Technical
Financial
Distress signals
Property profile

399 Churchmans Rd New Castle, DE 19720

FOR LEASE
Refrigerated & Cold Storage
Property ID
US17-0204025
40,900 SF 8.63 ac lot Built 1983
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

Industrial property built in 1983 and expanded in 1991, 1999, and 2009, offering 114,555 square feet of warehouse space on an 8.63-acre site. The property is zoned for industrial use (I) and features approximately 26-foot clear height with column spacing of approximately 50 feet by 50 feet. Electrical service includes 1,200 AMP and 480V 3-phase for the warehouse, 600 AMP and 480V 3-phase for the warehouse, and 800 AMP and 480V 3-phase for the office area. The building includes a 3,500 lb. capacity hydraulic elevator and has an on-site fuel station. Water is supplied by an artesian well, with sewer service provided by New Castle County, and utilities include electricity and natural gas through Delmarva Power. Parking includes up to 274 employee spaces and up to 65 trailer spaces depending on lot configuration. The property has 12 dock doors with the ability to expand to approximately 20.

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

Current use

Occupant on record · Public records
  • Big Box & Wholesale Store Distribution Center

Location

399 Churchmans Rd New Castle, DE 19720
New Castle metro Census 15000 PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
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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

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
Zoning description

may be utilized in a manner consistent with their prior Industrial (I) or Service Commercial (SC) zoning classification. No new structures shall be erected, and no existing structures expanded, except for uses permitted…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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