Versatile Commercial Property on Dupont
For Sale
Contact for pricing
5298 S Dupont Hwy, Dover, DE 19901
Warehouse, retail, and office space with highway frontage.
Property Size5,827 SF
Price / SF$266
Days on Market1336
Property Features for 5298 S Dupont Hwy
General Information
Standard status
Active
Size
5,827 SF
Class
B
Property subtype
Industrial
Zoning
BG= Business General & AR - Agricultural/ Residential
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$107,369
Building Details
Year Built
1953
Year Renovated
2009
Buildings
3
Stories
1
Tenancy
Single
Listing Agency:
Location Realty Advisors LLC
Listed By:
Chris Castagno · License #DE RB -0020139
Source:
Crexi
Added: Dec 12, 2022
Changed: Aug 8
Last Checked: May 19 at 9:41PM
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 Location Realty Advisors LLC
Investment Insights
Based on property information with market context.
This commercial property, located just south of Dover on Route 13 Dupont Highway, offers a versatile space suitable for warehouse, retail, or office use. The property benefits from high visibility with approximately 30,000 vehicles per day on this section of Dupont Highway. Situated in central Delaware, the location provides excellent highway frontage. The property includes a fenced lot suitable for outdoor storage, along with some woodland areas. The building size is 5,827 square feet.
Key Highlights
- High‑traffic location on Rt. 13 Dupont Highway (~30k VPD)
- Versatile property: Warehouse, Retail, Office with Residential or more Office potential
- Central Delaware location
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
$80,380
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
5.19%
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%
$1,607,600
$1.6M
Cap Rate 7%
$1,148,286
$1.1M
Cap Rate 9%
$893,111
$893.1K
Market Conditions
NOI Build-Up for 5,827 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
$96.5K $16.56/SF
− Vacancy
−$1.9K −$0.33/SF
EGI
$94.6K $16.23/SF
− OpEx
−$14.2K −$2.43/SF
NOI
$80.4K $13.79/SF
Area
Kent County, DE
Vacancy
2.00%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
15.00%
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%
$1,607,600
Cap Rate 7%
$1,148,286
Cap Rate 9%
$893,111
Alternative Uses
Best Use
Warehouse
$1.15M
$1.00M – $1.34M
NOI $80,380 @ 7.0% cap · market cap 5.19%
Second Best
Office B
$1.13M
$989.4K – $1.32M
NOI $79,153 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,709 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19901, DE
36,839
Population
15,443
Households
2.4
Avg Household Size
34
Median Age
27%
College-Educated
89%
High-School Grad
75.8 sq mi
ZIP Area
486
Density / Sq Mi
$63,891
Median Household Income
$33,069
Median Earnings
$1,353
Median Rent
$258,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Woodside Mini Storage — 1685 Main St, Woodside, DE 19980
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse, retail, and office space with highway frontage.
Where is this warehouse located?
The property is located at 5298 S Dupont Hwy Dover, DE.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: High‑traffic location on Rt. 13 Dupont Highway (~30k VPD); Versatile property: Warehouse, Retail, Office with Residential or more Office potential; Central Delaware location
