Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land on RT 113 Title is generated by Realmo AI

    0 Redden Rd, Georgetown, DE 19947

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    3-acre commercial land with high traffic for sale.

    Type:Land
    Lot size:
    3.00 Acres
    Added:
    Sep 29, 2022
    Days on Market:
    1347
    Last Refresh:
    May 19 at 8:34 pm

    Property Features for 0 Redden Rd

    General Information

    Standard status
    Active
    Lot size
    3.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Keith Walpole

    Listing agent Keith Walpole License #DE RS-0014425

    Listing office R&R Commercial Realty

    Listing date Sep 29, 2022

    Source Crexi

    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

    HighLights

    • High traffic location on RT 113 (Dupont Blvd) with 10,659 average daily traffic count.
    • Proposed site plan for a convenience store with gas pumps.
    • One of the last traffic lights North of Georgetown to Ellendale.
    • Catches traffic traveling North and South to and from beaches.
    • Approximately 3.0 +/- Acres.
    • Frontage on both RT 113 (Dupont Blvd) and Redden Rd.

    Overview

    This commercial land parcel, approximately 3.0 acres, fronts northbound Route 113 (Dupont Boulevard) and Redden Road. The location benefits from average daily traffic counts of 10,659. A proposed site plan suggests development as a convenience store with gas pumps. Situated north of Georgetown to Ellendale, this property represents one of the last available sites with traffic lights in the area. It is positioned to capture traffic traveling both north and south to and from coastal beach destinations.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Georgetown
    County
    Sussex
    State
    Delaware
    Longitude
    -75.456575
    Latitude
    38.745968

    Nearby Similar for Sale

    • $295,000

      Georgetown Church on Route 113

      Well-maintained church with redevelopment potential on 1.04 acres.
      18793 DUPONT Boulevard, GEORGETOWN, DE 19947
      View Details
    • $125,000

      Georgetown Land For Sale

      Vacant lot available in Georgetown, Delaware.
      308 FRANKLIN Street, GEORGETOWN, DE 19947
      View Details
    • $145,000

      Land in Georgetown, Delaware

      Prime land parcel for building your dream home.
      12-16 STEVENSON Lane, GEORGETOWN, DE 19947
      View Details
    • $199,000
      1,550 SF

      Versatile Commercial Building in Georgetown

      1,550 SF building with B-1 zoning for office/warehouse use.
      20303 HARDSCRABBLE Rd, Georgetown, DE 19947
      View Details
    • $1,490,000
      6,500 SF

      Georgetown Portfolio with Development Potential

      Portfolio of 5 properties with buildings and vacant land.
      106 E LAUREL St, Georgetown, DE 19947
      View Details
    • $495,000

      Poultry Farm on Route 18

      Three-house poultry farm in Sussex County with cropland value.
      13651 WILSON HILL Rd, Georgetown, DE 19947
      View Details
    • $369,900

      Georgetown Mixed-Use Investment Opportunity

      Mixed-use property near downtown Georgetown with redevelopment potential.
      109 BEDFORD St, Georgetown, DE 19947
      View Details
    • $495,000

      51 Acres Wooded Land

      51 acres of wooded land with trail system.
      51 Acres W PINEY GROVE ROAD, GEORGETOWN, DE 19947
      View Details
    • $79,000

      Vacant Lot in Georgetown, DE

      Vacant lot on Market Street, Georgetown. Buyer responsible for utilities.
      112 W MARKET Street, GEORGETOWN, DE 19947
      View Details
    • $349,000

      8.4 Acres with Development Potential

      Land with development potential, road frontage, utilities may be available.
      18932 SHINGLE POINT ROAD, GEORGETOWN, DE 19968
      View Details
    • $199,000
      1,550 SF

      Georgetown Commercial Property for Sale

      Commercial property located outside of Georgetown, Delaware.
      20303 Hardscrabble Rd, Georgetown, DE 19947
      View Details
    • $295,000
      1,590 SF

      Commercial Land on Route 113

      Commercial land available on Route 113 between Georgetown and Ellendale.
      18793 Dupont Blvd, Georgetown, DE 19947
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3-acre commercial land with high traffic for sale.
    Where is this commercial land located?
    The property is located at 0 Redden Rd Georgetown, DE.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: High traffic location on RT 113 (Dupont Blvd) with 10,659 average daily traffic count.; Proposed site plan for a convenience store with gas pumps.; One of the last traffic lights North of Georgetown to Ellendale.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Keith Walpole
    Real Estate License ID: DE RS-0014425
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    0 Redden Rd, Georgetown, DE 19947
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!