12 Reads Way, New Castle, DE 19720-1649
This exceptional three-story, 106,878-square-foot Class B office building in New Castle, Delaware, presents a compelling investment opportunity. Located within the Corporate Commons Business Park, this prominent property boasts a substantial 35,600-square-foot floor plate and ample parking (874 spaces). Built in 1987 and situated on a 6.39-acre lot, the building is currently vacant, offering flexibility for an owner-user seeking a flagship headquarters or an investor looking to create a multi-tenant environment. The property features multiple updates to building systems and interiors, and benefits from an EPDM roof warranty extending to November 2026. Its strategic location offers easy access to Wilmington Airport, I-95, I-295, and Route 273. The flexible Business Park (BP) zoning allows for a diverse range of uses, including office, medical, research and development, industrial, and commercial, making it an ideal candidate for redevelopment. The asking price is $4,750,000, translating to $44.44 per square foot. This presents a rare opportunity to acquire a large, well-maintained office building in a thriving Delaware business park.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
BP · New Castle, DENew Castle. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.