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Financial
Distress signals
Property profile

1 Reads Way New Castle, DE 19720

OFF-MARKET
Office Spaces
Property ID
US17-0219006
34,287 SF 5.58 ac lot Built 1988
Last sale May 2025
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This exceptional investment opportunity presents a 64,126-square-foot Class A suburban medical office building situated on a generous 5.58-acre lot in desirable New Castle County, Delaware. The two-story building boasts a premier location, offering significant visibility and accessibility along Commons Boulevard. Its strategic placement ensures easy access for both tenants and visitors. The property is ideally situated within a vibrant commercial area, providing tenants with a full array of…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$117k
Tax billed · 2023
Assessed value$3.83M
Assessed land$307k
Assessed improvement$3.52M
Effective rate3.06%

Value estimate

· Oct 2026
$6.16M
$5.54M – $6.77M
CAP approach$5.38M
Submarket $/SF estimate$6.04M

Realmo valuation models over county records and 11 qualifying comparable sales.

Recently sold

What actually traded nearby?
$280/SF
County average, outlier-cleaned · 109 recorded sales of this use type
Observed band · Q1–Q3$156 – $456
Qualifying comparables11

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
BP
JurisdictionNEW CASTLE

Location intelligence

Which uses thrive at this corner?
Best fit: Hair Salon
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Hair Salon11.4
Pharmacy10.8
Parking Facility10.7

Location

1 Reads Way New Castle, DE 19720-1605
County assessor Recorded deeds · 2 transfers 11 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 14 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
31 Reads, New Castle, DE 19720-1648 $170,000 Mar 2025 12,690 SF
3020 Bowlarama, New Castle, DE 19720-1317 $765,000 Mar 2023 3,000 SF
290 Churchmans, New Castle, DE 19720-3110 $2,000,000 Dec 2020 2,400 SF
4093 New Castle, New Castle, DE 19720-1414 $7,050,000 Oct 2020 2,000 SF
613 Lambson, New Castle, DE 19720 $5,500,000 Oct 2019 6,580 SF
25 7th, Historic New Castle, DE 19720-5001 $400,000 Apr 2019 1,728 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby

Comparable nearby

  • Value Estimation
    $2,845,000
    25,905 SF
    92 Reads Way, Unit 1
    OFFICE (GENERAL)
    92 Reads Way, New Castle, DE 19720-1631
    View Details
  • Value Estimation
    $2,665,000
    25,321 SF
    314 Cherry Ln
    OFFICE (GENERAL)
    314 Cherry Ln, New Castle, DE 19720-2784
    View Details
  • Value Estimation
    $2,625,000
    24,050 SF
    11 Reads Way
    OFFICE (GENERAL)
    11 Reads Way, New Castle, DE 19720-1648
    View Details
  • Value Estimation
    $2,055,000
    19,700 SF
    1615 Brett Rd
    OFFICE (GENERAL)
    1615 Brett Rd, New Castle, DE 19720-2425
    View Details
  • Value Estimation
    $1,700,000
    7,755 SF
    20 Corporate Cir
    OFFICE (GENERAL)
    20 Corporate Cir, New Castle, DE 19720
    View Details
  • Value Estimation
    $990,000
    7,115 SF
    19 Cmns Blvd
    OFFICE (GENERAL)
    19 Cmns Blvd, New Castle, DE 19720-2260
    View Details

Similar Nearby for Sale

  • New
    Contact for pricing
    1,300 SF
    Professional Office Suite with Basement
    Functional office workspace with supplemental storage, convenient parking, and access to major regional routes.
    189 Christiana Rd, New Castle, DE 19720
    View Details
  • New
    Contact for pricing
    1,140 SF
    Office Space in Airport Business Park
    Office space featuring three offices, conference room, and breakroom.
    94A Quigley Boulevard, New Castle, DE 19720
    View Details

Similar Nearby for Lease

  • New
    Contact for pricing
    Renovated Office Campus
    Renovated lobby and on-site management in an office campus with ample parking and convenient highway access.
    New Castle, DE 19720
    View Details
  • New
    $18 SF/Yr
    43,000 sqft
    Single-Story Flex Office Building
    43,000 SF flex office with expansion potential on 11.49 acres.
    118 Lukens Dr, New Castle, DE 19720
    View Details
  • $14 SF/Yr
    20,000 sqft
    Flex, Office, and Retail Spaces
    Flex warehouse, office, and retail spaces available for lease.
    22 Parkway Circle, New Castle, DE 19720
    View Details
  • New
    $16.50 SF/Yr
    9,190 sqft
    Office Space with Ample Parking
    Office space with ground-level access and custom fit-out options.
    908 B Churchmans Road Ext., New Castle, DE 19720
    View Details
  • Contact for pricing
    6,415 sqft
    Divisible Two-Story Office Space
    Divisible two-story office space with large windows for natural light and free on-site parking.
    92 Reads Way, New Castle, DE 19720
    View Details
  • Contact for pricing
    4,715 sqft
    Former Bank & Office Space
    Retail and office space available for short-term lease.
    1424 N Dupont Hwy, Wilmington, Manor, DE 19720
    View Details
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