607 Newport PikeWilmington, DE 19804

Property Details for 607 Newport Pike

Year built

1988

Construction

CONCRETE

Lot size

4.94 AC

Property size (Sq ft)

33,800 SF

Zone code

CN

Property type

Community centers

APN

07-047.10-134

APU

704710134

Description

Greystone Plaza, located at 607 W Newport Pike in Wilmington, Delaware (19804), presents a unique opportunity for a single-tenant occupancy. This 1,200 square foot space is situated within a larger 34,000 square foot Class B commercial center, built in 1993. The property features a single, one-story building on a 4.94-acre lot, offering ample parking for tenants and visitors. The zoning is CN - UDC - COMMERCIAL NEIGHBORHOOD (APN: 0704710134). This versatile space is ideal for medical office, professional office, or retail use, benefiting from its location on Route 4, just outside Newport. The property enjoys excellent road visibility and signage opportunities, ensuring high traffic exposure. Its strategic location provides easy access to major roadways including Routes 141, I-95, and I-495, enhancing convenience for both employees and clients. This is the only available unit in this thriving office and retail center with a strong tenant mix. Contact us for rental rate information.

• CAP approach

  CAP return

  Valuation

  6%

  $16,344,200

  6.5%

  $15,086,900

  7%

  $14,009,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,454,810

  Geo Method

  $4,592,960

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $29,216,700

  Mixed-Use / Specialty

  $15,115,700

  Hospitality / Lodging

  $11,197,400

  Office

  $15,111,900

  Institutional / Educational

  $15,743,700

  Residential Income

  $18,420,200

  Multifamily

  $21,634,500

  Automotive / Energy

  $13,494,600

  Parking / Income-Based Land

  $4,575,270

  Restaurant / Food Service

  $8,037,970

  Healthcare / Senior Housing

  $15,416,200

Location Insight

City

Wilmington

County

New Castle

State

Delaware

Latitude

39.7146

Longitude

-75.6163

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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