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375-385 W North St - 383 W North St, Bldg #6 2,070 SF Office Condo Unit Offered at $165,000 in Dover, DE 19904



Investment Highlights
- Income in place with ability to increase NOI through lease up
- Minutes from downtown Dover and Loockerman Street business district
- Vacant unit ready for owner occupancy or rental
- Near Kent County government offices and court buildings
Executive Summary
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:
Property Facts
Amenities
- Signage
1 Unit Available
Unit A-B
| Unit Size | 2,070 SF | Sale Type | Investment or Owner User |
| Price | $165,000 | Cap Rate | 6.91% |
| Price Per SF | $79.71 | NOI | $11,400 |
| Condo Use | Office | APN/Parcel ID | 2-05-07709-01-7900-011, 2-05-07709-01-7900-012 |
| Unit Size | 2,070 SF |
| Price | $165,000 |
| Price Per SF | $79.71 |
| Condo Use | Office |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.91% |
| NOI | $11,400 |
| APN/Parcel ID | 2-05-07709-01-7900-011, 2-05-07709-01-7900-012 |
Description
Office 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 Notes
Property 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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375-385 W North St - 383 W North St, Bldg #6
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