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This offering presents the opportunity to acquire a cash-flowing multifamily investment property located at 28420 Delaware Avenue in Millsboro, Delaware. The property consists of approximately 3,000 square feet and generates estimated rental income of $7,250 per month ($87,000 annually). Estimated annual operating expenses are approximately $12,985, resulting in an estimated net operating income of approximately $74,015. Income and expense figures are estimates and should be independently verified by prospective purchasers. The property represents an estimated 8.0% cap rate based on the reported income and expenses, providing investors with stable in-place cash flow. The asset benefits from its location within the growing Sussex County market, where continued residential development and population growth are supporting strong rental demand. This is a compelling opportunity for investors seeking a performing multifamily asset with strong income, low expenses, and long-term upside in one of Delaware's fastest-growing regions.
| DAYS ON MARKET | 34 | LAST UPDATED | 10/7/2026 |
|---|---|---|---|
| YEAR BUILT | 2015 | COMMUNITY | Indian River Hundred (31008) |
| COUNTY | SUSSEX | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | INDIAN RIVER |
|---|
| PRICE HISTORY | |
| Prior to Oct 7, '26 | $999,999 |
|---|---|
| Oct 7, '26 - Today | $925,000 |
| ADDITIONAL DETAILS | |
| AIR | Other |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Indian River Hundred (31008) |
| CONSTRUCTION | Other |
| HEAT | Other |
| LOT DIMENSIONS | 100.00 x 300.00 |
| PARKING | Parking Lot |
| SEWER | Public Sewer |
| TAXES | 930 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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*Estimate only
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Listing provided by SVN/Miller Commercial Real Estate
Based on information from Sussex County Association of REALTORS®, Inc., which neither guarantees nor is in any way responsible for its accuracy. All data is provided 'AS IS' and with all faults. Data maintained by Sussex County Association of REALTORS®, Inc. may not reflect all real estate activity in the market.
Copyright 2026 Sussex County Association of REALTORS®, Inc.
This IDX solution is (c) Diverse Solutions 2026.
