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2150 New Castle Ave 27,000 SF Retail Building New Castle, DE 19720 $6,278,400 CAD ($232.53 CAD/SF) 9.65% Cap Rate
INVESTMENT HIGHLIGHTS
- 127,541 ADT on I-295. One of the busiest roads in the state. Last exit before DE Memorial Bridge and NJ.
- Prime development location with outstanding transportation access.
- Potential 9.65 CAP on a Sale/Leaseback. Turn-key operation.
EXECUTIVE SUMMARY
Introducing an incredible investment opportunity at NEW CASTLE FITNESS CENTER, located at 2150 NEW CASTLE AVE, NEW CASTLE, DE 19720. This property offers a 1.58-acre lot with a 25,770 sqft facility featuring pools, a hot tub, sauna, steam room, fitness areas, and more. With a proposed NOI of $435,100, this turn-key business presents a lucrative option for investors or developers. Situated strategically near major national chains like Starbucks and Courtyard by Marriott, the property boasts exceptional transportation access and high visibility on one of Delaware's busiest roads. Recent renovations have enhanced the premises, allowing for the potential separation of the fitness and swim businesses. Additionally, the property benefits from proximity to key transport hubs like I-95, ILG Airport, NJ Turnpike, and rail connections, making it a prime location for business growth. Don't miss the chance to own this income-producing asset with substantial upside potential in a highly desirable location.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Health Club
Building Size
27,000 SF
Building Class
B
Year Built/Renovated
1961/2023
Price
$6,278,400 CAD
Price Per SF
$232.53 CAD
Cap Rate
9.65%
NOI
$605,866 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.39
Lot Size
1.58 AC
Zoning
CR - Commercial Region
Parking
60 Spaces (2.22 Spaces per 1,000 SF Leased)
Frontage
191’ on New Castle Avenue
AMENITIES
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 10-015.00-002 | Improvements Assessment | $564,890 CAD |
| Land Assessment | $222,797 CAD | Total Assessment | $787,687 CAD |
PROPERTY TAXES
Parcel Number
10-015.00-002
Land Assessment
$222,797 CAD
Improvements Assessment
$564,890 CAD
Total Assessment
$787,687 CAD
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Commercial Moving Experience Real Estate
2150 New Castle Ave
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