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    118 Lukens Dr New Castle, DE 19720

    Sponsored
    For Lease
    $18 SF/Yr

    43,000 SF Single-Tenant Office, Delaware

    Lot size:
    43,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 43,000-square-foot, single-story executive office building presents a unique investment opportunity in New Castle, Delaware. Situated on an expansive 11.49-acre lot within the Riveredge Park, this Class C property boasts stunning views of the Delaware Memorial Bridge. Built in 1999, the building currently features a flexible, open floor plan, previously configured as a call center. The property's strategic location offers unparalleled access to major transportation arteries, including I-95, 495, 295, SR1, and SR13, providing convenient commutes to Wilmington (five minutes), Philadelphia (30 minutes), Baltimore/DC (one hour), and New York City (two hours). Ample parking is available with 351 spaces (an 8:1,000 ratio). The building is zoned IOP (Industrial Office Park) and features a robust 600 KW, 480V Generac backup generator, ensuring uninterrupted operations. Further enhancing its potential, the building's design allows for expansion by an additional 40,000 square feet, presenting significant growth opportunities. The property is located within the city limits of New Castle and has the APN 21-002.00-062. This is a truly remarkable opportunity to acquire a substantial, well-located office building with significant expansion potential.

    Property Features for 118 Lukens Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    43,000 SF
    Class
    C
    Total Rate
    64500

    Building Details

    Year Built
    1999
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space
    Size
    43,000 SF
    Rate per SF
    $18
    Property Profile Location Intelligence

    Current Use by Public Records

    HBCS Medical Billing Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5446831
    Latitude
    39.6858229

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    FAQs

    What type of property is this?
    Office Property / Space - 43,000 SF Single-Tenant Office, Delaware
    Where is this office property / space located?
    The property is located at 118 Lukens Dr New Castle, DE.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    Request Owner's contact information
    118 Lukens Dr New Castle, DE 19720
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    New Castle, DE 19720
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    Realmo Value Estimation

    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.

    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.

    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
    118 Lukens Dr New Castle, DE 19720
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