1 Reads WayNew Castle, DE 19720
- Office properties
- 34,287 SF
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
- Property subtype
- Other 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
- $16,772,397
- Hospitality
- $15,363,425
- Educational
- $12,782,190
- Medical
- $13,221,789
- Retail
- $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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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