423 Broad StMiddletown, DE 19709

Property Details for 423 Broad St

Year built

1916

Construction

CONCRETE

Lot size

0.29 AC

Property size (Sq ft)

3,774 SF

Zone code

23C-2

Property type

Retail properties

Property subtype

Retail space

APN

23-005.00-062

APU

2300500062

Description

This exceptional 10,166 square foot retail space is ideally situated at 423 N. Broad Street in Middletown, Delaware, within the vibrant 23C-2 Downtown Commercial zoning district. The property boasts a single-tenant occupancy, offering a blank canvas for a wide range of commercial ventures. The entire building is currently vacant, presenting a unique opportunity for a business seeking immediate occupancy. The generous lot size of 0.29 acres provides ample space for potential expansion or outdoor amenities. Located in New Castle County, this property benefits from excellent visibility and accessibility, making it an attractive location for businesses seeking high foot traffic and convenient access for customers. The address, 423 N. Broad St, Middletown, DE 19709, places the property within a thriving commercial area, offering significant potential for growth and success. The property's size and zoning make it suitable for a variety of retail uses, subject to local regulations and approvals. This is a rare opportunity to secure a substantial retail space in a desirable location. Interested parties are encouraged to act quickly. The property is available for lease.

• CAP approach

  CAP return

  Valuation

  6%

  $2,370,966

  6.5%

  $2,188,584

  7%

  $2,032,256

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,016,922

  Geo Method

  $1,242,639

• Alternative Use

  Use

  Valuation

  Residential

  $1,846,152

  Hospitality

  $1,691,066

  Educational

  $1,406,947

  Medical

  $1,455,334

  Retail

  $2,188,584

Location Insight

City

Middletown

County

New Castle

State

Delaware

Latitude

39.454

Longitude

-75.7177

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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