20494 Sussex Hwy, Bridgeville, DE 19933
- Commercial real estate
- 896 SF
- 2.91 lot acres
Current Use by Public Records
- 7-Eleven / Gas Station
Property Details for 20494 Sussex Hwy
- Year built
- 1949
- Construction
- WOOD FRAME
- Lot size
- 2.91 lot acres
- Zone code
- B-1
- Property type
- Commercial real estate
- APN
- 131-19.00-7.00
- APU
- 1311900700
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 2, 2021 | $1,500,000 | Ptv 1081 LLC | Balsamo&norino Prop LLC | Deed | $6M · First National Bank |
| Jan 24, 2014 | — | Balsamo & Norino Props LLC | Balsamo,joseph | Quit Claim Deed | — |
| Jul 19, 2005 | $325,000 | Joseph Balsamo | Jones,harold J | Grant Deed | — |
Description
This exceptional investment opportunity presents a newly constructed 7-Eleven gas station in Bridgeville, Delaware. Boasting a strong 18.1-year absolute NNN lease (with 16.6 years remaining) commencing June 1, 2023, and expiring June 30, 2041, this property offers significant long-term stability. The lease includes four five-year renewal options and attractive 10% rent bumps every five years. The 4,063 square foot building sits on a 3.09-acre lot and features 12 gas pumps (8 regular, 4 diesel). The property benefits from a 5.00% cap rate, a $428,486 net operating income (NOI), and a $8,569,720 asking price, translating to a price per square foot of $2,109.21. The tenant, 7-Eleven, Inc., is investment grade rated (A), providing exceptional creditworthiness and minimizing landlord responsibilities. Built in 2023, this single-story building is zoned for commercial use and enjoys 100% occupancy since its opening. This is a rare opportunity to acquire a high-performing, low-maintenance asset with substantial long-term growth potential. The property's location at 20494 Sussex Hwy, Bridgeville, DE 19933, ensures high visibility and accessibility.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,895,000
- ML approach
- $1,795,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Bridgeville
- County
- Sussex
- State
- Delaware
- Longitude
- -75.5897
- Latitude
- 38.7003
- CBSA code
- 41540
- CBSA name
- SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA
