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    200 Atlantic Ave Millville, DE 19967

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    200 Atlantic Ave Millville, DE 19967

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    • Lifestyle centers
    • 3,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fox's Pizza Den / Bar & Pub

    Property Details for 200 Atlantic Ave

    Property size
    3,000 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 3,000-square-foot retail space is ideally situated at 200 Atlantic Avenue in Millville, Delaware, zip code 19967. Currently vacant, this single-tenant property offers a blank canvas for a variety of retail businesses. The building's total area is 3,000 square feet, providing ample space for a substantial operation. The property's strategic location within the Millville Town Center ensures high visibility and foot traffic. This vibrant commercial area boasts a strong tenant mix, including established businesses such as Giant Supermarket, M&T Bank, Aqua Care, Hallmark, Twenty Six, Moon Cleaners, Quest Diagnostics, Subway, and Fox's Pizza. This ensures a consistent flow of customers and a thriving commercial environment. The property's address is easily accessible from Atlantic Avenue, providing excellent visibility and convenient access for customers. The property type is classified as a strip center/shopping center, offering a versatile space adaptable to various retail concepts. This presents a unique opportunity for businesses seeking a prominent location within a well-established and successful commercial center. The property is ready for immediate occupancy, allowing for a swift start to operations. This is an excellent opportunity to establish a thriving retail presence in a high-traffic area of Millville, Delaware.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Millville
    County
    Sussex
    State
    Delaware
    Longitude
    -75.1082
    Latitude
    38.5466

    Comparable in this City

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      2,400 SF

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    • Value Estimation by Request
      0.87 Acres

      35849 Atlantic Ave

      COMMERCIAL (GENERAL) • 0.87 Acres
      35849 Atlantic Ave, Millville, DE 19967-6958
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    • Value Estimation by Request
      0.48 Acres

      35476 Atlantic Ave

      CHARITABLE ORGANIZATION • 0.48 Acres
      35476 Atlantic Ave, Millville, DE 19967
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    • Value Estimation by Request
      1,084 SF

      36375 Ridgeshore Ln

      COMMERCIAL (GENERAL) • 1,084 SF
      36375 Ridgeshore Ln, Millville, DE 19967-6775
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    • Value Estimation by Request
      2,336 SF

      35136 Atlantic Ave

      COMMERCIAL (GENERAL) • 2,336 SF
      35136 Atlantic Ave, Millville, DE 19967
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    • Value Estimation
      $740,000
      0.62 Acres

      35785 Atlantic Ave

      COMMERCIAL (GENERAL) • 0.62 Acres
      35785 Atlantic Ave, Millville, DE 19967-6944
      View Details

    Similar Nearby for Lease

    • $200 SF/Yr

      Retail Space with Fenced Yard

      Retail space with fenced yard in a convenient location.
      35849 Atlantic Ave, Millville, DE 19967
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    • $29 SF/Yr

      Retail Space in Millville Square

      Retail space for rent, close to Bethany Beach.
      35246 Atlantic Ave, Millville, DE 19967
      View Details
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    200 Atlantic Ave
    Millville, DE 19967
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    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
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