701 Capitol TrlNewark, DE 19711

Property Details for 701 Capitol Trl

Year built

1930

Construction

CONCRETE

Lot size

0.77 AC

Property size (Sq ft)

1,272 SF

Zone code

CR

Property type

Office properties

Property subtype

Other office properties

APN

08-059.00-017

APU

805900017

Description

This exceptional 0.41-acre commercial lot presents a remarkable opportunity for entrepreneurs and established businesses alike. Strategically located at 701 Capitol Trail in Newark, Delaware, this property boasts convenient access to both Kirkwood Highway and Capitol Trail, ensuring high visibility and easy accessibility for customers and employees. The land is completely level and has been cleared of trees and brush, eliminating the need for costly site preparation. Zoned CR, this lot allows for a wide range of commercial uses, providing flexibility for diverse business ventures. Imagine establishing your own landscaping business, utilizing the space for equipment storage, or creating a thriving retail operation. The possibilities are endless. Its prime location offers proximity to established businesses, including a Wendy's restaurant and the Possum Park Shopping Mall, ensuring high foot traffic and brand visibility. This is a rare opportunity to secure a well-situated, ready-to-develop commercial lot in a thriving Delaware community. Don't miss out on this chance to build your business in a highly desirable location. The lot is conveniently located behind a real estate office, adding to its accessibility and visibility. Act quickly to secure this exceptional property.

• CAP approach

  CAP return

  Valuation

  6%

  $543,617

  6.5%

  $501,800

  7%

  $465,958

• Comparable approach

  Method

  Valuation

  Relative Method

  $269,758

  Geo Method

  $166,200

• Alternative Use

  Use

  Valuation

  Residential

  $622,233

  Hospitality

  $569,962

  Educational

  $474,201

  Medical

  $490,510

  Retail

  $737,647

Location Insight

City

Newark

County

New Castle

State

Delaware

Latitude

39.6954

Longitude

-75.7192

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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