year Built
1990
Listing Agency:
R&R Commercial Realty
Listed By:
Keith Walpole · License #RS-0014425
(302) 674-3400
Source:
Cummingsrealtors
Added: Sep 9
Changed: Oct 29
Last Checked: Oct 28 at 7:30AM
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 R&R Commercial Realty
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Investment Insights
Based on property information with market context.
This retail property contains approximately 1,962 square feet within a commercial building constructed in 1990. The interior combines open work areas with private offices, a kitchenette, private bathroom, and recessed lighting. The configuration can accommodate professional office, retail, wellness, design, consulting, and other compatible commercial uses, subject to permitted-use and zoning requirements.
The property is located at 32191 Nassau Road in Lewes and adjoins the Lewes-Georgetown Bike Path. The site includes ample parking and is part of an established commercial setting with neighboring businesses. C-1 zoning applies to the property, with final use requirements to be verified by the tenant or purchaser.
The property is located at 32191 Nassau Road in Lewes and adjoins the Lewes-Georgetown Bike Path. The site includes ample parking and is part of an established commercial setting with neighboring businesses. C-1 zoning applies to the property, with final use requirements to be verified by the tenant or purchaser.
Key Highlights
- Approximately 1,962 square feet of commercial space
- Open work areas paired with private offices
- Kitchenette and private bathroom included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,588
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,760
$351.8K
Cap Rate 7%
$251,257
$251.3K
Cap Rate 9%
$195,422
$195.4K
Market Conditions
NOI Build-Up for 1,962 SF
Gross rent
$27.1K $13.80/SF
− Vacancy
−$1.9K −$0.99/SF
EGI
$25.1K $12.81/SF
− OpEx
−$7.5K −$3.84/SF
NOI
$17.6K $8.96/SF
Area
Sussex County, DE
Vacancy
7.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$351,760
Cap Rate 7%
$251,257
Cap Rate 9%
$195,422
Alternative Uses
Best Use
Office B
$440.0K
$385.0K – $513.3K
NOI $30,797 @ 7.0% cap · market cap 139,986.36%
Second Best
Retail
$251.3K
$219.9K – $293.1K
NOI $17,588 @ 7.0% cap · market cap 79,945.45%
Theoretical Best
Office A
$539.2K
$471.8K – $629.0K
NOI $37,741 @ 7.0% cap · market cap 171,550.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
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Business Placement
Demographics for 19958, DE
27,911
Population
19,410
Households
1.4
Avg Household Size
61
Median Age
49%
College-Educated
95%
High-School Grad
47.3 sq mi
ZIP Area
590
Density / Sq Mi
$91,445
Median Household Income
$49,124
Median Earnings
$1,654
Median Rent
$488,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Retail space - Flexible commercial layout with work areas, a kitchenette, private bathroom, and on-site parking.
Where is this retail space located?
The property is located at 32191 NASSAU ROAD #5 Lewes, DE.
What are key features of this property?
This property features: Approximately 1,962 square feet of commercial space; Open work areas paired with private offices; Kitchenette and private bathroom included
