Historic Office Building with Flexible
For Sale
$799,900
Pending
501 MAIN STREET, Odessa, DE 19730
Office property with private rooms, shared work areas, updated systems, storage, and on-site parking.
Property Size5,300 SF
Days on Market82
Property Features for 501 MAIN STREET
General Information
Standard status
Pending
Size
5,300 SF
Property subtype
Commercial
Building Details
Year Built
1899
Buildings
1
Listing Agency:
CR Realty
(443) 988-0114
Listed By:
Candice Santoro · License #RB-0031444
(302) 584-3279
Source:
Cummingsrealtors
Added: Aug 14
Changed: Oct 31
Last Checked: Nov 1 at 4:17AM
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 CR Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1899, this office building at 501 Main Street combines a historic commercial structure with a practical professional layout. The interior includes a reception area, open workspaces, private offices, conference rooms, and substantial storage. Newer HVAC systems and a newer roof provide updated building components while retaining the property’s established character.
An approximately 1,500-square-foot walk-up attic adds significant storage capacity or potential future use, subject to buyer verification and applicable approvals. The property also offers on-site parking and exposure along Main Street in Odessa, Delaware. Its configuration supports a range of professional and commercial uses permitted under applicable requirements.
An approximately 1,500-square-foot walk-up attic adds significant storage capacity or potential future use, subject to buyer verification and applicable approvals. The property also offers on-site parking and exposure along Main Street in Odessa, Delaware. Its configuration supports a range of professional and commercial uses permitted under applicable requirements.
Key Highlights
- 1899 construction date at 501 Main Street, Odessa, DE 19730
- Approximately 1,500‑square‑foot walk‑up attic
- Newer HVAC systems and newer roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,189
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,443,780
$1.4M
Cap Rate 7%
$1,031,271
$1.0M
Cap Rate 9%
$802,100
$802.1K
Market Conditions
NOI Build-Up for 5,300 SF
Gross rent
$119.6K $22.56/SF
− Vacancy
−$23.3K −$4.40/SF
EGI
$96.3K $18.16/SF
− OpEx
−$24.1K −$4.54/SF
NOI
$72.2K $13.62/SF
Area
New Castle County, DE
Vacancy
19.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,443,780
Cap Rate 7%
$1,031,271
Cap Rate 9%
$802,100
Alternative Uses
Best Use
Office B
$1.03M
$902.4K – $1.20M
NOI $72,189 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,740 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
Business Placement
Demographics for 19730, DE
472
Population
227
Households
2.1
Avg Household Size
43
Median Age
46%
College-Educated
97%
High-School Grad
0.7 sq mi
ZIP Area
674
Density / Sq Mi
$81,927
Median Household Income
$59,208
Median Earnings
$1,344
Median Rent
$299,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office property with private rooms, shared work areas, updated systems, storage, and on-site parking.
Where is this office building located?
The property is located at 501 MAIN STREET Odessa, DE.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 1899 construction date at 501 Main Street, Odessa, DE 19730; Approximately 1,500‑square‑foot walk‑up attic; Newer HVAC systems and newer roof
