Retail
New
For Sale
Contact for pricing
40 COMMERCE STREET, Harrington, DE 19952
The C-2-zoned space previously housed a hair salon and may suit other commercial uses subject to city approval.
Property Size8,385 SF
Price / SF$0.16
Days on Market3
Property Features for 40 COMMERCE STREET
General Information
Standard status
Active
Size
8,385 SF
Property subtype
Commercial
Zoning
C-2
Building Details
Year Built
1929
Listing Agency:
Iron Valley Real Estate Premier
(302) 741-4545
Listed By:
Tyler L Nicholls · License #rs-0023081
(302) 423-1848
Source:
Cummingsrealtors
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 15 at 2:24AM
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 Iron Valley Real Estate Premier
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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.
Located at 40 Commerce Street in downtown Harrington, this retail property was previously used as a hair salon. The C-2 zoning allows for a range of potential commercial uses, subject to city approval.
The building dates to 1929. Its prior salon use and downtown address are the available physical and location details.
The building dates to 1929. Its prior salon use and downtown address are the available physical and location details.
Key Highlights
- C‑2 zoning; potential uses are subject to city approval
- Previously used as a hair salon
- At 40 Commerce Street in downtown Harrington
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,227
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,524,540
$1.5M
Cap Rate 7%
$1,088,957
$1.1M
Cap Rate 9%
$846,967
$847.0K
Market Conditions
NOI Build-Up for 8,385 SF
Gross rent
$117.7K $14.04/SF
− Vacancy
−$8.8K −$1.05/SF
EGI
$108.9K $12.99/SF
− OpEx
−$32.7K −$3.90/SF
NOI
$76.2K $9.09/SF
Area
Kent County, DE
Vacancy
7.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,524,540
Cap Rate 7%
$1,088,957
Cap Rate 9%
$846,967
Alternative Uses
Best Use
Retail
$1.09M
$952.8K – $1.27M
NOI $76,227 @ 7.0% cap · market cap 5,646.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,797 @ 7.0% cap · market cap 10,947.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
M&T Bank
Shops & Services
4,444 visits/mo
0.1 miles
WSFS Bank
Shops & Services
1,607 visits/mo
0.2 miles
Demographics for 19952, DE
10,621
Population
4,446
Households
2.4
Avg Household Size
41
Median Age
23%
College-Educated
91%
High-School Grad
91.0 sq mi
ZIP Area
117
Density / Sq Mi
$78,333
Median Household Income
$41,713
Median Earnings
$1,183
Median Rent
$274,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - The C-2-zoned space previously housed a hair salon and may suit other commercial uses subject to city approval.
Where is this retail space located?
The property is located at 40 COMMERCE STREET Harrington, DE.
What are key features of this property?
This property features: C‑2 zoning; potential uses are subject to city approval; Previously used as a hair salon; At 40 Commerce Street in downtown Harrington
