Highway Retail Space For
For Sale
$480,000
8977 DUPONT Blvd, Lincoln, DE 19960
Retail space on 0.69 acres with highway frontage.
Property Size3,300 SF
Lot Size0.69 Acres
Price / SF$145.45
Days on Market164
Property Features for 8977 DUPONT Blvd
General Information
Standard status
Active
Size
3,300 SF
Lot size
0.69 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$639
Building Details
Year Built
2015
Units
1
Listing Agency:
Keller Williams Realty
(302) 632-7407
Listed By:
Thomas Lucks · License #(DE)RA-0020851
(302) 632-7407
Source:
Elliman
Added: Mar 12
Changed: Aug 15
Last Checked: Aug 21 at 9:47AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This retail space is located in a prime highway location on 0.69 acres. The property backs up to 160 acres of farm field and features 200 feet of road frontage and a depth of 150 feet. The building is currently under lease at $42,000 per year. Considering its condition, location, age, and accessibility, this is considered a Class-B commercial building, needing very minor modifications to make it a Class-A facility. It has a DelDot commercial approved entry with heavy duty under structure for large load capacity. The 2022 AADT is 22,000+. The property includes 220VAC 3Phase power, heat pumps, and two large rollup doors with level roll-in capacity. It is ADA compliant and features an extremely large walk-in freezer and refrigerator, as well as an extra-large capacity septic for future expansion. The building has a slab foundation, metal roof, extra interior, above floor, storage, and overhead lighting. There is plenty of parking for autos and delivery trucks, including other abled parking with ADA accessible shop entry. The property is zoned AR-1 with conditional use (former deli.) There is no land lease, and the taxes are approximately $640 annually. It is not in municipal limits, so there is no town tax. The property is in Flood zone X, and is not in the 100 or 500 year flood zone. The building has approximately 3300 square feet of space.
Key Highlights
- Prime highway location with high traffic volume (22,000+ AADT) and 200‑foot road frontage.
- Currently under lease at $42,000 per year.
- DelDot commercial approved entry with heavy duty under structure for large load capacity.
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
$29,583
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
6.16%
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%
$591,660
$591.7K
Cap Rate 7%
$422,614
$422.6K
Cap Rate 9%
$328,700
$328.7K
Market Conditions
NOI Build-Up for 3,300 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
$45.5K $13.80/SF
− Vacancy
−$3.3K −$0.99/SF
EGI
$42.3K $12.81/SF
− OpEx
−$12.7K −$3.84/SF
NOI
$29.6K $8.96/SF
Area
Sussex County, DE
Vacancy
7.20%
Lease Rate
$13.80 /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%
$591,660
Cap Rate 7%
$422,614
Cap Rate 9%
$328,700
Alternative Uses
Best Use
Retail
$422.6K
$369.8K – $493.1K
NOI $29,583 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$906.8K
$793.5K – $1.06M
NOI $63,479 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 19960, DE
7,121
Population
2,509
Households
2.8
Avg Household Size
40
Median Age
14%
College-Educated
88%
High-School Grad
30.3 sq mi
ZIP Area
235
Density / Sq Mi
$66,929
Median Household Income
$29,651
Median Earnings
$1,306
Median Rent
$276,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space on 0.69 acres with highway frontage.
Where is this retail space located?
The property is located at 8977 DUPONT Blvd Lincoln, DE.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Prime highway location with **high traffic volume (22,000+ AADT) and 200‑foot road frontage.**; Currently under lease at $42,000 per year.; DelDot commercial approved entry with **heavy duty under structure for large load capacity.**
