Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9 Park St Milton, DE 19968

    • Commercial real estate
    • 1.99 lot acres
    For Sale
    View listing
    Last Sale
    Jan 05, 2022
    $800,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0366691
    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

    • The Shore Store Party Rentals / Party Equipment Rental Service
    • Coastal Beach Services / Beach Entertainment Shop / Delivery Service
    • KC Kitchen Remodeling / Kitchen Remodeler
    • KC Shower Doors / Bathroom Remodeler

    Property Details for 9 Park St

    Lot size
    1.99 lot acres
    Zone code
    TN
    Property type
    Commercial real estate
    APN
    235-20.11-5.00
    APU
    2352011500

    Description

    This 1,600 square foot industrial property located at 9 Park St, Milton, DE 19968, presents a unique opportunity. The single-story building, constructed in 1980, is zoned for light industrial use and features a spacious layout ideal for various businesses. The property consists of one suite encompassing the entire 1,600 square feet, offering flexibility and ample space. The high ceilings, measuring 14 feet, provide significant vertical clearance, beneficial for storage or specialized equipment. The space is currently configured as a shop/storage area, with dimensions approximately 20 feet by 80 feet. Note that there is no bathroom or plumbing currently installed. The property is adaptable and offers a build-to-suit option, allowing for customization to meet specific business needs. This versatile space is perfect for businesses seeking a functional and adaptable workspace in a convenient Delaware location. The property is situated in a light industrial zone, providing access to key transportation routes and infrastructure. The minimum divisible space is 1,600 square feet, making it suitable for a single tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $885,000
      ML approach
      $885,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Milton
    County
    Sussex
    State
    Delaware
    Longitude
    -75.3166
    Latitude
    38.7711
    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
    $4,889
    $7,500
    $89,200
    $96,700
    -
    $20,000
    $178,400
    $198,400

    Comparable in this City

    • Value Estimation by Request

      Milton, DE 19968

      COMMERCIAL (GENERAL)
      Milton, DE 19968
      View Details
    • Value Estimation by Request
      0.18 Acres

      Milton, DE 19968

      COMMERCIAL (GENERAL) • 0.18 Acres
      Milton, DE 19968
      View Details
    • Value Estimation by Request
      10.15 Acres

      Milton, DE 19968

      COMMERCIAL (GENERAL) • 10.15 Acres
      Milton, DE 19968
      View Details
    • Value Estimation by Request
      1.34 Acres

      409 Broadkill Rd

      COMMERCIAL (GENERAL) • 1.34 Acres
      409 Broadkill Rd, Milton, DE 19968-1013
      View Details
    • Value Estimation by Request
      1.18 Acres

      100 Business Park Ln

      COMMERCIAL (GENERAL) • 1.18 Acres
      100 Business Park Ln, Milton, DE 19968-1035
      View Details
    • Value Estimation by Request
      0.78 Acres

      25683 Deep Br Rd

      COMMERCIAL (GENERAL) • 0.78 Acres
      25683 Deep Br Rd, Milton, DE 19968-2916
      View Details

    Similar Nearby for Sale

    • $1,881,600
      3.30 Acres

      211 Broadkill Rd, Milton, DE 19968

      Commercial real estate • 3.30 Acres
      211 Broadkill Rd, Milton, DE 19968
      View Details
    • $900,000

      Diamond Farm Road Land Opportunity

      Land available on Diamond Farm Road in Milton, Delaware.
      16405 Diamond Farm Rd, Milton, DE 19968
      View Details
    • $1,049,000

      HUDSON Rd, Milton, DE Property

      Specialty property for sale in Milton, DE.
      16132 Hudson Rd, Milton, DE 19968
      View Details
    • $929,461

      Milton Specialty Property For Sale

      Specialty property available for purchase in Milton, Delaware.
      29433 Cynthia Ln, Milton, DE 19968
      View Details
    • $525,000

      Hughes Hideaway Court Property

      Property on Hughes Hideaway Court, Milton, DE for sale.
      23772 Hughes Hideaway Ct, Milton, DE 19968
      View Details
    • $320,000

      Specialty Property for Sale

      Specialty property available for purchase.
      109 Genoa Ln, Milton, DE 19968
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Coastal Highway Commercial Spaces

      Commercial spaces available for rent on Coastal Highway.
      30616 Coastal Hwy, Milton, DE 19968
      View Details
    • $14 SF/Yr

      Milton Flex Space For Rent

      Flex space suitable for shop or storage in Milton, Delaware.
      9 Park St, Milton, DE 19968
      View Details
    • $22 SF/Yr
      4,200 SF

      Prime Milton Medical Office Space

      4,200 SF Medical Office - Available Now
      616 Mulberry St, Milton, DE 19968
      View Details
    • $14 SF/Yr

      Commercial Space on Mulberry Street

      1,200 SF commercial space suitable for office, retail, or medical.
      622 Mulberry St, Milton, DE 19968
      View Details
    • $14 SF/Yr

      Milton Flex Space For Rent

      Flex space available for rent in Milton, Delaware.
      9 Park St, Milton, DE 19968
      View Details
    • $8 SF/Yr

      Warehouse Space Near Major Cities

      8,000 SF warehouse space, convenient access to regional cities.
      25414 Primehook Rd, Milton, DE 19968
      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.
    9 Park St
    Milton, DE 19968
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.