End-Unit Office
New
For Sale
$745,000
5201 W WOODMILL DR #31 31, Wilmington, DE 19808
Professional office condominium with flexible floor plans, on-site parking, and access to major transportation routes.
Property Size3,450 SF
Price / SF$215.94
Days on Market2
Property Features for 5201 W WOODMILL DR #31 31
General Information
Standard status
Active
Size
3,450 SF
Additional Details
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
RE/MAX Associates - Newark
(302) 453-3200
Listed By:
Daniel Mawn · License #RS-0024255
(302) 396-4079
Source:
Imanirealtors
Added: Sep 4
Last Checked: Sep 4 at 2:50PM
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
Investment Insights
Based on property information with market context.
This approximately 3,450-square-foot end-unit office condominium is part of Woodmill Corporate Center, an established professional office community. The property is configured for business use, with flexible planning that can accommodate reception and waiting areas, private offices, conference space, kitchen facilities, storage, and private restrooms. Multiple office condominium units are being offered for sale, with individual specifications varying by unit.
The property is located just off Kirkwood Highway in Wilmington, with convenient access to major transportation routes, nearby restaurants, and on-site parking. Several available units are occupied under existing lease agreements, making occupancy and lease details relevant to evaluating individual offerings. Additional units at 5145, 5149, 5201, and 5205 W Woodmill Drive are also available for sale.
The property is located just off Kirkwood Highway in Wilmington, with convenient access to major transportation routes, nearby restaurants, and on-site parking. Several available units are occupied under existing lease agreements, making occupancy and lease details relevant to evaluating individual offerings. Additional units at 5145, 5149, 5201, and 5205 W Woodmill Drive are also available for sale.
Key Highlights
- Approximately 3,450‑square‑foot end‑unit office condominium
- Flexible office layouts with private offices and conference space
- Reception, waiting, kitchen, storage, and private restroom areas offered in many units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,991
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$939,820
$939.8K
Cap Rate 7%
$671,300
$671.3K
Cap Rate 9%
$522,122
$522.1K
Market Conditions
NOI Build-Up for 3,450 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.8K $22.56/SF
− Vacancy
−$15.2K −$4.40/SF
EGI
$62.7K $18.16/SF
− OpEx
−$15.7K −$4.54/SF
NOI
$47.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$939,820
Cap Rate 7%
$671,300
Cap Rate 9%
$522,122
Alternative Uses
Best Use
Office B
$671.3K
$587.4K – $783.2K
NOI $46,991 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$825.2K
$722.1K – $962.8K
NOI $57,765 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional office condominium with flexible floor plans, on-site parking, and access to major transportation routes.
Where is this office units located?
The property is located at 5201 W WOODMILL DR #31 31 Wilmington, DE.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Approximately 3,450‑square‑foot end‑unit office condominium; Flexible office layouts with private offices and conference space; Reception, waiting, kitchen, storage, and private restroom areas offered in many units
