Financial
Distress signals
Property profile

40 Mccullough Dr New Castle, DE 19720

FOR LEASE
Other warehouses
Property ID
US17-0219495
10,260 SF 3.77 ac lot Built 1998
Last sale Feb 2010 · $1,400,000
Individually Owned Owner of record is an individual. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property consists of a 21,500-square-foot industrial building constructed in 1998, with the capacity for additional expansion. Approximately 10,000 square feet of the building is office space, with the remainder configured as warehouse/industrial space. The property is zoned I-Industrial and includes both dock and drive-in loading. It is situated in an established business park in the New Castle area, providing access to I-95, the Delaware Memorial Bridge, and other major highways.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2024

What does the county charge?
$18k
Tax billed · 2024
Assessed value$531k
Assessed land$166k
Assessed improvement$366k
Effective rate3.33%

Value estimate

· Sep 2026
$450k
$405k – $495k
CAP approach$1.23M
Submarket $/SF estimate$985k
NOI build-up
Gross scheduled income$189k
Vacancy & credit loss−$20k
Operating expenses−$51k
NOI · 1,578,773.33% cap applied$118k

Realmo valuation models over county records and 8 qualifying comparable sales.

Recently sold

What actually traded nearby?
$137/SF
County average, outlier-cleaned · 41 recorded sales of this use type
Observed band · Q1–Q3$67 – $198
Qualifying comparables8

Cap rate analysis

How does the asset earn?
1,578,773.33%
$118k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
I
The I district is intended to provide for industrial expansion within the city. Industrial uses which may be objectionable or have advers...
General categoryINDUSTRIAL
JurisdictionNEW CASTLE

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency55.2
Law Firm37.5
Restaurant36.0

Location

40 Mccullough Dr New Castle, DE 19720
County assessor Recorded deeds · 6 transfers 8 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 15 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
459 Old Airport, New Castle, DE 19720-1001 $600,000 Jun 2022 4,000 SF
900 Uniqema, New Castle, DE 19720-2789 $1,300,000 Jan 2022 11,568 SF
401 Dupont, New Castle, DE 19720-4605 $500,000 Nov 2021 3,500 SF
615 Lambson, New Castle, DE 19720-2103 $5,500,000 Oct 2019 29,889 SF
324 Dupont, New Castle, DE 19720-4621 $352,000 May 2019 2,760 SF
950 Red Lion, New Castle, DE 19720-5205 $7,538,376 Apr 2019 19,665 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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