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Center Square 124-128 E Main St
10,900 SF of Retail Space Available in Newark, DE 19711
Highlights
- Situated at the bustling intersection of Center St. and Main Street, Newark, this retail space offers exceptional accessibility and visibility
- Enjoy the convenience of a triple net lease arrangement, allowing for predictable expenses and potentially reducing financial risks for tenants
- Optimal visibility: this retail space ensures maximum exposure to both pedestrian and vehicular traffic, enhancing brand visibility and recognition
- With 15,000 SF of available space, there's ample room for showcasing products, setting up displays, and accommodating customers comfortably
- Opportunity to establish your business in a prime commercial area of downtown Newark, surrounded by a mix of shops, restaurants, and other businesses
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 0.25 AC | Negotiable | Upon Request Upon Request Upon Request Upon Request Upon Request Upon Request | Triple Net (NNN) |
1st Floor
10,900 SF retail space where Walgreens used to occupy available for lease. Space is very walkable in downtown Newark.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as Standard Retail Space
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SITE PLAN
PROPERTY FACTS FOR 124-128 E Main St , Newark, DE 19711
| Property Type | Retail | Gross Leasable Area | 15,000 SF |
| Property Subtype | Storefront Retail/Office | Year Built | 2000 |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Office |
| Gross Leasable Area | 15,000 SF |
| Year Built | 2000 |
About the Property
An exceptional opportunity in the heart of downtown Newark! This prime retail space, strategically positioned at the intersection of Center St. and Main Street, offers unparalleled visibility and accessibility. Boasting 10,900 square feet of available space, this property provides ample room for showcasing products, setting up displays, and accommodating customers comfortably. The location couldn't be more optimal, situated at the corner of two major thoroughfares, ensuring maximum exposure to both pedestrian and vehicular traffic. This high-traffic area enhances brand visibility and recognition, making it an ideal spot for retailers or restaurants looking to capture the attention of a diverse customer base. Formerly occupied by Walgreens, this space comes with existing infrastructure that may be conducive to various retail setups, offering convenience and potential cost savings for tenants. Furthermore, tenants will appreciate the predictability of a triple net lease arrangement, which helps manage expenses and reduce financial risks. Don't miss out on this rare chance to establish your business in downtown Newark's commercial hub, surrounded by a vibrant mix of shops, restaurants, and other businesses. Seize the opportunity to elevate your brand presence in this dynamic and thriving community.
- Corner Lot
- Air Conditioning
Nearby Major Retailers
-
Alissa Cirillo -
Lang Development Group
Presented by
Center Square | 124-128 E Main St
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