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    305-307 State St Dover, DE 19901

    Sponsored
    For Sale
    $460,000

    Prime Dover location, multifamily & office.

    Property size:
    1,450 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 305-307 S State St in Dover, Delaware (zip code 19901), presents a unique investment opportunity. The building, zoned RGO, offers a versatile layout encompassing approximately 1,652 square feet of executive office space on the first floor, and a 1,452 square foot apartment on the second floor. The basement, while unfinished, provides approximately 1,450 square feet of valuable storage space. The total square footage of the building ranges from 1,450 to 1,652 square feet, depending on the inclusion of the basement. This prime downtown Dover location offers excellent visibility and accessibility. The asking price for this property is $460,000. This presents a compelling opportunity for investors seeking a blend of income-generating office space and residential rental potential in a thriving Delaware market. The property's zoning allows for a variety of uses, making it an adaptable asset for future development or continued operation in its current configuration. Serious inquiries are encouraged.

    Property Features for 305-307 State St

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,450 SF

    HighLights

    • $460,000 asking price.
    • Multifamily property with executive office and apartment building components.
    • 1,450 - 1,652 square feet total building area.
    • RGO zoning.
    • Prime downtown Dover location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dover
    County
    Kent
    State
    Delaware
    Longitude
    -75.5238258
    Latitude
    39.1571239

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    FAQs

    What type of property is this?
    Multifamily property - Prime Dover location, multifamily & office.
    Where is this multifamily property located?
    The property is located at 305-307 State St Dover, DE.
    What is the asking price?
    The asking price for this property is $460,000.
    What are key features of this property?
    This property features: $460,000 asking price.; Multifamily property with executive office and apartment building components.; 1,450 - 1,652 square feet total building area.
    Request Owner's contact information
    305-307 State St Dover, DE 19901
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    Dover, DE 19901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    305-307 State St Dover, DE 19901
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