399 Churchmans RdNew Castle, DE 19720

Property Details for 399 Churchmans Rd

Year built

1983

Construction

STONE

Lot size

8.63 AC

Property size (Sq ft)

40,900 SF

Zone code

I

Property type

Refrigeration & cold storage

APN

10-024.00-084

APU

1002400084

Description

This exceptional Class A industrial property, located at 399 Churchmans Road in New Castle, Delaware (zip code 19720), offers 117,300 square feet of versatile space ideal for refrigerated storage, warehousing, or flex use. Currently vacant, this single-tenant building boasts significant improvements underway. Built in 1983 with expansions in 1991, 1999, and 2009, the property features 12 existing dock doors (expandable to approximately 20), a 26-foot clear height, and a column spacing of approximately 50' x 50'. Ample parking is available, including 139 car parking spaces (4 handicapped accessible) and up to 48 additional trailer spots. The property includes a 3,500 lb. capacity hydraulic elevator and an on-site fuel station. Power is robust, with 1,200 AMP, 480V 3-phase power in the warehouse (additional 600 AMP and 800 AMP, 480V 3-phase power also available). The property is zoned I (Industrial) and its tax parcel number is 10-024.00-84. Benefit from its strategic location near Routes 13 and 273, Interstate I-95, the New Castle County Airport, Amazon's 3.8M SF facility, the Delaware Memorial Bridge (5 miles), and the Port of Wilmington (7 miles). This prime location offers access to a total population of 88,837,130 within an eight-hour drive.

• CAP approach

  CAP return

  Valuation

  6%

  $38,300,000

  6.5%

  $35,353,900

  7%

  $32,828,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,878,100

  Geo Method

  $8,550,390

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $18,256,100

  Mixed-Use / Specialty

  $18,290,900

  Hospitality / Lodging

  $13,549,500

  Office

  $18,286,300

  Institutional / Educational

  $19,050,800

  Residential Income

  $22,289,500

  Multifamily

  $26,179,000

  Automotive / Energy

  $16,329,300

  Parking / Income-Based Land

  $5,536,340

  Restaurant / Food Service

  $9,726,420

  Healthcare / Senior Housing

  $18,654,500

Location Insight

City

New Castle

County

New Castle

State

Delaware

Latitude

39.6705

Longitude

-75.6181

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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