Property profile

45 Main St Newark, DE 19711

OFF-MARKET
Retail space
Property ID
US17-0121121
21,476 SF 0.72 ac lot Built 1996
Entity Owned 4-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 1,500 square foot retail space is located on Newark's vibrant Main Street, offering unparalleled visibility and accessibility. Situated on the second floor of a two-story building constructed in 1996, this unit benefits from abundant natural light thanks to large windows overlooking Main Street and additional storefront windows and doors opening into the building's common area. The space is part of a larger 41,452 square foot multi-tenant building, sharing the building with established businesses such as CVS, Grotto Pizza, and Brew Haha. The building is conveniently served by an elevator, ensuring easy access for customers and employees. Ample parking is readily available in a large municipal lot located directly behind the building, providing over 200 parking spaces for patrons. The building's common area is strategically positioned, accessible from both Main Street and Delaware Avenue, creating a high pedestrian traffic flow. This prime location is in the heart of the University of Delaware campus, guaranteeing a consistent flow of potential customers. The property is zoned 18BB within New Castle County, Delaware. This space presents a unique opportunity for a business seeking high visibility and a strong location within a thriving commercial district. The building's existing tenant mix provides a synergistic environment, attracting a diverse customer base. This is a rare opportunity to establish a presence in a highly desirable location.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1996
Construction CONCRETE
Total area 21,476 SF
Lot 0.72 ac (31,363 SF)
Zoning code 18BB
APN 18-020.00-064
UPID US17-0121121

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Cosmetic Store
  • (Bike/Boat/Book/etc) Store Cosmetic Store
  • Restaurant
  • Eye Care Center Optometrist
  • Student Housing Center

Location

45 Main St Newark, DE 19711-4686
Newark metro Census 14502 PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.20M
Comparable Approach Comparable
$2.93M
Blend (final) Blend
$900k

Owner & transaction history

since 2021
3 recorded transactions
2021
Price N/A
2012
Price N/A
2007
$10

Zoning & alternative use

18BB · Newark, DE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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