Automotive Property with Service
For Sale
Contact for pricing
421-423 W 7 St, New Castle, DE
Automotive property featuring service areas and ample parking.
Property Size21,023 SF
Lot Size0.38 Acres
Price / SF$99.89
Days on Market662
Property Features for 421-423 W 7 St
General Information
Standard status
Active
Size
21,023 SF
Lot size
0.38 Acres
Property subtype
RETAIL
Listing Agency:
LMT Commercial Realty / CORFAC International
(302) 383-1911
Listed By:
Chris Moore
(302) 383-1911
Source:
Moodyscre
Added: Oct 7, 2024
Changed: Jul 10
Last Checked: Jul 21 at 5:46AM
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 LMT Commercial Realty / CORFAC International
Investment Insights
Based on property information with market context.
The property at 421 W 7th St consists of approximately 0.59 acres improved by a 7,988 square foot building. The building is currently occupied by three tenants on month-to-month leases. The shop space includes six garage doors and an office. The lot provides an estimated 30 to 40 parking spaces. Adjacent to this, the properties at 423 W 7th St and 0 W 7th St encompass approximately 1.06 acres with parking. These lots are improved by a 13,025 square foot building that features a large auto service area, a waiting area, a bathroom, a part supply area, and an office. The combined lots offer an estimated 60 to 75 parking spaces. Additionally, a small adjacent lot at 0 Gray St, measuring approximately 0.06 acres, is included in the property. These properties are bisected by a public road.
Key Highlights
- Total of 1.65 +/- Acres across multiple parcels.
- Two buildings totaling 21,013 +/- SF.
- Significant parking capacity: estimated 90‑115 spaces across all lots.
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $189.2k | $9.00 |
| − Vacancy | −$19.9k | −$0.95 |
| EGI | $169.3k | $8.06 |
| − OpEx | −$50.8k | −$2.42 |
| NOI | $118.5k | $5.64 |
21,023 SF · lease $9.00/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.91M
$2.54M – $3.39M
NOI $203,524 @ 7.0% cap · market cap 9.69%
Second Best
Industrial
$1.69M
$1.48M – $1.98M
NOI $118,538 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$5.03M
$4.40M – $5.87M
NOI $351,996 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
12k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 14%
Dollar General
Shops & Services
6,819 visits/mo
0.4 miles
M&T Bank
Shops & Services
2,104 visits/mo
0.4 miles
Domino's Pizza
Dining
1,769 visits/mo
0.4 miles
M&T Bank
Shops & Services
1,753 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tito's Auto Services — 427 W 7th St, New Castle, DE 19720
- Trans Plus Inc — 423 W 7th St, New Castle, DE 19720
- Churchman's Auto Services — 202 E 6th St E, New Castle, DE 19720
- Fast Help Towing & RecoveryLLC. — 721 Ferry Cut Off St, New Castle, DE 19720
- Muldoon's Performance Transmissions — 610 South St, New Castle, DE 19720
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property featuring service areas and ample parking.
Where is this auto shop located?
The property is located at 421-423 W 7 St New Castle, DE.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Total of 1.65 +/- Acres across multiple parcels.; Two buildings totaling 21,013 +/- SF.; Significant parking capacity: estimated 90‑115 spaces across all lots.
