3 Lewis CirWilmington, DE 19804

Property Details for 3 Lewis Cir

Year built

1995

Construction

CONCRETE

Lot size

0.60 AC

Property size (Sq ft)

5,000 SF

Zone code

I

Property type

Warehouses

APN

07-043.30-182

APU

704330182

Description

This exceptional 5,000-square-foot freestanding flex building presents a unique opportunity in Wilmington, Delaware. Built in 2000, the single-tenant property sits on a 0.6-acre lot and boasts a desirable blend of industrial and office space. The building features 600 square feet of dedicated office space, perfectly suited for administrative functions or client meetings. Efficient operations are ensured with one loading dock and one drive-in bay, facilitating seamless loading and unloading of goods. Security is enhanced by a fully fenced yard, providing ample private parking and added peace of mind. The high 15-foot ceilings maximize vertical space, while the A-Frame masonry construction ensures durability and longevity. Recent improvements include freshly painted walls and an energy-efficient LED lighting system, reducing operational costs. The property's strategic location offers easy access to major transportation arteries, including Route 141, Route 13, Route 1, I-95, I-295, and I-495, providing convenient access to the entire northern New Castle County area and beyond. The industrial zoning (I) allows for a wide range of potential uses, making this a versatile and attractive investment. The property is currently vacant, offering immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $4,682,160

  6.5%

  $4,321,990

  7%

  $4,013,280

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,696,590

  Geo Method

  $1,045,280

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $2,231,790

  Mixed-Use / Specialty

  $2,236,050

  Hospitality / Lodging

  $1,656,420

  Office

  $2,235,480

  Institutional / Educational

  $2,328,950

  Residential Income

  $2,724,880

  Multifamily

  $3,200,370

  Automotive / Energy

  $1,996,250

  Parking / Income-Based Land

  $676,815

  Restaurant / Food Service

  $1,189,050

  Healthcare / Senior Housing

  $2,280,500

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.7204

Longitude

-75.5858

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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