Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1550 Matassino Rd New Castle, DE 19720
    Back to Search
    Property profile & analytics

    1550 Matassino Rd New Castle, DE 19720

    View on Map
    • Gas stations
    • 22.87 lot acres
    For Lease
    $560,000
    View Listing →
    Industrial Zoned Open Yard Lot For Lease
    $560,000

    Industrial Zoned Open Yard Lot

    3.75 acre industrial lot for contractor's yard or storage.

    1550 Matassino Rd, New Castle, DE 19720
    View Listing
    Property ID
    US17-0118703
    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.
    Value Estimations
    $560,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Quarles Fleet Fueling / Gas Company / Diesel Fuel Supplier
    • Arys Logistics Inc / Warehouse & Storage
    • Toon Truck & Trailer Repair / Auto Repair Shop
    • Quarles Petroleum / Gas Station

    Property Details for 1550 Matassino Rd

    Year built
    2007
    Construction
    CONCRETE
    Lot size
    22.87 lot acres
    Zone code
    I
    Property type
    Gas stations
    APN
    10-014.00-012
    APU
    1001400012

    Description

    This exceptional 3.75-acre lot, located at 1550 Matassino Rd in New Castle, Delaware, presents a unique opportunity for businesses seeking expansive outdoor space. Zoned Industrial (I), this property offers significant potential for various uses, including contractor yards, trailer parking, or general outdoor storage. Built in 2007, the land boasts a single-tenant occupancy and is conveniently situated for easy access to major transportation arteries. Its proximity to I-95, 495, and 295 ensures seamless connectivity to regional and national markets. Furthermore, the property benefits from its strategic location near the Port of Wilmington, Wilmington Airport (ILG), and Philadelphia International Airport (PHL), providing unparalleled logistical advantages. The expansive lot size provides ample room for operations and future expansion, making it an attractive investment for businesses requiring significant outdoor space in a well-connected location within New Castle County. The property's industrial zoning ensures flexibility for a wide range of commercial and industrial applications. This is a rare opportunity to acquire a substantial, strategically located industrial lot in a thriving Delaware market. The property is ready for immediate development or use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $560,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5787
    Latitude
    39.6876
    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
    $30,035
    $592,000
    $388,400
    $980,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,927 SF

      604 Frenchtown Rd

      GAS STATION • 1,927 SF
      604 Frenchtown Rd, New Castle, DE 19720-4114
      View Details
    • Value Estimation by Request
      6,930 SF

      71 Christiana Rd

      GAS STATION • 6,930 SF
      71 Christiana Rd, New Castle, DE 19720-3104
      View Details
    • Value Estimation by Request
      1,740 SF

      2036 New Castle Ave

      GAS STATION • 1,740 SF
      2036 New Castle Ave, New Castle, DE 19720-7703
      View Details
    • Value Estimation by Request
      1,557 SF

      1401 Dupont Hwy

      GAS STATION • 1,557 SF
      1401 Dupont Hwy, New Castle, DE 19720-1843
      View Details
    • Value Estimation by Request
      4,085 SF

      1604 Dupont Hwy

      GAS STATION • 4,085 SF
      1604 Dupont Hwy, New Castle, DE 19720-1904
      View Details
    • Value Estimation by Request
      1,488 SF

      3072 New Castle Ave

      GAS STATION • 1,488 SF
      3072 New Castle Ave, New Castle, DE 19720-2247
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Redevelopment Land Near Major Highway

      Land available for redevelopment with high traffic and utility access.
      4307 Wrangle Hill Rd, New Castle, DE 19720
      View Details
    • $2,100,000
      21,023 SF

      Automotive Property with Service Area

      Automotive property featuring service areas and ample parking.
      421-423 W 7Th St, New Castle, DE 19720
      View Details
    • Contact for pricing

      Prime Commercial Land on Dupont Highway

      High-traffic commercial land for ground lease near I-295.
      1560 N Dupont Hwy, Manor, DE 19720
      View Details
    • Contact for pricing

      Retail Endcap Opportunity

      Retail space available in New Castle, Delaware.
      501 E Basin Rd, New Castle, DE 19720
      View Details
    • Contact for pricing

      Retail Pad Site For Sale

      High-visibility retail pad site with direct highway access.
      2160 New Castle Ave, New Castle, DE 19720
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space with Ample Parking

      7,850 SF retail space at signalized intersection with parking.
      807 Churchmans Road Ext, New Castle, DE 19720
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Manor Park

      Retail space for lease in a renovated shopping center.
      1403 N Dupont Hwy, New Castle, DE 19720
      View Details
    • Contact for pricing
      1,000 SF

      Versatile Flex, Office, Retail Space

      Flex, office, and retail spaces available for lease.
      23 Parkway Cir, New Castle, DE 19720
      View Details
    • Contact for pricing
      5,400 SF

      Freestanding Retail Building For Lease

      Freestanding retail building with access from multiple streets.
      800 N Dupont Hwy, New Castle, DE 19720
      View Details
    • Contact for pricing
      2,329 SF

      Retail Space in Neighborhood Center

      Retail spaces available within an 88,188 SF neighborhood center.
      287 Christiana Rd, New Castle, DE 19720
      View Details
    • Contact for pricing
      21,000 SF

      Grocery Anchored Shopping Center Redevelopment

      Retail opportunity in redeveloped shopping center near I-295.
      2044 New Castle Ave, New Castle, DE 19720
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1550 Matassino Rd
    New Castle, DE 19720
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1550 Matassino Rd, New Castle, DE, 19720
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!