9320 Old Racetrack Rd, Delmar, DE 19940

Building Details

Year Built 1989 More

Listing Agency: NAI Coastal

Listed By: George Timothy Merritt · License DE #0681070 Show Phone

Source: Kandorre

Added: Mar 11 Changed: Nov 10 Last Checked: Oct 7 at 1:12PM

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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 NAI Coastal

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Investment Insights

Based on property information with market context.

This 4.66-acre property is zoned Light Industrial (LI-2) and includes a 6,000 sq ft warehouse. The warehouse is equipped with four 14'x14' roll-up doors and individual access doors. The property offers options to occupy the entire space or lease out portions for income. The current owners are pursuing permits to construct an additional 6,000 sq ft of warehouse space and a further 6,000 sq ft of office space on the property's street frontage. An asphalt driveway and parking lot are in place. The building benefits from new electric service including 3 phase, a new metal roof, and LED lighting. The property is located one mile from the Maryland/Delaware border and may offer tax benefits.

Key Highlights

• 4.66‑acre property zoned Light Industrial (LI‑2) offering versatile business potential.
• 6,000 sq ft warehouse with four 14'x14' roll‑up doors and individual access doors.
• Permits being pursued for an additional 6,000 sq ft warehouse and 6,000 sq ft office space.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,841

Cap Rate

3.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$796,820 $796.8K

Cap Rate 7%

$569,157 $569.2K

Cap Rate 9%

$442,678 $442.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$50.4K $8.40/SF

− Vacancy

−$3.5K −$0.59/SF

EGI

$46.9K $7.81/SF

− OpEx

−$7.0K −$1.17/SF

NOI

$39.8K $6.64/SF

Area

Sussex County, DE

Vacancy

7.00%

Lease Rate

$8.40 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$796,820

Cap Rate 7%

$569,157

Cap Rate 9%

$442,678

Alternative Uses

Best Use

Warehouse

$569.2K

$498.0K – $664.0K (±1% cap)

NOI $39,841 @ 7.0% cap · market cap 3.62%

Second Best

Industrial

$504.9K

$441.8K – $589.1K (±1% cap)

NOI $35,343 @ 7.0% cap · market cap 3.21%

Theoretical Best

Office A

$1.65M

$1.44M – $1.92M (±1% cap)

NOI $115,416 @ 7.0% cap · market cap 10.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Restaurant Dental Office Building Supply Big Box & Wholesale Store Law Firm Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

218

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 19940, DE

6,541

Population

2,711

Households

2.4

Avg Household Size

40

Median Age

22%

College-Educated

84%

High-School Grad

41.3 sq mi

ZIP Area

158

Density / Sq Mi

$63,361

Median Household Income

$48,067

Median Earnings

$938

Median Rent

$225,700

Median Home Value

Market

Average Price Trend$/SF for Warehouses in Sussex County, DE

$373 Jul

$403 Aug

$200 Sep

$160 Oct

Properties on Market for Warehouses in Sussex County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• Partners Self Storage — 500 N Pennsylvania Ave, Delmar, DE 19940

Frequently Asked Questions

What type of property is this?

Warehouse - 4.66-acre property with 6,000 sq ft warehouse for sale.

Where is this warehouse located?

The property is located at 9320 Old Racetrack Rd Delmar, DE.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: 4.66‑acre property zoned Light Industrial (LI‑2) offering versatile business potential.; 6,000 sq ft warehouse with **four 14'x14' roll‑up doors** and individual access doors.; Permits being pursued for an additional 6,000 sq ft warehouse and 6,000 sq ft office space.