Centrally Located Retail
For Sale
$950,000
2400 Wilmington Road, New Castle, PA 16105
Retail storefront in a central retail corridor, well-suited for neighborhood-serving concepts.
Property Size8,400 SF
Days on Market93
Property Features for 2400 Wilmington Road
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Retail
Building Details
Building Size
8,400 SF
Listed By:
Rokki Rogan, CDPE
(239) 823-5500
Source:
Lqcre
Added: Jun 3
Changed: Sep 2
Last Checked: Sep 2 at 4:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rokki Rogan, CDPE
Investment Insights
Based on property information with market context.
This offering is a retail storefront property in a centrally located retail corridor. The information provided does not describe unit layout, building size, or specific interior improvements, but the asset is presented for sale as a retail use property.
The property is located at 2400 Wilmington Road in New Castle, Pennsylvania, and is described as being centrally located within an established retail corridor. No additional details are provided regarding frontage, access, signage, parking, or nearby tenants.
For a buyer or operator seeking a retail-focused site, this property fits the need for a storefront environment within a retail corridor. Since no further specifications are included, prospective buyers should confirm the current configuration and any build-out or leasing considerations during due diligence.
The property is located at 2400 Wilmington Road in New Castle, Pennsylvania, and is described as being centrally located within an established retail corridor. No additional details are provided regarding frontage, access, signage, parking, or nearby tenants.
For a buyer or operator seeking a retail-focused site, this property fits the need for a storefront environment within a retail corridor. Since no further specifications are included, prospective buyers should confirm the current configuration and any build-out or leasing considerations during due diligence.
Key Highlights
- Retail storefront in a central retail corridor
- Well‑suited for neighborhood‑serving concepts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,854
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,397,080
$1.4M
Cap Rate 7%
$997,914
$997.9K
Cap Rate 9%
$776,156
$776.2K
Market Conditions
NOI Build-Up for 8,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$110.9K $13.20/SF
− Vacancy
−$11.1K −$1.32/SF
EGI
$99.8K $11.88/SF
− OpEx
−$29.9K −$3.56/SF
NOI
$69.9K $8.32/SF
Area
Lawrence County, PA
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,397,080
Cap Rate 7%
$997,914
Cap Rate 9%
$776,156
Alternative Uses
Best Use
Retail
$997.9K
$873.2K – $1.16M
NOI $69,854 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.20M
$8.93M – $11.90M
NOI $714,187 @ 7.0% cap · market cap 75.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 86%
Shops & Services 12%
Home Improvements & Furnishings 2%
McDonald's
Dining
23,789 visits/mo
0.2 miles
Dunkin' Donuts
Dining
16,939 visits/mo
0.3 miles
SUBWAY
Dining
3,771 visits/mo
0.1 miles
Hoss's Steak & Sea House
Dining
3,397 visits/mo
0.1 miles
Sunoco
Shops & Services
3,103 visits/mo
0.5 miles
Demographics for 16105, PA
15,420
Population
7,249
Households
2.1
Avg Household Size
49
Median Age
35%
College-Educated
95%
High-School Grad
25.6 sq mi
ZIP Area
602
Density / Sq Mi
$67,256
Median Household Income
$46,539
Median Earnings
$965
Median Rent
$175,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail storefront in a central retail corridor, well-suited for neighborhood-serving concepts.
Where is this retail space located?
The property is located at 2400 Wilmington Road New Castle, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Retail storefront in a central retail corridor; Well‑suited for neighborhood‑serving concepts
