High-Visibility Corner Flex
For Sale
$995,000
34051 Dupont Boulevard, Frankford, DE 19945
Corner commercial property with kitchen-equipped space, sectioned offices, dedicated storage, and a secondary storage structure.
Property Size3,000 SF
Price / SF$331.67
Days on Market223
Property Features for 34051 Dupont Boulevard
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Mixed Use
Amenities
Central Air
3
Concrete
Metal
COMMERCIAL
Parking. Corner Lot.
Lot.
Other, Corner, State Road, Paved Road.
Building Details
Year Built
1970
Listing Agency:
Long & Foster Real Estate, Inc.
(302) 539-9040
Listed By:
SARAH SCHIFANO
(302) 858-3945
Source:
Xome
Added: Jan 26
Changed: Sep 1
Last Checked: Sep 5 at 4:04AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This high-visibility corner property includes a primary building of approximately 3,000 square feet with existing kitchen equipment, a spacious open area, sectioned office space, and dedicated storage. A secondary structure of approximately 1,200 square feet provides additional storage capacity and may also be suitable for renovation into office or flex space. The rear third of the property remains unimproved, offering room for expansion, outdoor use, or future development.
The property is positioned along the main highway for exposure and is accessible from Hickory Street through town. It is adjacent to town limits, with county regulations applying.
As a For Sale offering, this combination of built space, office configuration, and on-site storage supports multiple commercial uses within the existing layout.
The property is positioned along the main highway for exposure and is accessible from Hickory Street through town. It is adjacent to town limits, with county regulations applying.
As a For Sale offering, this combination of built space, office configuration, and on-site storage supports multiple commercial uses within the existing layout.
Key Highlights
- Commercial corner lot with paved road access and parking lot setup; located along the main highway.
- Primary building features ~3,000 SF with existing kitchen equipment, open area, sectioned office space, and dedicated storage.
- Secondary structure adds ~1,200 SF for additional storage or potential office/flex conversion.
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
$47,091
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
4.73%
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%
$941,820
$941.8K
Cap Rate 7%
$672,729
$672.7K
Cap Rate 9%
$523,233
$523.2K
Market Conditions
NOI Build-Up for 3,000 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
$77.0K $25.68/SF
− Vacancy
−$14.3K −$4.75/SF
EGI
$62.8K $20.93/SF
− OpEx
−$15.7K −$5.23/SF
NOI
$47.1K $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%
$941,820
Cap Rate 7%
$672,729
Cap Rate 9%
$523,233
Alternative Uses
Best Use
Office B
$672.7K
$588.6K – $784.9K
NOI $47,091 @ 7.0% cap · market cap 4.73%
Second Best
Flex RnD
$399.8K
$349.8K – $466.4K
NOI $27,986 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$824.4K
$721.4K – $961.8K
NOI $57,708 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19945, DE
8,041
Population
5,823
Households
1.4
Avg Household Size
51
Median Age
32%
College-Educated
92%
High-School Grad
62.3 sq mi
ZIP Area
129
Density / Sq Mi
$86,021
Median Household Income
$37,062
Median Earnings
$1,229
Median Rent
$410,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial property with kitchen-equipped space, sectioned offices, dedicated storage, and a secondary storage structure.
Where is this flex space located?
The property is located at 34051 Dupont Boulevard Frankford, DE.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Commercial corner lot with paved road access and parking lot setup; located along the main highway.; Primary building features ~3,000 SF with existing kitchen equipment, open area, sectioned office space, and dedicated storage.; Secondary structure adds ~1,200 SF for additional storage or potential office/flex conversion.
