Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    905 Governors Ave Dover, DE 19904

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    905 Governors Ave Dover, DE 19904

    View on Map
    • Office properties & Spaces
    • 1,710 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Division of Child Support Services / Social Service Agency / Charitable Organization
    • Healthcare Center At Dover / Nursing Home / Retirement Community
    • UX Portable Potty Solutions / Building Supply
    • Elections Commissioner / State Government Office / County Government Office

    Property Details for 905 Governors Ave

    Property size
    1,710 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional 1,710 square foot executive office building at 905 S. Governors Ave, Dover, Delaware, is offered for sale at $4,200,000. The property boasts a highly desirable location in Kent County, zip code 19904, and features strong, long-term income generation. Currently occupied by the Delaware Department of Elections and the Department of Child Support Services – both state tenants with multiple years remaining on their leases – this presents a secure investment opportunity. The building's asking price equates to $2,456.14 per square foot. In addition to the existing leases, there is also 1,710+ square feet of office space available for lease, providing further potential for rental income. This property is an excellent choice for investors seeking a stable, income-producing asset in a prime Delaware location. The building's address is 905 S Governors Ave, Dover, DE 19904. The property is classified as an Executive Office building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Dover
    County
    Kent
    State
    Delaware
    Longitude
    -75.5249
    Latitude
    39.1461

    Comparable in this City

    • Value Estimation by Request

      874 Walker Rd

      Office properties & Spaces
      874 Walker Rd, Dover, DE 19904
      View Details
    • Value Estimation by Request
      864 SF

      1330 Forrest Ave

      Office properties & Spaces • 864 SF
      1330 Forrest Ave, Dover, DE 19904
      View Details
    • Value Estimation by Request
      3,000 SF

      12 Lincoln St

      Distribution properties • 3,000 SF
      12 Lincoln St, Dover, DE 19904
      View Details
    • Value Estimation by Request
      6,700 SF

      640 Queen St

      Medical Office Space • 6,700 SF
      640 Queen St, Dover, DE 19904
      View Details
    • Value Estimation by Request
      7,000 SF

      753 Walker Rd

      Office properties & Spaces • 7,000 SF
      753 Walker Rd, Dover, DE 19904
      View Details
    • Value Estimation by Request
      0.51 Acres

      517 Division St

      Restaurants • 0.51 Acres
      517 Division St, Dover, DE 19904
      View Details

    Similar Nearby for Sale

    • $315,000
      1,926 SF

      Dover Office Building - High Visibility

      Prime Dover location, 1926 sq ft office space.
      1447 Governors Ave, Dover, DE 19904
      View Details
    • $165,000
      2,070 SF

      Dover Office Condominium For Sale

      Two-unit office condominium with income potential in Dover, DE.
      383 W North St, Dover, DE 19904
      View Details
    • $199,000

      Two-Unit Office Condo For Sale

      Two-unit office condo in great condition available for purchase.
      838 Walker Rd, Dover, DE 19904
      View Details
    • $159,000
      1,800 SF

      Condo Office Space For Sale

      1,800 sq ft condo office space available for sale.
      846 1St St, Dover, DE 19904
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      1,710 SF

      Dover Executive Office Suite

      Prime Dover Office, 1710 sq ft
      905 Governors Ave, Dover, DE 19904
      View Details
    • $5,046 /Mo
      65,340 SF

      Professional Office Space Available

      Professional office space for lease in Dover, Delaware.
      230 Beiser Blvd, Dover, DE 19904
      View Details
    • $5,046 /Mo

      Professional Office Space Available

      Professional office space with multiple exam rooms and offices.
      230 Beiser Blvd, Dover, DE 19904
      View Details
    • $1,300 /Mo

      Dover Office Space For Lease

      Commercial space with private offices and convenient parking in Dover.
      383 W North St, Dover, DE 19904
      View Details
    • Contact for pricing
      22,855 SF

      Dover Medical Office Building

      Class A space, multiple suites available
      200 Banning St, Dover, DE 19904
      View Details
    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.
    905 Governors Ave
    Dover, DE 19904
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!