Professional Office Space For
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300 Health Services Dr, Seaford, DE 19973
6,600 SF fully leased office space with income potential.
Property Size6,600 SF
Price / SF$196.82
Days on Market1343
Property Features for 300 Health Services Dr
General Information
Standard status
Active
Size
6,600 SF
Class
A
Property subtype
Office
Zoning
TN
Occupancy
90%
Lease Type
NNN
Building Details
Year Built
2010
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
R&R Commercial Realty
Listed By:
Keith Walpole · License #DE RS-0014425
(302) 674-3400
Source:
Crexi
Added: Dec 30, 2022
Changed: Aug 31
Last Checked: Sep 2 at 11:25PM
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 R&R Commercial Realty
Investment Insights
Based on property information with market context.
This exceptional real estate listing features 6,600 square feet of professional office space for sale, providing immediate income potential. The property is fully leased and handicap accessible, ensuring inclusivity and convenience for all employees, clients, and visitors. Generous on-site parking adds to the accessibility and ease of use. A large pylon offers excellent visibility and a prominent presence. The owner is willing to consider owner financing for a qualified buyer. Unit 302 has been freshly painted and professionally cleaned.
Key Highlights
- Fully Leased: Immediate income potential.
- Owner Financing: Owner willing to consider financing for qualified buyer.
- Sizeable Space: 6,600 square feet of professional office space.
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
$103,600
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
7.98%
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%
$2,072,000
$2.1M
Cap Rate 7%
$1,480,000
$1.5M
Cap Rate 9%
$1,151,111
$1.2M
Market Conditions
NOI Build-Up for 6,600 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
$169.5K $25.68/SF
− Vacancy
−$31.4K −$4.75/SF
EGI
$138.1K $20.93/SF
− OpEx
−$34.5K −$5.23/SF
NOI
$103.6K $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%
$2,072,000
Cap Rate 7%
$1,480,000
Cap Rate 9%
$1,151,111
Alternative Uses
Best Use
Office B
$1.48M
$1.30M – $1.73M
NOI $103,600 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,958 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 19973, DE
25,550
Population
10,725
Households
2.4
Avg Household Size
42
Median Age
18%
College-Educated
84%
High-School Grad
84.0 sq mi
ZIP Area
304
Density / Sq Mi
$62,668
Median Household Income
$36,439
Median Earnings
$1,131
Median Rent
$254,300
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 building - 6,600 SF fully leased office space with income potential.
Where is this office building located?
The property is located at 300 Health Services Dr Seaford, DE.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Fully Leased: Immediate income potential.; Owner Financing: Owner willing to consider financing for qualified buyer.; Sizeable Space: 6,600 square feet of professional office space.
