Building Details

Building Size 7,540 SF

Year Built 1940

Buildings 1

Listed By: Joseph Latina, SIOR Show Phone

Source: Lmtcre

Added: Oct 1 Last Checked: Oct 5 at 4:06PM

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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 Joseph Latina, SIOR

Investment Insights

Based on property information with market context.

This 7,540 +/- SF flex building combines finished, air-conditioned office space with warehouse and storage areas. The property was renovated and includes a fenced outdoor lot, two drive-in doors, and one garage door. It is zoned I (Industrial – New Castle County).

Located in New Castle County, the property offers access to I-95 and Route 202, as well as the Wilmington business corridor. It is within the New Castle County property tax area.

Key Highlights

• 7,540 +/- SF flex building
• I (Industrial – New Castle County) zoning
• Finished, air‑conditioned office space with warehouse and storage areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,571

Cap Rate

5.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,431,420 $1.4M

Cap Rate 7%

$1,022,443 $1.0M

Cap Rate 9%

$795,233 $795.2K

Market Conditions

NOI Build-Up for 7,540 SF

Gross rent

$120.3K $15.96/SF

− Vacancy

−$10.2K −$1.36/SF

EGI

$110.1K $14.60/SF

− OpEx

−$38.5K −$5.11/SF

NOI

$71.6K $9.49/SF

Area

New Castle County, DE

Vacancy

8.50%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,431,420

Cap Rate 7%

$1,022,443

Cap Rate 9%

$795,233

Alternative Uses

Best Use

Flex RnD

$1.02M

$894.6K – $1.19M (±1% cap)

NOI $71,571 @ 7.0% cap · market cap 5.96%

Second Best

Warehouse

$839.0K

$734.1K – $978.8K (±1% cap)

NOI $58,727 @ 7.0% cap · market cap 4.89%

Theoretical Best

Office A

$1.80M

$1.58M – $2.10M (±1% cap)

NOI $126,245 @ 7.0% cap · market cap 10.52%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Air Freight Cargo ... Freight Service Tropic Wholesale Interior Design

Suggested Use

Top Pick Restaurant Building Supply Dental Office Big Box & Wholesale Store Auto Parts Store Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Yes

Fenced yard

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

345

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 19802, DE

26,189

Population

11,596

Households

2.3

Avg Household Size

38

Median Age

28%

College-Educated

89%

High-School Grad

3.5 sq mi

ZIP Area

7,483

Density / Sq Mi

$54,370

Median Household Income

$39,579

Median Earnings

$1,236

Median Rent

$188,400

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Finished, air-conditioned offices accompany warehouse and storage areas, with a fenced exterior lot.

Where is this flex space located?

The property is located at 4303 Miller Rd Wilmington, DE.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 7,540 +/- SF flex building; I (Industrial – New Castle County) zoning; Finished, air‑conditioned office space with warehouse and storage areas