Commercial Property on Major
For Sale
$1,250,000
8991 REDDEN Rd, Bridgeville, DE 19933
C-1 zoned commercial property on 2 acres for sale.
Property Size4,200 SF
Lot Size2.00 Acres
Price / SF$297.62
Days on Market156
Property Features for 8991 REDDEN Rd
General Information
Standard status
Active
Size
4,200 SF
Lot size
2.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,233
Building Details
Year Built
1999
Listing Agency:
Keller Williams Realty
(302) 632-7407
Listed By:
Thomas Lucks · License #(DE)RA-0020851
(302) 632-7407
Source:
Elliman
Added: Mar 10
Changed: Aug 12
Last Checked: Aug 12 at 10:24AM
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 commercial property offers an excellent opportunity with direct frontage on a major highway. The 4,200 square foot building is situated on 2 acres and is zoned C-1. Located on a major north-south corridor, the property benefits from an Average Annual Daily Traffic (AADT) count of 23,500+. The Sussex Highway frontage measures 200 feet, while the Redden Road frontage extends 410 feet. The building's layout features mirrored sides, making it suitable for multiple office businesses. The current medical and office equipment and furnishings may be included. There are five ADA-compliant restrooms and four entries, two of which are ADA compliant, with one featuring press plate power assist. The property is dual electric metered and provides ample patron parking with 20 spaces, including accessible parking slots. A large, two-door block garage is located at the rear of the main building, along with a chain-link fenced area suitable for RV parking or a stand-alone garage. The property is not located within city limits, eliminating municipal taxes; the annual county taxes are $3,200. The location is well-suited for a professional office, continued medical practice, school, or other uses. The current owner has operated from this location for over 30 years. A four-way signaled intersection enhances highway visibility and provides easy access. The complex is considered an A or B+ facility. A stormwater pond is already installed. The property includes a large 4,400-gallon sand-lined Cap & Fill septic system with risers, and a well.
Key Highlights
- High‑traffic location with 200' frontage on Sussex Highway and easy access.
- Large 4200 sq ft C‑1 zoned commercial building on 2 acres.
- Dual‑sided layout allows for owner occupancy and leasing potential.
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
$65,927
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
5.27%
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%
$1,318,540
$1.3M
Cap Rate 7%
$941,814
$941.8K
Cap Rate 9%
$732,522
$732.5K
Market Conditions
NOI Build-Up for 4,200 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
$107.9K $25.68/SF
− Vacancy
−$20.0K −$4.75/SF
EGI
$87.9K $20.93/SF
− OpEx
−$22.0K −$5.23/SF
NOI
$65.9K $15.70/SF
Area
Sussex County, DE
Vacancy
18.50%
Lease Rate
$25.68 /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%
$1,318,540
Cap Rate 7%
$941,814
Cap Rate 9%
$732,522
Alternative Uses
Best Use
Office B
$941.8K
$824.1K – $1.10M
NOI $65,927 @ 7.0% cap · market cap 5.27%
Second Best
Healthcare Medical
$846.7K
$740.9K – $987.8K
NOI $59,270 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,791 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19933, DE
9,784
Population
4,454
Households
2.2
Avg Household Size
42
Median Age
19%
College-Educated
84%
High-School Grad
67.3 sq mi
ZIP Area
145
Density / Sq Mi
$61,261
Median Household Income
$36,269
Median Earnings
$1,021
Median Rent
$231,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Western Sussex Animal Hospital Inc — 16487 Sussex Hwy, Bridgeville, DE 19933
Frequently Asked Questions
What type of property is this?
Medical Office Space - C-1 zoned commercial property on 2 acres for sale.
Where is this medical office space located?
The property is located at 8991 REDDEN Rd Bridgeville, DE.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High‑traffic location with 200' frontage on Sussex Highway and easy access.; Large 4200 sq ft C‑1 zoned commercial building on 2 acres.; Dual‑sided layout allows for owner occupancy and leasing potential.
