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    26850 Lewes Georgetown Hwy Harbeson, DE 19951-2856
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    Property profile & analytics

    26850 Lewes Georgetown Hwy, Harbeson, DE 19951-2856

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    • Commercial real estate
    • 6.00 lot acres
    Off-Market
    Last Sale Mar 29, 2021
    $1,700,000
    Property ID
    US17-0069718
    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
    $1,935,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Delaware Dynamix / Gym & Fitness Center

    Property Details for 26850 Lewes Georgetown Hwy

    Lot size
    6.00 lot acres
    Zone code
    CR1
    Property type
    Commercial real estate
    APN
    235-30.00-58.05
    APU
    23530005805

    Description

    This exceptional retail property, located at 26850 Lewes/Georgetown Hwy, offers a unique opportunity for businesses seeking versatile and well-located commercial space. The single-story building, constructed in 2005, totals 19,412 square feet and sits on 6 acres of land. Three units are currently available for lease, providing flexible options ranging from a minimum of 1,250 square feet to a maximum contiguous space of 49,412 square feet. The property boasts 113 parking spaces, ensuring ample convenience for customers and employees. Units are zoned C-1 & CR-1, allowing for a variety of commercial uses. Specific lease terms are available upon request, but one unit offers 4,686 square feet at $16.00 per square foot with a CAM fee of $2.50 per square foot. Another unit offers flexible space from 1,250 to 3,000 square feet at $16.00 per square foot with a CAM fee of $2.50 per square foot. This prime location offers excellent visibility and convenient access, making it an ideal choice for businesses seeking a thriving commercial environment. Pre-leasing is available for occupancy beginning October.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,150,000
      ML approach
      $2,190,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Harbeson
    County
    Sussex
    State
    Delaware
    Longitude
    -75.2709
    Latitude
    38.7265
    CBSA code
    41540
    CBSA name
    SALISBURY, MD-DE 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
    $2,481
    $15,000
    $45,000
    $60,000
    -
    $30,000
    $90,000
    $120,000

    Comparable in this City

    • Value Estimation by Request
      5.00 Acres

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    • Value Estimation by Request
      2.78 Acres

      26609 Lewes Georgetown Hwy

      COMMERCIAL (GENERAL)
      26609 Lewes Georgetown Hwy, Harbeson, DE 19951-2862
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    • Value Estimation by Request
      0.70 Acres

      26451 Lewes Georgetown Hwy

      COMMERCIAL (GENERAL)
      26451 Lewes Georgetown Hwy, Harbeson, DE 19951-2860
      View Details
    • Value Estimation by Request
      1.03 Acres

      26804 Lewes Georgetown Hwy

      COMMERCIAL (GENERAL)
      26804 Lewes Georgetown Hwy, Harbeson, DE 19951-2856
      View Details
    • Value Estimation by Request
      3.22 Acres

      26822 Lewes Georgetown Hwy

      COMMERCIAL (GENERAL)
      26822 Lewes Georgetown Hwy, Harbeson, DE 19951-2856
      View Details
    • Value Estimation by Request
      2.67 Acres

      Harbeson, DE 19951

      COMMERCIAL (GENERAL)
      Harbeson, DE 19951
      View Details

    Similar Nearby for Sale

    • New
      $100,000
      0.27 Acres

      Residential Lot in Harbeson, DE

      Buildable lot in a great location, investment opportunity!
      Hollyville Rd, Harbeson, DE 19951
      View Details
    • Contact for pricing
      4,500 SF

      Income-Producing Land with Development Potential

      7.18±-acre CR-1 zoned property with income and development potential.
      26539 Lewes Georgetown Hwy, Harbeson, DE 19951
      View Details
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    Harbeson, DE 19951-2856
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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.

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