550 Bay Rd Dover, DE 19901
- Commercial real estate
- 24,756 SF
- 4.16 lot acres
Current Use by Public Records
- Century Engineering Inc. / Engineering Consultant
- Century Engineering / Corporate Office
Property Details for 550 Bay Rd
- Year built
- 2019
- Lot size
- 4.16 lot acres
- Property size
- 24,756 SF
- Zone code
- C4
- Property type
- Commercial real estate
- APN
- 2-05-077.00-01-11.00-000
- APU
- 20507700011100000
Description
This exceptional commercial real estate opportunity in Dover, Delaware, presents two distinct parcels ideal for development or expansion. Located at 550 S. Bay Rd, this property boasts a total of approximately 30,000 square feet of existing office space distributed across two buildings, each two stories high. The property is zoned C4, offering a wide range of permitted uses. Two separate lots are available for purchase, providing flexibility for investors. Lot 2 encompasses approximately 1.42 acres and is offered at $520,000. Lot 3, slightly larger at approximately 2.42 acres, is priced at $630,000. The property's location in Kent County, Delaware, provides convenient access to major transportation routes and a thriving business community. The existing office buildings offer immediate income potential or the opportunity for renovation and repositioning. The substantial lot sizes present significant development potential for new construction, aligning perfectly with the C4 zoning designation. This is a rare opportunity to acquire a versatile commercial property in a desirable location with significant upside potential. The property's APN is 2-05-07700-01-1001-000. This offering presents a compelling investment opportunity for both developers and investors seeking a strong foothold in the Delaware market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $9,845,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $9,910,000
- 6.5%
- $9,850,000
- 7%
- $8,195,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $9,475,000
- Geo Method
- $9,760,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $7,845,000
- Retail
- $8,055,000
- Mixed-Use
- $10,285,000
- Hospitality
- $10,520,000
- Educational
- $10,620,000
- Residential Income
- $8,215,000
- Energy
- $10,960,000
- Income-Based Land
- $9,005,000
- Food Service
- $10,395,000
Location Insight
- Map
- Local Demand
- City
- Dover
- County
- Kent
- State
- Delaware
- Longitude
- -75.5103
- Latitude
- 39.1545
- CBSA code
- 20100
- CBSA name
- DOVER, DE METROPOLITAN STATISTICAL AREA
