Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Income-Producing Condo Units For Sale Title is generated by Realmo AI

    44 COURTSIDE DRIVE, Dover, DE 19904

    View on Map
    Claim this Listing
    For Sale
    $689,900

    Five condo units with tenants, professionally managed, generating annual income.

    Type:Commercial/Industrial
    Added:
    Mar 11, 2026
    Days on Market:
    79
    Last Refresh:
    Apr 6 at 4:03 am

    Property Features for 44 COURTSIDE DRIVE

    General Information

    Standard status
    Active
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Joshua Mast

    Listing agent Joshua Mast License #RB-0031372

    Listing office HomeSource Pro Real Estate

    Listing date Mar 11, 2026

    Source Exitrealty

    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 HomeSource Pro Real Estate

    HighLights

    • Strong Cash Flow: Generating $72,600 in annual rental income.
    • Multiple Units: Includes 5 individually deeded condo units.
    • Professionally Managed: Ensures smooth operations and tenant relations.
    • Tenant Occupied: All units have performing tenants in place.
    • Desirable Amenities: Features a swimming pool and gym.
    • Comprehensive Condo Fees: Covers parking, maintenance, amenities, trash, water/sewer, central heat, and exterior maintenance.

    Overview

    This is a cash flow opportunity featuring five individually deeded condominium units, each situated in different buildings. The units are currently occupied by tenants and professionally managed, generating income. The property includes two units with three bedrooms and two bathrooms, and three units with two bedrooms and one and a half bathrooms. The current annual rental income totals $72,600. Community amenities include a swimming pool, gym, and on-site parking. Condo fees cover parking, common area maintenance, amenities, trash disposal, water and sewer services, central heating, and exterior building maintenance.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dover
    County
    Kent
    State
    Delaware
    Longitude
    -75.562
    Latitude
    39.159

    Nearby Similar for Sale

    • $655,000

      Turnkey Retail Business Opportunity

      Established vape business with loyal customer base and growth potential.
      First State Vape LLC 470 N DUPONT HWY, DOVER, DE 19901
      View Details
    • $339,900

      Dover Office Condo For Sale

      Office condo in a medical community, suitable for medical/non-medical use.
      642 S QUEEN Street, DOVER, DE 19901
      View Details
    • $875,000

      Dover Commercial Sale Opportunity

      Three-building parcel with road frontage, suitable for medical office.
      896 S STATE Street, DOVER, DE 19901
      View Details
    • $299,999

      Historic Building in Downtown Dover

      Charming building ideal for coffee shop or specialty eatery.
      408 S STATE Street, DOVER, DE 19901
      View Details
    • $1,200,000
      7,030 SF

      Turnkey Multifamily Investment Property

      Nine-unit multifamily property in Dover with strong in-place income.
      26 S STATE Street, DOVER, DE 19901
      View Details
    • $165,000
      2,070 SF

      Dover Office Condominium For Sale

      Two-unit office condominium with income potential in Dover, DE.
      383 W NORTH Street, DOVER, DE 19904
      View Details
    • $585,000

      Retail Space on Forrest Avenue

      One-acre retail space suitable for fast food or medical development.
      1244 FORREST Avenue, DOVER, DE 19904
      View Details
    • $425,000

      Dover Commercial Properties For Sale

      Two commercial properties in Dover with redevelopment potential.
      222 RAILROAD Ave, Dover, DE 19904
      View Details
    • $2,850,000
      11,100 SF

      Commercial Property on DuPont Highway

      Commercial property with redevelopment potential on a high-traffic corridor.
      1580 S DUPONT Hwy, Dover, DE 19901
      View Details
    • $2,900,000

      Dover Retail Investment Opportunity

      NNN investment property anchored by Pizza Hut in Dover, DE.
      515 S DUPONT Highway, DOVER, DE 19901
      View Details
    • $650,000
      875 SF

      Versatile Commercial Property with Remodeled Home

      Commercial property featuring a remodeled home and spacious attached garage.
      885 DOVER LEIPSIC Rd, Dover, DE 19901
      View Details
    • $620,000

      Historical Buildings in Downtown Dover

      Two historical buildings joined as one on an acre.
      419 S STATE STREET, DOVER, DE 19901
      View Details

    FAQs

    What type of property is this?
    Apartment building - Five condo units with tenants, professionally managed, generating annual income.
    Where is this apartment building located?
    The property is located at 44 COURTSIDE DRIVE Dover, DE.
    What is the asking price?
    The asking price for this property is $689,900.
    What are key features of this property?
    This property features: Strong Cash Flow: Generating $72,600 in annual rental income.; Multiple Units: Includes 5 individually deeded condo units.; Professionally Managed: Ensures smooth operations and tenant relations.
    (443) 454-1470
    We can help!
    Listing Contact
    Joshua Mast
    Real Estate License ID: RB-0031372
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    44 COURTSIDE DRIVE, DOVER, DE 19904
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!