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    31 Reads Way New Castle, DE 19720

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    For Sale
    Contact for pricing

    Two flex buildings on 11.9 acres in New Castle, DE.

    Property size:
    76,139 SF
    Lot size:
    11.87 Acres

    Property Features for 31 Reads Way

    General Information

    Size
    76,139 SF
    Lot size
    11.87 Acres

    Source: DSM Commercial Agent Gordon Winegar

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Versatile Flex Buildings For Sale

    Two one-story flex buildings, situated on 11.9 acres in New Castle County, Delaware, are available for sale. Constructed in 1987-1988, the property includes 31 Reads Way (48,563 SF) and 47 Reads Way (27,576 SF). The buildings are currently configured as offices and student classrooms for Wilmington University. These well-maintained buildings present an exceptional opportunity for flexible use following subdivision. The property has access to I-95, I-495, I-295, U.S. 13 and S.R 1 and is located adjacent to the New Castle County Airport. The property includes 18' ceilings for flex users and ample parking with approximately 450 spaces. The property is approved for an additional 16,000 SF expansion and has 2 docks (19 docks can be reinstalled).
    Insight Report Location Intelligence

    Current Use by Public Records

    Wilmington University, Wilson ... College M&T Bank ATM Atm School School

    Suggested Use

    Realty agency Law Firm Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Gym & Fitness Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6124983
    Latitude
    39.6895401

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    FAQs

    What type of property is this?
    Office building - Two flex buildings on 11.9 acres in New Castle, DE.
    Where is this office building located?
    The property is located at 31 Reads Way New Castle, DE.
    What are key features of this property?
    This property features: - Two buildings totaling 76,139 SF on 11.9 acres, offering flexible use potential after subdivision.; - Excellent location with immediate access to I-95, I-495, I-295, U.S. 13 and S.R 1.; - Ample parking with +\/- 450 spaces.
    (302) 757-5353
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    31 Reads Way New Castle, DE 19720
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    31 Reads Way New Castle, DE 19720
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