Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    22 Parkway Cir New Castle, DE 19720

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $14 SF/Yr

    Flex warehouse, office, and retail spaces available for lease.

    We can help!

    Listing Contact
    Jeff Shahan, Sior
    Source: Sbrealtyco

    Listing Agent: Jeff Shahan, Sior

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

    Learn more

    Overview

    Flex, Office, and Retail Spaces

    Churchmans Center, offering flex warehouse, office, and retail spaces, is located off Route 273/Christiana Road, near the intersection of Routes 13 and 273, and close to the New Castle Airport. The center provides units and buildings ranging from 800 to 25,000 square feet. The property is zoned BP (Business Park) and CR (Commercial Regional), accommodating a wide array of uses. Available units include 3,000 and 2,000 square feet options. The spaces feature 14 to 22-foot clear heights and grade-level 10'x10' drive-in doors. Electrical service is 3 Phase 200A. The rear office area includes A/C. Ample parking is available.
    Location Intelligence

    Current Use by Public Records

    Japanese Mini Truck ... Importer Wright Way Detailing Car Wash Harvest Intercontinental Church ... Church Life Chapel International Church Consolation Fellowship Church

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Finger Lickinn Food

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6155514
    Latitude
    39.6630384

    Nearby Similar for Lease

    • $15,000 /Mo
      109,771 SF

      Versatile Commercial Space in NEW CASTLE

      24,000 sq ft retail, warehouse, or entertainment space available.
      791 S Dupont Hwy, New Castle, DE 19720
      View Details
    • $15,000 /Mo

      Versatile Commercial Space For Lease

      24,000 sq ft commercial space suitable for retail/warehouse/entertainment.
      791 S Dupont Hwy, New Castle, DE 19720
      View Details
    • $10 SF/Yr

      New Castle Warehouse Distribution Space

      Industrial/warehouse space near major highways with fenced parking.
      3020 Bowlarama Dr, New Castle, DE 19720
      View Details
    • $18 SF/Yr

      Single-Story Flex Office Building

      43,000 SF flex office with expansion potential on 11.49 acres.
      118 Lukens Dr, New Castle, DE 19720
      View Details
    • Contact for pricing
      10,094 SF

      Industrial Flex Space Available

      10,094 SF flex space with office in Airport Industrial Park.
      34 Blevins Dr, New Castle, DE 19720
      View Details
    • Contact for pricing
      114,555 SF

      Industrial Warehouse Space Available

      119,893 SF industrial space near major transportation routes.
      399 Churchmans Road Ext, New Castle, DE 19720
      View Details
    • Contact for pricing
      837,200 SF

      New Castle County Warehouse Space

      Warehouse space in New Castle County, Delaware, divisible to suit.
      124 Christiana Rd, New Castle, DE 19720
      View Details
    • $12 SF/Yr

      Flex Warehouse Space Available

      Move-in ready flex/warehouse with heavy electric and high ceilings.
      259 Quigley Blvd, New Castle, DE 19720
      View Details
    • Contact for pricing
      50,000 SF

      Warehouse/Distribution Facility For Lease

      50,000 SF Class A warehouse/distribution facility with excellent access.
      70 Mccullough Dr, New Castle, DE 19720
      View Details
    • $10 SF/Yr

      New Castle Warehouse Distribution Space

      7,500 SF warehouse space with fenced parking in New Castle.
      3020 Bowlarama Dr, New Castle, DE 19720
      View Details
    • Contact for pricing
      21,000 SF

      Grocery Anchored Shopping Center Redevelopment

      Retail opportunity in redeveloped shopping center near I-295.
      2044 New Castle Ave, New Castle, DE 19720
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex warehouse, office, and retail spaces available for lease.
    Where is this flex space located?
    The property is located at 22 Parkway Cir New Castle, DE.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - Located immediately off Rt 273 / Christiana Road near the intersection of Route 13 and 273.; - Mixed zoning of BP (Business Park) and CR (Commercial Regional) allows for a wide array of uses.; - Units available from 800 SF to 25,000 SF.
    (302) 545-2392
    Request Owner's contact information
    22 Parkway Cir New Castle, DE 19720
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    22 Parkway Cir
    New Castle, DE 19720
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    22 Parkway Cir New Castle, DE 19720
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeff Shahan, Sior
    (302) 545-2392
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!