Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Office or Retail Space Title is generated by Realmo AI

    501 N Bi State Blvd, Delmar, DE 19940

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,800/Mo $12 SF/Yr (calc)

    Newly renovated 1800 sq ft office/retail space with parking.

    Type:Retail
    Property size:
    1,800 SF
    Added:
    Mar 6, 2026
    Days on Market:
    76
    Last Refresh:
    Apr 5 at 10:24 pm

    Property Features for 501 N Bi State Blvd

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Property subtype
    Retail

    Spaces For Lease

    at 501 N Bi State Blvd Contact us

    We can help!

    Listing Contact
    George Merritt
    George Merritt

    Listing agent George Merritt License #MD #0681070

    Listing office NAI Coastal

    Listing date Mar 6, 2026

    Source Naicoastal

    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 NAI Coastal

    HighLights

    • Newly renovated 1800 sq ft office/retail space.
    • New windows and doors (front, side, and rear).
    • Resurfaced parking lot.
    • Negotiable lease for private fenced storage.
    • Front and rear doors for easy access.
    • Full exterior repaint.

    Overview

    This building is undergoing a complete renovation, and the center unit is available as an office or retail space. It offers approximately 1800 square feet with front and rear doors. Windows, office spaces, and restrooms are being created. New windows are being installed in the front, along with double doors on the front and side, and a new rear door. The parking lot has been cleared and resurfaced. Portions of the lot can be negotiated for private fenced storage. The exterior has been fully repainted. An additional lot is available for parking, and a lease for private storage is negotiable.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Loakal Branch Production Facility 3rd Wave Brewing ... Production Facility Loakal Branch Brewing ... Production Facility LibertyX Bitcoin ATM Atm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Delmar
    County
    Sussex
    State
    Delaware
    Longitude
    -75.5743553
    Latitude
    38.4607635

    Nearby Similar for Lease

    • $1,800/Mo
      1,800 SF

      Renovated Office or Retail Space

      Newly renovated 1800 sq ft office or retail space.
      501 N Bi State Blvd, Delmar, DE 19940
      View Details
    • $10 SF/Yr
      6,000 SF

      Versatile Warehouse Space For Lease

      4.66-acre property with 6,000 sq ft warehouse for lease.
      9320 Old Racetrack Rd, Delmar, DE 19940
      View Details
    • $2,500/Mo
      1,500 SF

      Turn-Key Ready Office/Retail Space

      Prime location on Route 13, Delmar, DE. High visibility.
      31010 Thornton Blvd, Delmar, DE
      View Details
    • Contact for pricing

      Commercial Warehouse Unit For Lease

      Secure, gated warehouse unit with 24/7 access and private bathroom.
      38377 E OLD STAGE Rd, Delmar, DE 19940
      View Details

    FAQs

    What type of property is this?
    Retail space - Newly renovated 1800 sq ft office/retail space with parking.
    Where is this retail space located?
    The property is located at 501 N Bi State Blvd Delmar, DE.
    What is the lease rate?
    The lease rate is $1,800 /Mo.
    What are key features of this property?
    This property features: Newly renovated 1800 sq ft office/retail space.; New windows and doors (front, side, and rear).; Resurfaced parking lot.
    (410) 543-5115
    We can help!
    Listing Contact
    George Merritt
    George Merritt
    Real Estate License ID: MD #0681070
    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
    501 N Bi State Blvd, Delmar, DE 19940
    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!