Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Long Neck Rd Millsboro, DE 19966
    Back to Search
    Property profile & analytics

    Long Neck Rd Millsboro, DE 19966

    View on Map
    • Commercial real estate
    • 2.68 lot acres
    For Sale
    View Listing →
    Millsboro Commercial Land Opportunity For Sale
    Contact for pricing

    Millsboro Commercial Land Opportunity

    Prime 2.68-acre lot, high visibility.

    Long Neck Rd, Millsboro, DE 19966
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • La Dolce Vita / Restaurant
    • Malone's Bayside Marina / Marina
    • Longneck Deli / Food Market / Restaurant
    • Bona Pizza / Restaurant
    • PAM Hair Studio II / Hair Salon / Nail Salon

    Property Details for Long Neck Rd

    Lot size
    2.68 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.68-acre commercial parcel presents a rare opportunity in the thriving Millsboro, Delaware market. Located on heavily trafficked Long Neck Road (E Rt 22), between Lingo Lane and Rudder Road, this property boasts nearly 300 feet of road frontage, ensuring maximum visibility and accessibility. The land is currently vacant and offers significant potential for a wide range of commercial developments. Its strategic location within a bustling commercial area, surrounded by established retail and commercial businesses, makes it ideal for various uses. Consideration could be given to restaurants, retail establishments, medical facilities, daycare centers, banks, or even apartment complexes. This is one of the few remaining undeveloped commercial lots in the area, representing a unique chance to establish a prominent presence in a rapidly expanding market. The property is being offered for lease, sale, or build-to-suit, providing flexibility to suit individual needs and investment strategies. Don't miss this chance to secure a prime location in a high-growth area. Serious inquiries are encouraged. The property address is Long Neck Road E Rt 22, Millsboro, DE.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Millsboro
    County
    Sussex
    State
    Delaware
    Longitude
    -75.304
    Latitude
    38.5835

    Comparable in this City

    • Value Estimation by Request
      0.69 Acres

      Millsboro, DE 19966

      COMMERCIAL (GENERAL) • 0.69 Acres
      Millsboro, DE 19966
      View Details
    • Value Estimation by Request
      11.30 Acres

      27494 Sts Rd

      COMMERCIAL (GENERAL) • 11.30 Acres
      27494 Sts Rd, Millsboro, DE 19966-4036
      View Details
    • Value Estimation by Request

      Millsboro, DE 19966

      COMMERCIAL (GENERAL)
      Millsboro, DE 19966
      View Details
    • Value Estimation by Request
      1.41 Acres

      Millsboro, DE 19966

      COMMERCIAL (GENERAL) • 1.41 Acres
      Millsboro, DE 19966
      View Details
    • Value Estimation by Request
      0.30 Acres

      Millsboro, DE 19966

      COMMERCIAL (GENERAL) • 0.30 Acres
      Millsboro, DE 19966
      View Details
    • Value Estimation by Request
      1.02 Acres

      Millsboro, DE 19966

      COMMERCIAL (GENERAL) • 1.02 Acres
      Millsboro, DE 19966
      View Details

    Similar Nearby for Sale

    • $549,000
      0.91 Acres

      Millsboro Commercial Land Opportunity

      Prime Route 113 Vacant Land
      Dupont Blvd, Millsboro, DE 19966
      View Details
    • Contact for pricing
      0.78 Acres

      Millsboro Commercial Land - High Visibility

      High-traffic location, versatile zoning, billboard included.
      Kerlyn Dr, Millsboro, DE 19966
      View Details
    • $3,028,000
      7.50 Acres

      Millsboro Commercial Land - 7.5 Acres

      High-visibility commercial land, excellent access.
      28334 Dupont Blvd, Millsboro, DE 19966
      View Details
    • $2,499,990
      0.58 Acres

      this storage haven enjoys unparalleled proximity to the waterways and scenic byways that define the region's allure.""""}"""

      Prime Coastal Storage Investment
      Gull Point Rd, Millsboro, DE 19966
      View Details
    • Contact for pricing
      2.68 Acres

      Millsboro Commercial Land Opportunity

      Prime 2.68-acre lot, high visibility.
      Long Neck Rd, Millsboro, DE 19966
      View Details
    • $150,000
      2.15 Acres

      Spacious Lot for Custom Home

      2.15-acre lot perfect for building your dream home.
      26486 Mount Joy Rd, Millsboro, DE 19966
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,287 SF

      Retail Space in Grocery-Anchored Center

      Retail space available in a neighborhood shopping center.
      26370-26396 Bay Farm Rd, Millsboro, DE 19966
      View Details
    • $800 /Mo
      200 SF

      Millsboro Commercial Lot for Rent

      0.78 AC commercial lot with C-1 zoning in Millsboro.
      Kerlyn Dr, Millsboro, DE 19966
      View Details
    • Contact for pricing

      Millsboro Land for Lease

      Approximately 3.70 acres available for ground lease or joint venture.
      235 Mitchell St, Millsboro, DE 19966
      View Details
    View Listing
    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.
    Long Neck Rd
    Millsboro, DE 19966
    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
    Long Neck Rd, Millsboro, DE, 19966
    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!