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Financial
Distress signals
Property profile

604 Corner Ketch Rd Newark, DE 19711

FOR SALE
Retail space
Property ID
US17-0178384
13,601 SF 3.33 ac lot Built 2018
Last sale Oct 2017 · $2,100,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 2-yr Hold Held for 2 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional investment opportunity presents a fee-simple, 13,225-square-foot retail property occupied by a credit-rated CVS Pharmacy in Newark, Delaware. Located at 604 Corner Ketch Rd, 19711, this single-tenant, absolute triple-net (NNN) lease boasts a substantial remaining lease term of 20.2 years, extending to January 31, 2045, with further renewal options. The property offers a compelling 6.21% cap rate and a net operating income (NOI) of $489,756, resulting in an asking price of…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$24k
Tax billed · 2023
Assessed value$575k
Assessed land$30k
Assessed improvement$545k
Effective rate4.18%

Value estimate

· Oct 2026
$645k
$581k – $710k
CAP approach$2.03M
Submarket $/SF estimate$1.04M
NOI build-up
Gross scheduled income$238k
Vacancy & credit loss−$12k
Operating expenses−$57k
NOI · 2.29% cap applied$170k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$229/SF
County average, outlier-cleaned · 40 recorded sales of this use type
Observed band · Q1–Q3$117 – $332

Cap rate analysis

How does the asset earn?
2.29%
$170k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
CR
JurisdictionNEW CASTLE

Location intelligence

Which uses thrive at this corner?
Best fit: Restaurant
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Restaurant16.9
Spa & Massage14.5
Building Supply13.9

Location

604 Corner Ketch Rd Newark, DE 19711
County assessor Recorded deeds · 7 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

4 recorded sales · 16 properties nearby
Recent sales nearby
4 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
16 Haines, Newark, DE 19711-4611 $542,985 Nov 2020 1,107 SF
399 New London, Newark, DE 19711-7044 $3,625,000 Oct 2020 11,421 SF
2603 Capitol, Newark, DE 19711-7253 $1,350,000 Jul 2020 1,731 SF
1110 Elkton, Newark, DE 19711-3509 $73,390 Jan 2019 4,460 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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