45 Main St Newark, DE 19711
- Retail space
- 21,476 SF
- 0.72 lot acres
Current Use by Public Records
- Retail space
Property Details for 45 Main St
- Year built
- 1996
- Construction
- CONCRETE
- Lot size
- 0.72 lot acres
- Property size
- 21,476 SF
- Zone code
- 18BB
- Property type
- Retail space
- APN
- 18-020.00-064
- APU
- 1802000064
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $900,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $950,000
- 6.5%
- $945,000
- 7%
- $970,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,060,000
- Geo Method
- $920,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,040,000
- Retail
- $870,000
- Mixed-Use
- $1,150,000
- Hospitality
- $1,180,000
- Educational
- $860,000
- Residential Income
- $990,000
- Energy
- $1,110,000
- Income-Based Land
- $865,000
- Food Service
- $1,160,000
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- New Castle
- State
- Delaware
- Longitude
- -75.7517
- Latitude
- 39.6829
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
