Mixed-Use Building in Historic
For Sale
$570,000
Delaware City, DE 19706, Delaware City, DE 19706
Live/work property with income potential in Delaware City's historic district.
Property Size4,096 SF
Lot Size0.11 Acres
Price / SF$139.16
Days on Market208
Property Features
General Information
Standard status
Active
Size
4,096 SF
Lot size
0.11 Acres
Property subtype
Industrial
Building Details
Building Size
4,096 SF
Year Built
2002
Listing Agency:
(302) 414-1000
Listed By:
Sean McNeice
(302) 414-1000
Source:
Corfac
Added: Jan 26
Changed: Aug 10
Last Checked: Aug 22 at 3:47AM
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 Sean McNeice
Investment Insights
Based on property information with market context.
This 4,096 square foot mixed-use commercial building is located in the historic district of Delaware City, situated on approximately 0.11 acres. The property offers a live/work setup, with the upper level presenting the opportunity to be transformed into an open, creative loft-style apartment. This space is suited for artists, designers, or entrepreneurs seeking an inspiring live-in workspace. The ground floor features a flexible open-concept area, suitable for retail, office, studio, or service-based businesses. The rear portion of the building is occupied by a tenant with approximately three years remaining on their lease, generating rental income. The tenant occupies approximately 725 square feet and operates a glass blowing business. The property benefits from its location near Fort Delaware State Park ferry launch and other local attractions, which contributes to foot traffic and tourism. The property is located in Delaware City, DE 19706.
Key Highlights
- Mixed‑use commercial building with live/work potential in historic Delaware City.
- Immediate rental income from established tenant with 3 years remaining on lease ($1,100/month).
- Upper level offers opportunity to create a loft‑style apartment.
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
$41,742
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
7.32%
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%
$834,840
$834.8K
Cap Rate 7%
$596,314
$596.3K
Cap Rate 9%
$463,800
$463.8K
Market Conditions
NOI Build-Up for 4,096 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
$77.7K $18.96/SF
− Vacancy
−$10.9K −$2.65/SF
EGI
$66.8K $16.31/SF
− OpEx
−$25.0K −$6.11/SF
NOI
$41.7K $10.19/SF
Area
New Castle County, DE
Vacancy
14.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
37.50%
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%
$834,840
Cap Rate 7%
$596,314
Cap Rate 9%
$463,800
Alternative Uses
Best Use
Office B
$797.0K
$697.4K – $929.8K
NOI $55,790 @ 7.0% cap · market cap 9.79%
Second Best
Mixed Use
$596.3K
$521.8K – $695.7K
NOI $41,742 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$979.7K
$857.3K – $1.14M
NOI $68,581 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 19706, DE
1,938
Population
774
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
2.5 sq mi
ZIP Area
775
Density / Sq Mi
$77,143
Median Household Income
$48,929
Median Earnings
$1,420
Median Rent
$244,600
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?
Live-work space - Live/work property with income potential in Delaware City's historic district.
Where is this live-work space located?
The property is located at Delaware City, DE.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Mixed‑use commercial building with live/work potential in historic Delaware City.; Immediate rental income from established tenant with 3 years remaining on lease ($1,100/month).; Upper level offers opportunity to create a loft‑style apartment.
