Professional Office
For Sale
$675,000
5205 WOODMILL DRIVE, Wilmington, DE 19808
Office condominium in an established business park with central air, carpeted interiors, and on-site parking.
Property Size3,119 SF
Price / SF$216.42
Days on Market11
Property Features for 5205 WOODMILL DRIVE
General Information
Standard status
Active
Size
3,119 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$1,868
Amenities
Central Air
Carpet
Shingle
Parking.
Lot.
Business Park, US Highway.
Building Details
Year Built
1988
Listing Agency:
(302) 396-4079
Listed By:
Newark
(302) 396-4079
Source:
Xome
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 31 at 1:22PM
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 Newark
Investment Insights
Based on property information with market context.
This professional office condominium contains 3,119 square feet within the Woodmill Corporate Center. The suite includes central air and carpeted interior finishes, with on-site parking serving the office community. The property was built in 1988 and is configured for professional business use.
Located at 5205 Woodmill Drive in Wilmington, Delaware, the office is positioned within a business park near restaurants and US Highway access. Woodmill Corporate Center is an established office community with convenient connections to major transportation routes. The property is offered for sale, and additional unit-specific details may vary among available office condominiums in the center.
Located at 5205 Woodmill Drive in Wilmington, Delaware, the office is positioned within a business park near restaurants and US Highway access. Woodmill Corporate Center is an established office community with convenient connections to major transportation routes. The property is offered for sale, and additional unit-specific details may vary among available office condominiums in the center.
Key Highlights
- 3,119‑square‑foot office condominium
- Located within Woodmill Corporate Center business park
- Central air conditioning
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
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 - Office condominium in an established business park with central air, carpeted interiors, and on-site parking.
Where is this office units located?
The property is located at 5205 WOODMILL DRIVE 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: 3,119‑square‑foot office condominium; Located within Woodmill Corporate Center business park; Central air conditioning
