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Property profile & analytics
FOR LEASE
Outlet malls

601 S Ridge Ave Middletown, DE 19709

80,680 SF 7.74 ac lot Built 2007
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US17-0223280
Property summary
AI-generated overview

This exceptional 1-acre retail pad site, located at 601 S Ridge Ave in Middletown, Delaware, presents a unique investment opportunity. Situated at the intersection of Middletown Warwick Road and Bunker Hill Road in New Castle County, this property offers unparalleled visibility and accessibility. The site is zoned for commercial use and is ideal for a single-tenant retail development, particularly suited for a drive-thru operation given its "pad" site designation. The land encompasses 43,560 square feet, providing ample space for building construction and associated parking. The property's location within the thriving Middletown community ensures high traffic volume and a strong customer base. This ground lease opportunity allows for significant development potential, capitalizing on the strategic location and high demand for retail space in this rapidly growing area. The property's address is 601 S Ridge Ave, Middletown, DE 19709. Its convenient location and significant size make it an attractive proposition for businesses seeking a prominent presence in a bustling Delaware market. This is a single-tenant property, offering a streamlined approach to development and management. The property's coordinates are 39.4479706 latitude and -75.7340599 longitude. This is a ground lease only opportunity.

Property profile
Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 2007
Construction CONCRETE
Total area 80,680 SF
Lot 7.74 ac (337,154 SF)
Zoning code 23C-3
APN 23-022.00-189
UPID US17-0223280
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
  • Kohl's Department Store
  • SEPHORA at Kohl's Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.63M
Blend (final) Blend
$7.41M
Owner & transaction history
Middletown Custard Operations LLC · 1 yrs held
Middletown Custard Operations LLC
since 2025
2 recorded transactions
2025
Price N/A
2007
$10
Zoning & alternative use
23C-3 · Middletown, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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