36674 Dupont Blvd Selbyville, DE 19975-3007

Property Details for 36674 Dupont Blvd

Lot size

1.25 lot acres

Zone code

C-1

Property type

Commercial real estate

APN

533-9.00-27.00

APU

5339002700

Description

This exceptional 15,000 square foot property in Selbyville, Delaware, presents a lucrative investment opportunity. Situated on a 1.25-acre lot with excellent visibility and access from Route 113/Dupont Highway, the property boasts 42 secure, gated mini-storage units generating current annual income of $53,591. A 4,200 square foot warehouse is currently under lease, adding to the existing cash flow. The property also includes 6,400 square feet of retail or flex space available for lease, offering significant potential for increased revenue. With city water and sewer connections, this property is conveniently located just outside of Selbyville. The existing mini-storage units have approximately 40% vacancy, indicating substantial upside potential with increased marketing efforts. The flex/retail building could be converted into climate-controlled mini-storage units, further enhancing profitability. Estimated rental rates for the existing flex/retail space range from $10.50 to $14 per square foot, depending on renovations and upgrades. A conservative projection estimates potential annual income at $148,357, representing an 11% capitalization rate. Two existing curb cuts provide convenient access to Route 113, ensuring high visibility and accessibility for tenants. This property offers a compelling blend of existing income and significant upside potential for a savvy investor. The property is priced at $1,250,000.