Automotive Retail Site with
For Sale
$2,200,000
772-780 Pulaski Highway, Bear, DE 19701
Two-building roadside property with an open showroom layout, suited for automotive and customer-facing service businesses.
Property Size6,799 SF
Lot Size1.86 Acres
Price / SF$323.58
Days on Market48
Property Features for 772-780 Pulaski Highway
General Information
Standard status
Active
Size
6,799 SF
Lot size
1.86 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Building Size
6,799 SF
Year Built
1940
Listing Agency:
LMT Commercial Realty / CORFAC International
(302) 414-1000
Listed By:
Joseph Latina, SIOR · License #RS-0025429
(302) 414-1000
Source:
Lmtcre
Added: Jun 25
Changed: Aug 11
Last Checked: Aug 11 at 5:28AM
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 LMT Commercial Realty / CORFAC International
Investment Insights
Based on property information with market context.
The property for sale at 772–780 Pulaski Highway includes two buildings totaling 6,799 +/- SF on 1.86 +/- acres. The primary 4,639 +/- SF freestanding building features an open showroom layout designed for customer-facing display and sales floor use. A second 2,160 +/- SF freestanding building is currently operating as a car dealership.
The site is positioned along busy Route 40 in Bear, providing strong daily traffic counts and high visibility. The property also offers prominent signage opportunities and ample outdoor space for businesses that rely on indoor/outdoor display, customer traffic, and convenient access. The remarks note easy access to Route 1 and I-95 and the surrounding communities.
With its flexible showroom and dealership configurations, this property may work well for automotive-related operators and retailers that need both an indoor sales environment and outdoor display area. Investors and owner-users should evaluate the site’s two-building setup for accommodating multiple uses, tenant splitting, or continued automotive operations, while taking advantage of the customer-facing roadside presence.
The site is positioned along busy Route 40 in Bear, providing strong daily traffic counts and high visibility. The property also offers prominent signage opportunities and ample outdoor space for businesses that rely on indoor/outdoor display, customer traffic, and convenient access. The remarks note easy access to Route 1 and I-95 and the surrounding communities.
With its flexible showroom and dealership configurations, this property may work well for automotive-related operators and retailers that need both an indoor sales environment and outdoor display area. Investors and owner-users should evaluate the site’s two-building setup for accommodating multiple uses, tenant splitting, or continued automotive operations, while taking advantage of the customer-facing roadside presence.
Key Highlights
- Two‑building roadside commercial property on busy Route 40 in Bear
- 1.86 +/− acres with ample outdoor space and plenty of parking
- 4,639 +/− SF freestanding building with an open showroom layout
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
$65,821
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
2.99%
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%
$1,316,420
$1.3M
Cap Rate 7%
$940,300
$940.3K
Cap Rate 9%
$731,344
$731.3K
Market Conditions
NOI Build-Up for 6,799 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
$102.0K $15.00/SF
− Vacancy
−$8.0K −$1.17/SF
EGI
$94.0K $13.83/SF
− OpEx
−$28.2K −$4.15/SF
NOI
$65.8K $9.68/SF
Area
New Castle County, DE
Vacancy
7.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,316,420
Cap Rate 7%
$940,300
Cap Rate 9%
$731,344
Alternative Uses
Best Use
Retail
$940.3K
$822.8K – $1.10M
NOI $65,821 @ 7.0% cap · market cap 2.99%
Second Best
Industrial
$547.7K
$479.2K – $638.9K
NOI $38,336 @ 7.0% cap · market cap 1.74%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,838 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
58k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 27%
Hotels & Casinos 3%
Electronics 1%
Texas Roadhouse
Dining
33,761 visits/mo
0.4 miles
Shell
Shops & Services
11,594 visits/mo
0.3 miles
Domino's Pizza
Dining
6,032 visits/mo
0.1 miles
AutoZone
Shops & Services
3,823 visits/mo
0.5 miles
Best Western Plus Newark/Christiana Inn
Hotels & Casinos
1,660 visits/mo
0.4 miles
Demographics for 19701, DE
42,717
Population
17,368
Households
2.5
Avg Household Size
41
Median Age
35%
College-Educated
92%
High-School Grad
26.6 sq mi
ZIP Area
1,606
Density / Sq Mi
$107,856
Median Household Income
$56,431
Median Earnings
$1,732
Median Rent
$337,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lowe's Home Improvement — 1030 E Songsmith Dr, Bear, DE 19701
Frequently Asked Questions
What type of property is this?
Showroom - Two-building roadside property with an open showroom layout, suited for automotive and customer-facing service businesses.
Where is this showroom located?
The property is located at 772-780 Pulaski Highway Bear, DE.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two‑building roadside commercial property on busy Route 40 in Bear; 1.86 +/− acres with ample outdoor space and plenty of parking; 4,639 +/− SF freestanding building with an open showroom layout
