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    Prime Newark Location Office Space Title is generated by Realmo AI

    720 NEW LONDON Road, Newark, DE 19711

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    For Lease
    $3,800 /Mo

    CommercialLease - NEWARK, DE

    Type:Office
    Added:
    Jan 6, 2026
    Days on Market:
    147
    Last Refresh:
    Jun 2 at 4:06 pm

    Property Features for 720 NEW LONDON Road

    General Information

    Property type
    Other
    Property subtype
    Office
    Parking
    15
    Parking features
    Parking Lot
    Standard status
    Active

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Laura Natalie Correa

    Listing agent Laura Natalie Correa License #RS0037544

    Listing office Empower Real Estate, LLC 111 W Continental Drive unit: Suite 305, Newark, DE

    Listing date Jan 6, 2026

    MLS# DENC2095226

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Newark location with easy access to Pennsylvania and Maryland state lines.
    • High‑traffic location on New London Road, ideal for visibility and customer access.
    • Utilities paid by landlord for predictable monthly expenses.
    • Large on‑site parking lot for staff and customers.
    • Opportunity for business signage along a busy corridor.
    • Flexible layouts with multiple entrances, suitable for single or multi‑tenant use.

    Overview

    This office space is located in a prime Newark location with easy tri-state access, situated along one of Newark's most established and highly traveled corridors. It is an excellent option for medical offices, professional services, and small businesses. Located on the east side of Route 896, just south of Country Club Drive, the property offers quick access to the Pennsylvania and Maryland state lines and is directly across from Fairfield Shopping Center, which features Acme Markets, Rite Aid, and popular dining options. The University of Delaware is also nearby. The space is available for lease and ready for immediate occupancy. All utilities are paid by the landlord. A large on-site parking lot provides easy access for staff and customers, and there is opportunity for business signage, offering added visibility along this busy corridor. The building also features multiple entrances, allowing for flexible layouts and convenient access for divided or multi-tenant use. The current lease price reflects the full ground-level space or full second level; however, the landlord is open to negotiating lease divisions based on tenant needs. Space divisions will be handled on a first-come, first-served basis.
    Property Profile Location Intelligence

    Current Use by Public Records

    Insurance Associates Inc. Insurance Agency

    Suggested Use

    Law Firm Building Supply Gym & Fitness Center Big Box & Wholesale Store Kitchen & Bath Showroom Department Store Discount Store Barber Shop Electrical Service Furniture & Home Goods

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.77711
    Latitude
    39.70948

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    FAQs

    What type of property is this?
    Office units - Office space in a prime Newark location with easy tri-state access.
    Where is this office units located?
    The property is located at 720 NEW LONDON Road Newark, DE.
    What is the lease rate?
    The lease rate is $3,800 /Mo.
    What are key features of this property?
    This property features: Prime Newark location with easy access to Pennsylvania and Maryland state lines.; High‑traffic location on New London Road, ideal for visibility and customer access.; Utilities paid by landlord for predictable monthly expenses.
    (302) 607-3603
    We can help!
    Listing Contact
    Laura Natalie Correa
    Real Estate License ID: RS0037544
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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