Retail/Flex Property on Route
For Sale
$1,100,000
3895 N Dupont Hwy, Dover, DE 19901
Highly visible retail/flex property with showroom, office, and warehouse space.
Property Size6,680 SF
Price / SF$164.67
Days on Market168
Property Features for 3895 N Dupont Hwy
General Information
Standard status
Active
Size
6,680 SF
Property subtype
Retail
Listing Agency:
(302) 893-7937
Listed By:
Rich Dudek, SIOR · License #DE #RS-0016602
(302) 893-7937
Source:
Naiglobal
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 21 at 5:19AM
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 Rich Dudek, SIOR
Investment Insights
Based on property information with market context.
This highly visible retail/flex property is located along the busy Route 13 corridor in North Dover, offering strong frontage, easy access, and excellent exposure. The building features a mix of showroom, office, and warehouse space, with additional second-floor space. The property includes approximately 6,680 square feet, including approximately 4,800 square feet of warehouse space with three drive-in doors and 16' ceiling heights, and approximately 1,380 square feet of showroom/office area. There is also approximately 500 square feet of office space. It is ideal for auto repair/sales, equipment rental, retail sales and service, and home remodeling sales and showroom. The BG zoning allows for many types of uses.
Key Highlights
- High visibility on busy Route 13 with strong frontage, easy access, and excellent exposure.
- 6,680 +/- SF retail/flex space including 4,800 +/- SF of warehouse space.
- Three drive‑in doors and 16' ceiling heights** in the warehouse.
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
$92,147
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
8.38%
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%
$1,842,940
$1.8M
Cap Rate 7%
$1,316,386
$1.3M
Cap Rate 9%
$1,023,856
$1.0M
Market Conditions
NOI Build-Up for 6,680 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
$110.6K $16.56/SF
− Vacancy
−$2.2K −$0.33/SF
EGI
$108.4K $16.23/SF
− OpEx
−$16.3K −$2.43/SF
NOI
$92.1K $13.79/SF
Area
Kent County, DE
Vacancy
2.00%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
15.00%
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%
$1,842,940
Cap Rate 7%
$1,316,386
Cap Rate 9%
$1,023,856
Alternative Uses
Best Use
Warehouse
$1.32M
$1.15M – $1.54M
NOI $92,147 @ 7.0% cap · market cap 8.38%
Second Best
Office B
$1.30M
$1.13M – $1.51M
NOI $90,740 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,744 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19901, DE
36,839
Population
15,443
Households
2.4
Avg Household Size
34
Median Age
27%
College-Educated
89%
High-School Grad
75.8 sq mi
ZIP Area
486
Density / Sq Mi
$63,891
Median Household Income
$33,069
Median Earnings
$1,353
Median Rent
$258,400
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?
Showroom - Highly visible retail/flex property with showroom, office, and warehouse space.
Where is this showroom located?
The property is located at 3895 N Dupont Hwy Dover, DE.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: High visibility on busy Route 13 with strong frontage, easy access, and excellent exposure.; 6,680 +/- SF retail/flex space including **4,800 +/- SF of warehouse space**.; Three drive‑in doors and 16' ceiling heights** in the warehouse.
