2405 Pulaski HwyNewark, DE 19702

Property Details for 2405 Pulaski Hwy

Year built

1960

Construction

CONCRETE

Lot size

0.25 AC

Property size (Sq ft)

1,161 SF

Zone code

CR

Property type

Retail space

APN

11-026.00-044

APU

1102600044

Description

This exceptional 1,200 square foot storefront, located at 2405 Pulaski Highway in Newark, Delaware, presents a compelling investment opportunity. Situated on a 0.25-acre lot (APN 1102600044), this single-story building, constructed in 1960, benefits from a highly visible location at the intersection of US Route 40 and old Route 896, providing excellent exposure to high traffic counts. Its strategic position offers easy access to major thoroughfares including Route 40, Route 896, and I-95, connecting businesses to key markets in Delaware and Maryland. The property is zoned CR and currently occupied by a tenant, with the lease expiring January 31, 2025. The surrounding area is experiencing significant growth, featuring a diverse mix of residential and commercial developments, including proximity to the Peoples Plaza Shopping Center. This presents a unique chance to acquire a well-positioned retail space in a thriving Delaware community. The asking price is $695,000.

• CAP approach

  CAP return

  Valuation

  6%

  $561,407

  6.5%

  $518,222

  7%

  $481,206

• Comparable approach

  Method

  Valuation

  Relative Method

  $256,066

  Geo Method

  $157,764

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,003,570

  Mixed-Use / Specialty

  $519,210

  Hospitality / Lodging

  $384,620

  Office

  $519,079

  Institutional / Educational

  $540,783

  Residential Income

  $632,716

  Multifamily

  $743,125

  Automotive / Energy

  $463,528

  Parking / Income-Based Land

  $157,156

  Restaurant / Food Service

  $276,097

  Healthcare / Senior Housing

  $529,533

Location Insight

City

Newark

County

New Castle

State

Delaware

Latitude

39.6058

Longitude

-75.7457

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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