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Property profile & analytics
FOR LEASE
Warehouses

111 Ruthar Dr Newark, DE 19711

10,200 SF 1.66 ac lot Built 1994
Entity Owned 2-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US17-0136591
Property summary
AI-generated overview

This exceptional 16,000-square-foot industrial property at 111 Ruthar Drive in Newark, Delaware, presents a unique investment opportunity. Currently offering 3,300 square feet of immediately available space within a single-story, Class B building, this flex/warehouse space is perfect for a variety of businesses. The building sits on a 1.66-acre lot and features a 20-foot ceiling height, ideal for storage or high-volume operations. One loading dock and one dock-high door ensure efficient loading and unloading. Ample parking is available for employees and clients. The property is zoned for industrial use and benefits from a convenient location within the Harmony Industrial Park, providing easy access to major transportation arteries including I-95, Route 72, and Route 2, offering seamless connectivity throughout New Castle County. The landlord is open to negotiating tenant improvements, making this space adaptable to specific business needs. The existing tenant occupies the remaining space, creating a stable environment. This property offers a blend of functionality and accessibility, making it an attractive option for businesses seeking a strategic location in Delaware. The 19711 zip code provides access to a robust workforce and established infrastructure. This is a single-tenant building with significant potential for growth and customization.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1994
Construction CONCRETE
Total area 10,200 SF
Lot 1.66 ac (72,310 SF)
Zoning code I
APN 09-017.00-069
UPID US17-0136591
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Phar Merica Pharmacy
  • Elaine P. Voit, RPh Pharmacy
  • Gloria F. Akinkunmi, PharmD Pharmacy
  • Wayne C. Sartorio Sr, PharmD Pharmacy
  • Patricia A. Klishevich, RPH Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.56M
CAP Approach CAP
$1.22M
Comparable Approach Comparable
$755k
Blend (final) Blend
$1.23M
Owner & transaction history
111 Ruthar LLC · 2 yrs held
111 Ruthar LLC
since 2023
Last sale
$1.1M
7 recorded transactions
2023
Price N/A
2021
Price N/A
2021
Price N/A
2017
Price N/A
2010
$1.1M
1969
Price N/A
1969
Price N/A
Zoning & alternative use
I · Newark, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source BILL NO
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