1 Reads WayNew Castle, DE 19720

Property Details for 1 Reads Way

Year built

1988

Construction

BRICK

Lot size

5.58 AC

Property size (Sq ft)

34,287 SF

Zone code

BP

Property type

Office properties

APN

10-013.00-030

APU

1001300030

Description

This exceptional investment opportunity presents a 64,126-square-foot Class A suburban medical office building situated on a generous 5.58-acre lot in desirable New Castle County, Delaware. The two-story building boasts a premier location, offering significant visibility and accessibility along Commons Boulevard. Its strategic placement ensures easy access for both tenants and visitors. The property is ideally situated within a vibrant commercial area, providing tenants with a full array of amenities within a short distance. These include a variety of restaurants, hotels, an airport, and ample shopping options, all within a few miles of the building. This makes it an attractive location for medical professionals and their patients. The building's substantial size and prime location make it an excellent investment opportunity for those seeking a high-quality, well-situated medical office property in a thriving Delaware market. The address is 1 Reads Way, New Castle, DE 19720. This property offers a unique chance to acquire a significant asset in a highly sought-after area.

• CAP approach

  CAP return

  Valuation

  6%

  $14,653,304

  6.5%

  $13,526,127

  7%

  $12,559,975

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,271,370

  Geo Method

  $4,479,940

• Alternative Use

  Use

  Valuation

  Residential Income

  $16,772,397

  Hospitality / Lodging

  $15,363,425

  Institutional / Educational

  $12,782,190

  Healthcare / Senior Housing

  $13,221,789

  Retail / Commercial

  $19,883,406

Location Insight

City

New Castle

County

New Castle

State

Delaware

Latitude

39.6885

Longitude

-75.6082

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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