Skip to main content

Net Lease

BUILDERS FIRSTSOURCE (NYSE: BLDR)

948 Middletown Warwick Rd, Middletown, DE 19709

Listing Price: $9,072,633

Cap Rate
6.75%
Gross SF
50,232
Price/Gross SF
$180.61
Lot Size
11.55 acres
Year Built
2007
Rentable SF
50,232

Investment Overview

Marcus & Millichap is pleased to present the single-tenant net leased Builders FirstSource located at 948 Middletown Warwick Rd, Middletown, DE. The 52,232 SF industrial-retail property sits on 11.55 acres of land with excellent visibility from the four-lane highway of Warwick Rd. Originally built for Shone Lumber, (est. 1957), Shone sold the business to BMC Holdings in 2018, who then merged with Builders FirstSource in 2021 (p. ). Builders FirstSource is the largest supplier of building materials, manufactured components, and construction services in North America with over 570 locations in 43 states, Builders FirstSource serves the professional contractors, sub-contractors, remodelers, and consumers of the single-family and multi-family housing market. The total estimated size of the U.S. residential construction market is around USD 590 billion and is expected to grow at a CAGR of over 3% through 2029. The stock price of Builders FirstSource (NYSE: BLDR) is up 1900% from the COVID low and was recently added to the S&P 500, in December of 2023.

The subject property has been utilized for the sales, distribution and warehousing of said construction materials since being built in 2008. In addition, the 11.55 acres allow the property to serve as a regional distribution hub for Builders FirstSource. The lease is under the first option period with four (4+) years remaining & two percent (2%) annual increases. Two (2) additional five (5) year options remain with the same annual rent increases. The lease is double-net (NN) with minimal landlord responsibilities (abstract on p. )

Middletown, Delaware is a vibrant city with strong employment base & household income. The city is rapidly growing with millions of square feet under construction for additional pharmaceutical manufacturing and warehouse space, adding to the potent existing corridor. The city is 20 miles from Wilmington & Dover, and 40 miles to Baltimore and Philadelphia.

Investment Highlights

  • Builders FirstSource (NYSE: BLDR) is the Largest U.S. Supplier of Building Products, Prefabricated Components and Value Added Services to the Pro Builder.
  • Builders FirstSource Added to the S&P 500 on December 18, 2023 | Stock Price Up 1900 Percent from CovidLow! Strong Historical Financial Performance, Margin Growth and Balance Sheet
  • Approximately 570 Distribution and Manufacturing Locations Across 43 States | 89 of the Top 100 MSA's
  • Long-Term Housing Tailwinds Remain Supportive (Underbuilt by 1.7-3.0 Million Homes)
  • Large Parcel: 11.55 AC | Excellent Access and Visibility via Four-Lane Warwick Rd. and Hwy 301 Interchange
  • Strong Corridor (One-Mile.) | Amazon (1.2 M SF) | Clarios (450K SF) | Datwyler Pharmaceuticals (156K SF) | Breakthru Beverage (282K SF) | Tractor Supply, Lowes, HD
  • Under Development (One-Mile.) | STA Pharmaceutical (2.2 Million Square Feet) *2025 | Warehouse and Commercial Development (567 Thousand Square Feet + 25 AC CRE)

Exclusively Listed By

Broker of Record

  • Timothy B. Stephenson Jr.

    Regional Manager

    (215) 531-7000

    License(s) DE: RB-0031281

    Delaware

Financing By

Net Lease

BUILDERS FIRSTSOURCE (NYSE: BLDR)

Listing Price: $9,072,633

Cap Rate
6.75%
Gross SF
50,232
Price/Gross SF
$180.61
Lot Size
11.55 acres
Year Built
2007
Rentable SF
50,232

Investment Highlights

  • Builders FirstSource (NYSE: BLDR) is the Largest U.S. Supplier of Building Products, Prefabricated Components and Value Added Services to the Pro Builder.
  • Builders FirstSource Added to the S&P 500 on December 18, 2023 | Stock Price Up 1900 Percent from CovidLow! Strong Historical Financial Performance, Margin Growth and Balance Sheet
  • Approximately 570 Distribution and Manufacturing Locations Across 43 States | 89 of the Top 100 MSA's
  • Long-Term Housing Tailwinds Remain Supportive (Underbuilt by 1.7-3.0 Million Homes)
  • Large Parcel: 11.55 AC | Excellent Access and Visibility via Four-Lane Warwick Rd. and Hwy 301 Interchange
  • Strong Corridor (One-Mile.) | Amazon (1.2 M SF) | Clarios (450K SF) | Datwyler Pharmaceuticals (156K SF) | Breakthru Beverage (282K SF) | Tractor Supply, Lowes, HD
  • Under Development (One-Mile.) | STA Pharmaceutical (2.2 Million Square Feet) *2025 | Warehouse and Commercial Development (567 Thousand Square Feet + 25 AC CRE)

Investment Overview

Marcus & Millichap is pleased to present the single-tenant net leased Builders FirstSource located at 948 Middletown Warwick Rd, Middletown, DE. The 52,232 SF industrial-retail property sits on 11.55 acres of land with excellent visibility from the four-lane highway of Warwick Rd. Originally built for Shone Lumber, (est. 1957), Shone sold the business to BMC Holdings in 2018, who then merged with Builders FirstSource in 2021 (p. ). Builders FirstSource is the largest supplier of building materials, manufactured components, and construction services in North America with over 570 locations in 43 states, Builders FirstSource serves the professional contractors, sub-contractors, remodelers, and consumers of the single-family and multi-family housing market. The total estimated size of the U.S. residential construction market is around USD 590 billion and is expected to grow at a CAGR of over 3% through 2029. The stock price of Builders FirstSource (NYSE: BLDR) is up 1900% from the COVID low and was recently added to the S&P 500, in December of 2023. The subject property has been utilized for the sales, distribution and warehousing of said construction materials since being built in 2008. In addition, the 11.55 acres allow the property to serve as a regional distribution hub for Builders FirstSource. The lease is under the first option period with four (4+) years remaining & two percent (2%) annual increases. Two (2) additional five (5) year options remain with the same annual rent increases. The lease is double-net (NN) with minimal landlord responsibilities (abstract on p. ) Middletown, Delaware is a vibrant city with strong employment base & household income. The city is rapidly growing with millions of square feet under construction for additional pharmaceutical manufacturing and warehouse space, adding to the potent existing corridor. The city is 20 miles from Wilmington & Dover, and 40 miles to Baltimore and Philadelphia.

Exclusively Listed By

Broker of Record

  • Timothy B. Stephenson Jr.

    Regional Manager

    (215) 531-7000

    License(s): DE: RB-0031281

    Delaware

Financing By

MM Texture Background
MM Textured Background Lower