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    Property profile & analytics
    OFF-MARKET Estimated value $3,315,000
    Retail space

    45 Main St, Newark, DE 19711-4686

    21,476 SF 0.72 ac lot Built 1996
    Entity Owned 4-yr Hold Absentee Owner Free & Clear
    Property ID
    US17-0121121
    Property summary
    AI-generated overview

    This exceptional 1,500 square foot retail space is located on Newark's vibrant Main Street, offering unparalleled visibility and accessibility. Situated on the second floor of a two-story building constructed in 1996, this unit benefits from abundant natural light thanks to large windows overlooking Main Street and additional storefront windows and doors opening into the building's common area. The space is part of a larger 41,452 square foot multi-tenant building, sharing the building with established businesses such as CVS, Grotto Pizza, and Brew Haha. The building is conveniently served by an elevator, ensuring easy access for customers and employees. Ample parking is readily available in a large municipal lot located directly behind the building, providing over 200 parking spaces for patrons. The building's common area is strategically positioned, accessible from both Main Street and Delaware Avenue, creating a high pedestrian traffic flow. This prime location is in the heart of the University of Delaware campus, guaranteeing a consistent flow of potential customers. The property is zoned 18BB within New Castle County, Delaware. This space presents a unique opportunity for a business seeking high visibility and a strong location within a thriving commercial district. The building's existing tenant mix provides a synergistic environment, attracting a diverse customer base. This is a rare opportunity to establish a presence in a highly desirable location.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 1996
    Construction CONCRETE
    Total area 21,476 SF
    Lot 0.72 ac (31,363 SF)
    Zoning code 18BB
    APN 18-020.00-064
    UPID US17-0121121
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    $3.20M
    Comparable Approach Comparable
    $2.93M
    Blend (final) Blend
    $3.32M
    Owner & transaction history
    Delaware Cvs Pharmacy LLC · 4 yrs held
    Delaware Cvs Pharmacy LLC
    since 2021
    3 recorded transactions
    2021
    2012
    2007
    $10
    Zoning & alternative use
    18BB · Newark, DE
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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