Professional Office
New
For Sale
$675,000
5205 W Woodmill Dr Unit 32, Wilmington, DE 19808
Established office setting with flexible layouts, private work areas, conference space, kitchen facilities, storage, and restrooms.
Property Size3,119 SF
Price / SF$216.42
Days on Market2
Property Features for 5205 W Woodmill Dr Unit 32
General Information
Standard status
Active
Size
3,119 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1988
Tenancy
Multi
Listing Agency:
RE/MAX Associates - Newark
Listed By:
Daniel Mawn · License #RS-0024255
(302) 396-4079
Source:
Diamondhomesteam
Added: Sep 4
Last Checked: Sep 4 at 3:14PM
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 office condominium offering is located at 5205 W Woodmill Dr Unit 32 within Woodmill Corporate Center. The center dates to 1988 and includes office configurations designed for professional use, with layouts that may include reception areas, private offices, conference rooms, kitchens, storage, and private restrooms.
The property sits just off Kirkwood Highway, with access to major transportation routes, nearby restaurants, and on-site parking. Multiple units are being offered across the corporate center, and some may remain occupied under existing lease agreements. Available unit details and occupancy conditions vary by suite.
The property sits just off Kirkwood Highway, with access to major transportation routes, nearby restaurants, and on-site parking. Multiple units are being offered across the corporate center, and some may remain occupied under existing lease agreements. Available unit details and occupancy conditions vary by suite.
Key Highlights
- Office condominium at 5205 W Woodmill Dr Unit 32
- Woodmill Corporate Center was built in 1988
- Just off Kirkwood Highway with access to major transportation routes
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
$42,483
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
6.29%
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%
$849,660
$849.7K
Cap Rate 7%
$606,900
$606.9K
Cap Rate 9%
$472,033
$472.0K
Market Conditions
NOI Build-Up for 3,119 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
$70.4K $22.56/SF
− Vacancy
−$13.7K −$4.40/SF
EGI
$56.6K $18.16/SF
− OpEx
−$14.2K −$4.54/SF
NOI
$42.5K $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%
$849,660
Cap Rate 7%
$606,900
Cap Rate 9%
$472,033
Alternative Uses
Best Use
Office B
$606.9K
$531.0K – $708.1K
NOI $42,483 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$746.0K
$652.8K – $870.4K
NOI $52,223 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
658
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 - Established office setting with flexible layouts, private work areas, conference space, kitchen facilities, storage, and restrooms.
Where is this office units located?
The property is located at 5205 W Woodmill Dr Unit 32 Wilmington, DE.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Office condominium at 5205 W Woodmill Dr Unit 32; Woodmill Corporate Center was built in 1988; Just off Kirkwood Highway with access to major transportation routes
