For Sale
$3,324,489

634 Stanton Christiana RdNewark, DE 19713

High-growth tenant, strong lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 34,000 square foot warehouse in Newark, Delaware, currently 100% occupied by Builders FirstSource (BLDR), a leading U.S. building products supplier and S&P 500 company. The property boasts a 10-year net lease (NN) with approximately 3.3 years remaining, featuring 2% annual rent increases and two additional five-year options. The asking price is $3,324,489, representing a 6.75% cap rate and a pro-forma cap rate of 6.90%. The current Net Operating Income (NOI) is $224,403, with a pro-forma NOI of $229,499. Built in 1969, this single-tenant property sits on a substantial 7.5-acre lot, strategically located with excellent access via State Highway DE-7 (48,000 vehicles per day). The tenant's strong financial performance and long-term lease provide exceptional stability and growth potential. The property's location in Wilmington, DE, a key economic center in the Mid-Atlantic region, further enhances its value. Comparable land sales within a three-mile radius have closed between $579,000 and $1,000,000 per acre, supporting the property's significant land value. This investment offers a compelling combination of strong tenant credit, a favorable lease structure, and a prime location in a thriving market. The long-term housing tailwinds and the tenant's extensive distribution network further solidify this opportunity's attractiveness.

Highlights

  • Builders FirstSource (BLDR), a leading U.S. building products supplier, occupies the property.
  • BLDR is an S&P 500 company with strong financials and significant stock appreciation.
  • The property benefits from its location within BLDR's extensive distribution network.
  • Favorable long-term housing market trends support the property's value.
  • The 7.5-acre site offers excellent highway access (DE-7, 48,000 VPD).
  • Recent land sales in the area support a high price per acre.

Property Details for 634 Stanton Christiana Rd

Property type
Warehouses, Industrial properties
Square Feet
34,000 SF
Year Built
1969
Lot Size (sq. ft)
326,700 SF
Units
1

Location Insight

City
Newark
County
New Castle
State
Delaware
Latitude
39.70284639
Longitude
-75.65126284
634 Stanton Christiana Rd, Newark, Delaware

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634 Stanton Christiana Rd
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