Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2012 Brackenville Rd Hockessin, DE 19707-9568

    Property Lookup

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

    2012 Brackenville Rd Hockessin, DE 19707-9568

    View on Map
    • Retail space
    • 11,916 SF
    • 2.30 lot acres
    Off-Market
    Property ID
    US17-0121314
    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.
    Value Estimations
    $1,815,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Walgreens Pharmacy / Pharmacy
    • Walgreens / Pharmacy
    • ATM / Atm
    • Western Union / Bank / Credit Union

    Property Details for 2012 Brackenville Rd

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    2.30 lot acres
    Property size
    11,916 SF
    Zone code
    CN
    Property type
    Retail space
    APN
    08-013.20-024
    APU
    801320024

    Description

    This exceptional investment opportunity presents a fee-simple Walgreens located at 2012 Brackenville Rd, Hockessin, DE 19707. The 11,916 square foot building sits on a 2.3-acre lot at a hard corner with excellent visibility and access from a four-way signalized intersection. Built in 2008, this single-tenant property boasts a 20-year net lease (NNN) with a corporate guarantee from Walgreens, providing significant security. The lease commenced February 18, 2008, and expires February 29, 2028, leaving approximately 3.3 years remaining. The current annual net operating income (NOI) is $462,360, yielding an 8.00% cap rate, with a purchase price of $5,779,500 ($485.02 per square foot). The property benefits from strong demographics, with a 3-mile radius encompassing 32,700 residents earning an average household income of $156,000. This expands to 104,300 residents within a 5-mile radius ($127,700 AHHI) and 467,800 residents within 10 miles ($107,700 AHHI). The lease includes three, five-year renewal options with a 12.5% rent increase in each. This Walgreens location was formerly a Happy Harry's, acquired and rebranded by Walgreens due to strong store performance. The property offers exceptional ease of access and visibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,925,000
      6.5%
      $1,775,000
      7%
      $1,650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,293,000
      Market price range: $1.39M - $3.95M
      AI Estimate
      $1,370,000
      Market price range: $633k - $2.62M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,730,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hockessin
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6794
    Latitude
    39.781
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,162
    $92,000
    $428,100
    $520,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $540,000
      3,950 SF

      4115 Newport Gap Pike

      RETAIL STORES (PERSONAL SERVICES) • 3,950 SF
      4115 Newport Gap Pike, Hockessin, DE 19707
      View Details
    • Value Estimation
      $2,850,000
      15,409 SF

      7465 Lancaster Pike

      RETAIL STORES (PERSONAL SERVICES) • 15,409 SF
      7465 Lancaster Pike, Hockessin, DE 19707-9583
      View Details
    • Value Estimation
      $945,000
      4,643 SF

      6303 Limestone Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,643 SF
      6303 Limestone Rd, Hockessin, DE 19707-9170
      View Details
    • Value Estimation
      $1,735,000
      9,100 SF

      7288 Lancaster Pike

      RETAIL STORES (PERSONAL SERVICES) • 9,100 SF
      7288 Lancaster Pike, Hockessin, DE 19707-9296
      View Details
    • Value Estimation by Request
      602 SF

      7277 Lancaster Pike

      RETAIL STORES (PERSONAL SERVICES) • 602 SF
      7277 Lancaster Pike, Hockessin, DE 19707-9271
      View Details
    • Value Estimation by Request
      1,675 SF

      1250 Old Lancaster Pike

      RETAIL STORES (PERSONAL SERVICES) • 1,675 SF
      1250 Old Lancaster Pike, Hockessin, DE 19707-8727
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Lantana Square Retail Opportunity

      Prime retail spaces in a dynamic, convenient shopping center.
      136 Lantana Dr, Hockessin, DE 19707
      View Details
    • $75,000

      Established Restaurant Business Opportunity

      Well-known restaurant for sale in Hockessin, Delaware.
      701 Ace Memorial Dr, Hockessin, DE 19707
      View Details
    • $200,000
      2,040 SF

      Retail Space in Wellington Plaza

      5,400 SF retail space in North Hockessin, Delaware.
      701-723 Ace Memorial Dr, Hockessin, DE 19707
      View Details
    • $695,000
      2.00 Acres

      Two Acre Hockessin Land

      Two acre residential land in Hockessin, Delaware.
      42 Clouds Way, Hockessin, DE 19707
      View Details
    • $274,900
      0.76 Acres

      Hockessin Land For Custom Build

      0.76 acre lot for custom home in Hockessin, DE.
      112 Cameron Dr, Hockessin, DE 19707
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,700 SF

      Retail Space in Hockessin Center

      Retail property with up to 20,000 SF available for rent.
      120-324 Lantana Dr, Hockessin, DE 19707
      View Details
    • Contact for pricing

      Turn-key Executive Office Space

      Executive office space available for rent in Hockessin.
      7450 Lancaster Pike, Hockessin, DE 19707
      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.
    2012 Brackenville Rd
    Hockessin, DE 19707-9568
    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!