211 Lake DrNewark, DE 19702

Property Details for 211 Lake Dr

Year built

1988

Construction

CONCRETE

Lot size

4.65 AC

Property size (Sq ft)

40,914 SF

Zone code

BP

Property type

Office properties

Property subtype

Other office properties

APN

11-021.00-018

APU

1102100018

Description

This exceptional 15,460-square-foot flex space is situated within the prestigious Pencader Corporate Center, a 350-acre business park in Newark, Delaware. The single-story building boasts a steel and brick construction, offering a modern and durable workspace. High ceilings, ranging from 10 to 16 feet, provide ample vertical space, while one loading dock and one drive-in door ensure efficient loading and unloading. The property features 210 paved parking spaces, providing ample parking for employees and visitors. The building is fully conditioned and equipped with a robust power supply, including a 2000-amp, 3-phase electrical service (480/277V) and a substantial 800-amp backup generator, ensuring uninterrupted operations. The property is conveniently located on Route 896, offering easy access to Interstate 95 and Route 40. The Pencader Corporate Center itself is known for its attractive landscaping, wide boulevards, and underground utilities. This space is zoned BP and is currently entirely vacant, offering immediate occupancy. The entire 15,460 square feet is available, though it is divisible. The property's location within this well-maintained business park provides a professional and appealing environment for businesses of all sizes. The ample parking and convenient access to major roadways make this an ideal location for companies seeking a functional and well-situated industrial space. The building's features, including the high ceilings and robust power supply, make it suitable for a variety of industrial and flex uses.

• CAP approach

  CAP return

  Valuation

  6%

  $17,485,498

  6.5%

  $16,140,460

  7%

  $14,987,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,676,782

  Geo Method

  $5,345,823

• Alternative Use

  Use

  Valuation

  Residential

  $20,014,170

  Hospitality

  $18,332,872

  Educational

  $15,252,734

  Medical

  $15,777,299

  Retail

  $23,726,476

Location Insight

City

Newark

County

New Castle

State

Delaware

Latitude

39.615

Longitude

-75.7522

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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