28420 DELAWARE AV, Millsboro, DE 19966

Property Description

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 7.4% 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.

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 6:16AM

Listing Office:

SVN/Miller Commercial Real Estate : 4105432440

Listing Agent:

Wesley Cox : 4105432421

MLS ID:

DESU2112076

Interior

• A/C: Other
• Heating: OtherOther
• Disability Feature: Ramp - Main Level

Construction

• General: Other

Location

• Originating MLS: BRIGHT_MAIN
• School District: INDIAN RIVER
• County: SUSSEX-DE

Lot

• Zoning: GR234-34.08-78.00

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN