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    118 Lukens Dr New Castle, DE 19720

    • Office Properties & Spaces
    • 43,122 SF
    • 11.49 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimation
    $970,000
    Location Intelligence
    Property ID
    US17-0259171
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • HBCS / Medical Billing Service

    Property Details for 118 Lukens Dr

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    11.49 lot acres
    Property size
    43,122 SF
    Zone code
    21IOP
    Property type
    Office Properties & Spaces
    APN
    21-002.00-062
    APU
    2100200062

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $975,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,025,000
      6.5%
      $1,085,000
      7%
      $1,040,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,085,000
      Geo Method
      $955,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,095,000
      Retail
      $1,075,000
      Mixed-Use
      $895,000
      Hospitality
      $965,000
      Educational
      $910,000
      Residential Income
      $1,110,000
      Energy
      $1,060,000
      Income-Based Land
      $915,000
      Food Service
      $1,175,000

    Location Insight

    • Map
    • Local Demand
    City
    Historic New Castle
    County
    New Castle
    State
    Delaware
    Longitude
    -75.544
    Latitude
    39.6859
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $43,797
    $236,200
    $1,440,300
    $1,676,500
    -
    $0.00
    $0.00
    $0.00

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    Similar Nearby for Lease

    • $14 SF/Yr
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      Riveredge Park Executive Office Space

      Delaware Executive Office Suite Available
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      View Details
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    • $18 SF/Yr
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      Executive Office Building, New Castle DE

      43,000 SF Single-Tenant Office, Delaware
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    • $16 SF/Yr
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    118 Lukens Dr
    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
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