54 Albe DrNewark, DE 19702

Property Details for 54 Albe Dr

Year built

1988

Construction

CONCRETE

Lot size

1.66 AC

Property size (Sq ft)

1,449 SF

Zone code

I

Property type

Office properties

APN

09-037.00-074

APU

903700074

Description

This exceptional 11,600-square-foot industrial property, located at 54 Albe Drive in Newark, Delaware, presents a rare opportunity for single-tenant occupancy. Completely renovated in 2024, this single-story building offers a versatile space ideal for flex, warehouse, or distribution uses. The property boasts a generous 18-foot ceiling height, providing ample vertical storage capacity. Four drive-in bays ensure efficient loading and unloading, significantly streamlining operations. The space also includes a small office area for administrative needs. Situated on a 1.66-acre lot, the property features extensive fenced parking and lay-down areas on both sides of the building, offering ample space for equipment storage or material handling. The building was originally constructed in 1985 and benefits from the I - Industrial zoning designation of New Castle County. This property is ready for immediate occupancy and offers a unique combination of functionality, accessibility, and modern amenities. Don't miss this chance to secure this prime industrial space in a thriving Delaware location.

• CAP approach

  CAP return

  Valuation

  6%

  $619,262

  6.5%

  $571,626

  7%

  $530,796

• Comparable approach

  Method

  Valuation

  Relative Method

  $307,295

  Geo Method

  $189,326

• Alternative Use

  Use

  Valuation

  Residential

  $708,817

  Hospitality

  $649,272

  Educational

  $540,187

  Medical

  $558,765

  Retail

  $840,291

Location Insight

City

Newark

County

New Castle

State

Delaware

Latitude

39.6513

Longitude

-75.7148

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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