Historic Corner Restaurant
408 S State Street Dover, DE 19901
408 S State Street, Dover, DE, 19901
$299,999
For Sale
$299,999
Corner-lot brick building dating to 1750, suited for a coffee shop or specialty eatery in downtown Dover.
Property Size1,113 SF
Price / SF$269.54
Days on Market127
Property Features for 408 S State Street
General Information
- Standard status
- Active
- Size
- 1,113 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1750
Listing agency
The Watson Realty Group, LLC
(302) 542-8422
Listed by
Donna Watson · License #R1-0002887
(302) 542-8422
Source
Xome
Added: Mar 17 Updated: Jul 10 at 1:56PM Checked: Jul 17 at 2:09AM
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 The Watson Realty Group, LLC
Investment Insights
Based on property information with market context.
This historic brick building, built in 1750, offers a classic setting for a coffee shop, small deli, or specialty eatery. The property sits on a corner lot and features classic brick sidewalks, giving it a distinctive downtown feel that aligns well with neighborhood dining concepts.
Located in historic downtown Dover, the building is positioned just steps from The Green. It is surrounded by attorney offices and professional services, creating an active streetscape of daily professional activity, with seasonal downtown events adding additional in-town draw.
For an owner-operator or operator looking for a small-format food and beverage use, the layout and downtown orientation support a straightforward retail approach for serving locals and visitors. This is also a practical fit for buyers seeking a character-driven restaurant building in a walkable, established business district setting.
Located in historic downtown Dover, the building is positioned just steps from The Green. It is surrounded by attorney offices and professional services, creating an active streetscape of daily professional activity, with seasonal downtown events adding additional in-town draw.
For an owner-operator or operator looking for a small-format food and beverage use, the layout and downtown orientation support a straightforward retail approach for serving locals and visitors. This is also a practical fit for buyers seeking a character-driven restaurant building in a walkable, established business district setting.
Key Highlights
- Corner‑lot brick building dating to 1750 in historic downtown Dover
- Suitable for a coffee shop, small deli, or specialty eatery
- Window A/C and wood flooring; heating systems indicated as “3”
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.0k | $18.00 |
| − Vacancy | −$1.1k | −$0.99 |
| EGI | $18.9k | $17.01 |
| − OpEx | −$4.7k | −$4.25 |
| NOI | $14.2k | $12.76 |
1,113 SF · lease $18.00/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$202.8K
$177.5K – $236.7K
NOI $14,199 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$280.3K
$245.2K – $327.0K
NOI $19,618 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Cobblestone Cafe
Cafe & Coffee Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Cobblestone Cafe — 408 S State St, Dover, DE 19901
- The Brunch n Lunch — 212 S Governors Ave, Dover, DE 19904
- Brownstone Cafe — 200 Banning St # 120, Dover, DE 19904
- McCafe — 915 S Dupont Hwy, Dover, DE 19901
- Key to Life Juice Bar — 136 W Loockerman St, Dover, DE 19901
FAQs
What type of property is this?
Coffee shop - Corner-lot brick building dating to 1750, suited for a coffee shop or specialty eatery in downtown Dover.
Where is this coffee shop located?
The property is located at 408 S State Street Dover, DE.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Corner‑lot brick building dating to 1750 in historic downtown Dover; Suitable for a coffee shop, small deli, or specialty eatery; Window A/C and wood flooring; heating systems indicated as “3”
