60 Geoffrey DrNewark, DE 19713

Property Details for 60 Geoffrey Dr

Year built

1987

Construction

CONCRETE

Lot size

2.08 AC

Property size (Sq ft)

20,594 SF

Zone code

CR

Property type

Retail properties

Property subtype

Retail space

APN

09-018.00-056

APU

901800056

Description

This 2,075 square foot retail space is located in a high-traffic shopping center at 60 Geoffrey Dr, Newark, DE 19713. The property is part of a larger retail center totaling 20,985 square feet, offering excellent visibility and accessibility. The space is currently vacant and available for immediate occupancy. It's a warm shell space, providing flexibility for tenant build-out to suit specific business needs. The minimum divisible space is 2,075 square feet, with a maximum contiguous space of 2,075 square feet. This prime location within the Christiana market offers convenient access to major roadways, including interstate, arterial, and lateral roads, ensuring high traffic flow and customer accessibility. The center boasts strong existing tenants, including First Watch and Chipotle, creating a synergistic environment and attracting a substantial customer base. This presents a unique opportunity for businesses seeking a well-located, high-visibility retail space in a thriving commercial area. The property is situated in Newark, Delaware, offering a strategic location within a dynamic and growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $12,937,909

  6.5%

  $11,942,686

  7%

  $11,089,637

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,005,962

  Geo Method

  $6,780,846

• Alternative Use

  Use

  Valuation

  Residential

  $10,074,102

  Hospitality

  $9,227,823

  Educational

  $7,677,441

  Medical

  $7,941,480

  Retail

  $11,942,686

Location Insight

City

Newark

County

New Castle

State

Delaware

Latitude

39.6877

Longitude

-75.6525

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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