Professional Office Condominium
5145 W WOODMILL DRIVE #22, Wilmington, DE 19808
For Sale
$325,000
Flexible office suite with reception, private offices, conference space, kitchen, storage, and private restrooms in Woodmill Corporate Center.
Property Size1,500 SF
Price / SF$216.67
Days on Market111
Property Features for 5145 W WOODMILL DRIVE #22
General Information
Standard status
Size
Property subtype
Amenities
reception and waiting areas
multiple private offices
conference space
kitchen facilities
storage areas
private restrooms
ample on-site parking
Building Details
Year Built
Listing Agency:
RE/MAX Associates - Newark
(302) 453-3200
Listed By:
Daniel Mawn · License #RS-0024255
(302) 396-4079
Source:
Cummingsrealtors
Added: Jul 20
Changed: Nov 6
Last Checked: Nov 6 at 9:07AM
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 RE/MAX Associates - Newark
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Investment Insights
Based on property information with market context.
This professional office condominium suite is located within the Woodmill Corporate Center and offers a flexible floor plan suited for productive, professional use. The approximately 1,500-square-foot layout may include reception and waiting areas, multiple private offices, conference space, kitchen facilities, storage areas, and private restrooms, with room to accommodate different office configurations.
The property sits just off Kirkwood Highway within an established office community, supported by ample on-site parking and convenient access to major transportation routes. Several units are currently occupied under existing lease agreements, so showings are limited and, when possible, scheduled after normal business hours to minimize disruption. Please note that listing photographs may have been taken while units were vacant and may not reflect current tenant occupancy, furnishings, or configurations.
Additional office condominiums at 5149, 5201, and 5205 W Woodmill Drive are also available for sale.
The property sits just off Kirkwood Highway within an established office community, supported by ample on-site parking and convenient access to major transportation routes. Several units are currently occupied under existing lease agreements, so showings are limited and, when possible, scheduled after normal business hours to minimize disruption. Please note that listing photographs may have been taken while units were vacant and may not reflect current tenant occupancy, furnishings, or configurations.
Additional office condominiums at 5149, 5201, and 5205 W Woodmill Drive are also available for sale.
Key Highlights
- Approximately 1,500 SF professional office suite in Woodmill Corporate Center (built 1988)
- Suite layout includes reception/waiting area, multiple private offices, conference space, kitchen, storage, and private restrooms
- Ample on‑site parking and convenient access to major transportation routes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,431
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,620
$408.6K
Cap Rate 7%
$291,871
$291.9K
Cap Rate 9%
$227,011
$227.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$33.8K $22.56/SF
− Vacancy
−$6.6K −$4.40/SF
EGI
$27.2K $18.16/SF
− OpEx
−$6.8K −$4.54/SF
NOI
$20.4K $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%
$408,620
Cap Rate 7%
$291,871
Cap Rate 9%
$227,011
Alternative Uses
Best Use
Office B
$291.9K
$255.4K – $340.5K
NOI $20,431 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$358.8K
$313.9K – $418.6K
NOI $25,115 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
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Business Placement
Demographics for 19808, DE
39,285
Population
16,037
Households
2.4
Avg Household Size
44
Median Age
41%
College-Educated
93%
High-School Grad
13.8 sq mi
ZIP Area
2,847
Density / Sq Mi
$92,883
Median Household Income
$53,084
Median Earnings
$1,357
Median Rent
$309,700
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Wilmington, DE
Properties on Market for Office Units in Wilmington
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible office suite with reception, private offices, conference space, kitchen, storage, and private restrooms in Woodmill Corporate Center.
Where is this office unit located?
The property is located at 5145 W WOODMILL DRIVE #22 Wilmington, DE.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Approximately 1,500 SF professional office suite in Woodmill Corporate Center (built 1988); Suite layout includes reception/waiting area, multiple private offices, conference space, kitchen, storage, and private restrooms; Ample on‑site parking and convenient access to major transportation routes
