5350 Summit Bridge RdMiddletown, DE 19709

Property Details for 5350 Summit Bridge Rd

Year built

2006

Construction

ADOBE

Lot size

3.50 AC

Property size (Sq ft)

25,000 SF

Zone code

23C-2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

23-013.00-048

APU

2301300048

Description

Cricklewood Grove, located at 5350 Summit Bridge Rd, Middletown, DE 19709, offers a diverse range of office spaces for lease. This Class B property, built in 2006, comprises two two-story buildings totaling 40,000 square feet on 3.5 acres of land. The property features a variety of suite sizes, with a minimum divisible space of 1,665 square feet and a maximum contiguous space of 2,200 square feet. Currently, 7,250 square feet are available across eight total suites. The property is zoned 23C-2 - DOWNTOWN COMMERCIAL and offers convenient access to major roadways including Route 71, Route 299/301, and Route 1, placing it within easy reach of Townsend, Odessa, and Smyrna. Amenities include one elevator. The property is ideal for various office uses, including traditional, executive, coworking, medical, and creative office spaces. Its suburban setting provides ample parking. The property boasts a strong tenant mix within Middletown's city limits. This is a prime opportunity for businesses seeking high-quality office space in a strategic location.

• CAP approach

  CAP return

  Valuation

  6%

  $13,248,532

  6.5%

  $12,229,414

  7%

  $11,355,885

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,217,855

  Geo Method

  $5,063,075

• Alternative Use

  Use

  Valuation

  Residential

  $12,229,414

  Hospitality

  $11,202,078

  Educational

  $9,319,997

  Medical

  $9,640,526

  Retail

  $14,497,773

Location Insight

City

Middletown

County

New Castle

State

Delaware

Latitude

39.4338

Longitude

-75.7125

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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