5298 Dupont HwyDover, DE 19901

Property Details for 5298 Dupont Hwy

Year built

1953

Lot size

4.20 AC

Property size (Sq ft)

6,179 SF

Zone code

MULTI

Property type

Commercial real estate

APN

7-00-111.00-01-23.00-000

APU

70011100012300000

Description

This exceptional investment opportunity presents a fully leased, 5,827 square foot flex space property located at 5298 S Dupont Hwy, Dover, DE 19901. The property, situated on a 4.16-acre lot, boasts three single-story buildings constructed in 1953 and renovated in 2009. Currently operating under a Net Lease agreement with a corporate-guaranteed tenant, the lease commenced September 1, 2021, and has a remaining term of approximately 1.8 years, expiring August 31, 2026. The lease includes 2% annual rent bumps. The property features four dock-high doors, providing ample access for loading and unloading. The zoning permits Business General and Agricultural/Residential uses. With a current Net Operating Income (NOI) of $107,369 and an asking price of $1,550,000, this property offers a compelling 6.93% cap rate. The property's strategic location on busy Route 13 Dupont Highway, with approximately 30,000 vehicles passing daily, ensures high visibility and accessibility. The fenced lot provides additional outdoor storage space. The warehouse roof is metal, and the retail building roof was replaced in December 2017. The tenant is responsible for all operating expenses except roof and structure maintenance. This is a rare opportunity to acquire a well-maintained, high-performing industrial property in a prime Delaware location. The property's strong tenant, long-term lease, and attractive cap rate make it an ideal addition to any investment portfolio.

• Alternative Use

  Use

  Valuation

  Residential

  $3,022,622

  Hospitality

  $2,768,706

  Educational

  $2,303,530

  Medical

  $2,382,752

  Retail

  $3,583,270

Location Insight

City

Dover

County

Kent

State

Delaware

Latitude

39.0742

Longitude

-75.5541

CBSA code

20100

CBSA name

DOVER, DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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