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    Property profile & analytics

    1330 Forrest Ave Dover, DE 19904

    • Commercial real estate
    • 864 SF
    • 0.64 lot acres
    For Sale
    View listing
    $475,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0209165
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1330 Forrest Ave

    Lot size
    0.64 lot acres
    Property size
    864 SF
    Property type
    Commercial real estate
    APN
    2-05-07610-01-5200-000

    Description

    This exceptional executive office building, located at 1330 Forrest Ave in Dover, Delaware, presents a unique investment opportunity. The property boasts 864 square feet of space situated on a 0.64-acre lot, offering significant potential for growth and development. The building is zoned C2A, allowing for a variety of commercial uses. The property is offered as a ground lease with an annual ground lease payment of $40,000. The property's tax records indicate Kent County taxes of $865.75 and City of Dover taxes of $420.22 in 2015. Utilities are provided by the City of Dover and Chesapeake Utilities. The asking price for this prime commercial property is $475,000. The tax parcel number is 2-05-07610-01-5200-000. This property is ideal for an owner-occupier seeking a well-located executive office space or an investor looking for a strong return on investment in a thriving Delaware market. The convenient location in Dover, Delaware, offers easy access to major transportation routes and amenities. This is a rare opportunity to acquire a well-maintained commercial property in a desirable location at an attractive price point. Don't miss out on this chance to own a piece of Dover's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dover
    County
    Kent
    State
    Delaware
    Longitude
    -75.554919
    Latitude
    39.1584948

    Comparable in this City

    • $585,000

      Dover Commercial Property For Sale

      Commercial property on heavily traveled road, suitable for various uses.
      1244 Forrest Ave, Dover, DE 19904
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    • $234,900

      Dover Retail/Office Opportunity

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    • $1,500,000
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      Executive Office Building, Dover DE

      Income-producing office, prime Dover location.
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    • $1,197,000
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      Downtown Dover Multi-Building Complex

      Executive Offices & Warehouse Space - $1.197M
      12 Lincoln St, Dover, DE 19904
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    • $899,000
      1.80 Acres

      Prime Land with Commercial Potential

      1.82 acres of land zoned for commercial and professional office.
      1326 Forrest Ave, Dover, DE 19904
      View Details

    Similar Nearby for Sale

    • $585,000

      Dover Commercial Property For Sale

      Commercial property on heavily traveled road, suitable for various uses.
      1244 Forrest Ave, Dover, DE 19904
      View Details
    • $234,900

      Dover Retail/Office Opportunity

      Retail or office building in Dover, close to downtown.
      319 W Water St, Dover, DE 19904
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    • $1,500,000
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      Downtown Dover Medical Office Building

      Prime Medical Office, 5041 SF, 60+ Parking
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    • $4,200,000
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      Executive Office Building, Dover DE

      Income-producing office, prime Dover location.
      905 Governors Ave, Dover, DE 19904
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    • $1,197,000
      3,000 SF

      Downtown Dover Multi-Building Complex

      Executive Offices & Warehouse Space - $1.197M
      12 Lincoln St, Dover, DE 19904
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    • $899,000
      1.80 Acres

      Prime Land with Commercial Potential

      1.82 acres of land zoned for commercial and professional office.
      1326 Forrest Ave, Dover, DE 19904
      View Details

    Similar Nearby for Lease

    • $1,250 /Mo

      High-Visibility Dover Commercial Space

      Former bank branch with drive-through, ideal for various businesses.
      1001 Walker Rd, Dover, DE 19904
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    • $2,200 /Mo
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      Professional Office Space Available

      Professional office space for lease in Dover, Delaware.
      230 Beiser Blvd Unit, Dover, DE 19904
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    • $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
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    • $1,875 /Mo

      Second Floor Office Space Available

      Second floor office space for rent, utilities included.
      1151 Walker Rd, Dover, DE 19904
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    • $19 SF/Yr
      1,710 SF

      Dover Executive Office Suite

      Prime Dover Office, 1710 sq ft
      905 Governors Ave, Dover, DE 19904
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    • $2,200 /Mo

      Professional Office Space Available

      Professional office space for rent, approximately 1500 square feet.
      230 Beiser Blvd, Dover, DE 19904
      View Details
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    1330 Forrest Ave
    Dover, DE 19904
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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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