Three-Level Office
New
For Sale
$500,000
5207 WOODMILL DRIVE, Wilmington, DE 19808
Vacant professional office condominium with central air, on-site parking, and access to major transportation routes.
Property Size2,936 SF
Price / SF$170.30
Days on Market5
Property Features for 5207 WOODMILL DRIVE
General Information
Standard status
Active
Size
2,936 SF
Property subtype
Office
Additional Details
Floor
Main, Upper, Basement
Highway Access
Yes
Amenities
Central Air
3
Parking.
Public, Lot.
Building Details
Year Built
1988
Listing Agency:
Patterson-Schwartz-Hockessin
(302) 239-3000
Listed By:
Kenneth DiAmbrosio · License #R30019673
(302) 388-9802
Source:
Xome
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 1 at 9:56PM
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 Patterson-Schwartz-Hockessin
Investment Insights
Based on property information with market context.
This office condominium provides approximately 2,936 square feet across three levels: a main floor, upper level, and basement. The vacant unit has been freshly painted and features recently cleaned carpeting, central air, and on-site parking. Built in 1988, it is positioned within Woodmill Corporate Center at 5207 Woodmill Drive in Wilmington.
The property sits just off Kirkwood Highway, with nearby restaurants and convenient connections to major transportation routes. Its multi-level configuration and professional setting support a range of office-oriented operations, including professional, medical, consulting, and service businesses.
The property sits just off Kirkwood Highway, with nearby restaurants and convenient connections to major transportation routes. Its multi-level configuration and professional setting support a range of office-oriented operations, including professional, medical, consulting, and service businesses.
Key Highlights
- Approximately 2,936 square feet of office space
- Three‑level layout with main floor, upstairs, and basement
- Vacant unit with fresh paint and recently cleaned carpets
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
$39,990
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
8.00%
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%
$799,800
$799.8K
Cap Rate 7%
$571,286
$571.3K
Cap Rate 9%
$444,333
$444.3K
Market Conditions
NOI Build-Up for 2,936 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
$66.2K $22.56/SF
− Vacancy
−$12.9K −$4.40/SF
EGI
$53.3K $18.16/SF
− OpEx
−$13.3K −$4.54/SF
NOI
$40.0K $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%
$799,800
Cap Rate 7%
$571,286
Cap Rate 9%
$444,333
Alternative Uses
Best Use
Office B
$571.3K
$499.9K – $666.5K
NOI $39,990 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$702.3K
$614.5K – $819.3K
NOI $49,159 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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 - Vacant professional office condominium with central air, on-site parking, and access to major transportation routes.
Where is this office units located?
The property is located at 5207 WOODMILL DRIVE Wilmington, DE.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Approximately 2,936 square feet of office space; Three‑level layout with main floor, upstairs, and basement; Vacant unit with fresh paint and recently cleaned carpets
