1120 S Central Ave

Laurel, DE 19956

• Post Office
• Land for Sale
• $2,054,930 CAD
• 4.39 AC Lot

Laurel Land for Sale - Sussex County

Investment Opportunity in Laurel, DE. This 7,006 SF free-standing commercial building sits on 4.4 acres along Laurel, DE's main corridor, just miles from Rt 13, the major N/S corridor for the Eastern Shore. Offering high visibility, multiple points of ingress and egress, plentiful parking and additional land for development or expansion, the property is positioned for growth. The building on site was a very well performing Rite-Aid Pharmacy that was in operation for many years. With a wide-open floor plan and a small warehouse and office space in the rear of the building, the property is very versatile. A new roof (less than 5 years old) and brand new HVAC systems (about 1 year old) demonstrate that this property has been well maintained over the years. C-B zoning provides excellent flexibility for retail, office, medical, or service-oriented businesses, making this an ideal property for investors or owner-occupants

Contact:

SVN | Miller Commercial Real Estate

Property Subtype:

Commercial

Date on Market:

2026-03-04

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Greenwood Post Office - 2 E Market St

Greenwood, DE 19950

• Post Office
• Specialty for Sale
• $1,295,037 CAD
• 2,692 SF

Greenwood Specialty for Sale - Sussex County

The Greenwood Post Office recently executed a new five-year Lease. The building was built as a post office approximately 50 years ago and the U.S. Postal Service has been renewing the lease every five years ever since. The post office is located at the center of town next to the Greenwood Town Hall and the Greenwood Library. We anticipate that the U.S. Postal Service will continue to renew the lease every five years. The current annual rent is $59,762 ($4,980.17 per month). The lease is nearly a triple net lease (NNN), with the only expenses being paid by the landlord are insurance, roof/structural repairs and other minor repairs. In 2022 the unreimbursed landlord expenses paid were $2,007. In 2023 the unreimbursed landlord expenses paid were $4017, although $1,002 were for capital expenses. To calculate a projected 2024 Net Operating Income (NOI) the landlord expenses of 2022 and 2023 were averaged, which translates to $3,062. Deducting this amount from the current annual rent of $59,762 results in a projected 2024 NOI of $56,700. At a 5% cap rate with an NOI of $56,700 the purchase price is $1,134,000.

Contact:

Setting Properties

Property Subtype:

Post Office

Date on Market:

2024-08-15

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