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Office Condo For Sale • 2,070 SF
| Name | Condo Use | Size | Price | Details |
|---|---|---|---|---|
| 1st Floor - Unit A-B | Office | 2,070 SF | $165,000 USD | |
DescriptionOffice condominium consisting of two separately deeded units within North Queen Plaza. Total building area is approximately 2,070 square feet. One unit is leased providing in place income, with the second unit vacant and ready for occupancy. Layout allows for owner user flexibility or full lease up. Each unit has its own entrance, utilities, and mailing address. Condo association covers exterior and common area maintenance. Shared surface parking available Sale NotesProperty consists of two separately deeded office condo units being sold together. One unit is currently leased with a lease in place through December 2026. The second unit is vacant. This setup allows for an owner occupant to utilize one unit while benefiting from existing income, or for an investor to lease the second unit and stabilize the asset. Separate entrances, utilities, and mailing addresses for each unit provide flexibility and simple management. Buyer to verify all information including condo association details, taxes, and permitted uses. |
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Two unit office condominium located within North Queen Plaza in Dover. The property consists of two separately deeded units totaling approximately 2,070 square feet and is being offered together as a single acquisition. The first floor unit is currently leased at $1,300 per month with a lease in place through December 2026, providing immediate income. The second floor unit is vacant and ready for occupancy, allowing a buyer to operate their business while offsetting costs, or lease the space for additional income. Each unit has its own entrance, mailing address, and utilities, allowing for straightforward management and flexibility in use. The layout supports a range of professional, office, or service-based users. The first floor is configured with four private offices and two restrooms, including handicap accessibility. The second floor offers a more open layout with one private office, two restrooms, and access to a private balcony. The property is part of a condominium association, with quarterly dues covering exterior maintenance, lawn care, and snow removal. This structure reduces day to day maintenance responsibility for ownership. Shared surface parking is available on site. Located in Dover with access to downtown, government offices, and surrounding commercial activity, the property is well positioned for both owner occupants and small investors. The combination of in place income and a vacant unit creates a clear path to stabilize and increase overall income through lease up, while maintaining flexibility for a buyer to occupy part or all of the property. Buyer to verify all information including condo association details, permitted uses, and property condition. If you want, I can next:
| Income in place with ability to increase NOI through lease up |
| Vacant unit ready for owner occupancy or rental |
| Minutes from downtown Dover and Loockerman Street business district |
| Near Kent County government offices and court buildings |
| Cap Rate: | 6.91 % |
| Tenant | SF Occupied | Lease End Date |
|---|---|---|
| Concentric Life Inc | ||
| E M Way | ||
| Em Way Inc | ||
| Essential Staffing Inc. | ||
| Jobs For Delaware Graduates | ||
| Junior Military Mentors | ||
| Nationwide Insurance |
| Parking Available: | Yes |
| Reserved: | No |
| Spaces Provided: | 12 |
| Type: | Surface |
| Included in Rent: | Yes |
Nik Patel
Keller Williams Realty Central Delaware
Nik Patel
Keller Williams Realty Central Delaware
