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Property profile & analytics
OFF-MARKET Estimated value $4,505,000
Refrigerated & Cold Storage

399 Churchmans Rd New Castle, DE 19720-3111

40,900 SF 8.63 ac lot Built 1983
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US17-0204025
Property summary
AI-generated overview

This exceptional Class A industrial property, located at 399 Churchmans Road in New Castle, Delaware (zip code 19720), offers 117,300 square feet of versatile space ideal for refrigerated storage, warehousing, or flex use. Currently vacant, this single-tenant building boasts significant improvements underway. Built in 1983 with expansions in 1991, 1999, and 2009, the property features 12 existing dock doors (expandable to approximately 20), a 26-foot clear height, and a column spacing of approximately 50' x 50'. Ample parking is available, including 139 car parking spaces (4 handicapped accessible) and up to 48 additional trailer spots. The property includes a 3,500 lb. capacity hydraulic elevator and an on-site fuel station. Power is robust, with 1,200 AMP, 480V 3-phase power in the warehouse (additional 600 AMP and 800 AMP, 480V 3-phase power also available). The property is zoned I (Industrial) and its tax parcel number is 10-024.00-84. Benefit from its strategic location near Routes 13 and 273, Interstate I-95, the New Castle County Airport, Amazon's 3.8M SF facility, the Delaware Memorial Bridge (5 miles), and the Port of Wilmington (7 miles). This prime location offers access to a total population of 88,837,130 within an eight-hour drive.

Property profile
Verified
Property type Refrigerated & Cold Storage
Use group COLD STORAGE
Year built 1983
Construction STONE
Total area 40,900 SF
Lot 8.63 ac (375,923 SF)
Zoning code I
APN 10-024.00-084
UPID US17-0204025
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
  • NKS Distributors Big Box & Wholesale Store Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$4.90M
Comparable Approach Comparable
$3.93M
Blend (final) Blend
$4.51M
Owner & transaction history
Fr First Park New Castle LLC · 1 yrs held
Fr First Park New Castle LLC
since 2025
7 recorded transactions
2025
Price N/A
2022
Price N/A
2016
Price N/A
2012
Price N/A
2012
Price N/A
2007
$10
1969
Price N/A
Zoning & alternative use
I · New Castle, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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