Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Townhome with First Floor Owner's Suite Title is generated by Realmo AI

    04a LEAHY DRIVE, Newark, DE 19711

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $749,900

    Townhome featuring a first-floor owner's suite and flexible living spaces.

    Type:Condo/Townhome
    Property size:
    2,718 SF
    Price / SF:
    $275/SF
    Added:
    Jan 31, 2024
    Days on Market:
    843
    Last Refresh:
    May 19 at 11:04 pm

    Property Features for 04a LEAHY DRIVE

    General Information

    Standard status
    Active
    Size
    2,718 SF
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    Bayard Williams

    Listing agent Bayard Williams License #RS-0017193

    Listing office House of Real Estate

    Listing date Jan 31, 2024

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of House of Real Estate

    HighLights

    • First floor Owner's Suite with large walk‑in closet and luxurious Owner's Bath.
    • 3 Bedrooms, 2.5 Baths, and Study/Flex Room.
    • Gourmet Kitchen with granite countertop, stainless steel appliances, and chimney hood.
    • Full basement and 2‑car garage.
    • Luxury vinyl plank flooring throughout most of the first floor.
    • Active adult community conveniently located near Main St. in Newark, Fair Hill Natural Area, I‑95, DE Rt. 7 and Routes 1 in DE and MD.

    Overview

    This exterior unit townhome, known as The Wyeth at Briarcreek North, features 3 bedrooms, a study/flex room, and 2.5 bathrooms. It includes a full basement and a 2-car front or side entry garage. The first floor offers a convenient owner's suite with a large walk-in closet and a luxurious owner's bath, along with a study/flex room. The second floor provides guest space with 2 bedrooms and a bathroom. The gourmet kitchen is equipped with granite countertops, stainless steel appliances, and a chimney hood. Luxury vinyl plank flooring extends throughout most of the first floor. Located in Briarcreek, an active adult community, the property is centrally located near Main St. in Newark, Fair Hill Natural Area, and is minutes from I-95, DE Rt. 7, and Routes 1 in DE and MD. The property size is 2718 square feet.
    Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7367
    Latitude
    39.7137

    Nearby Similar for Sale

    • $835,000
      4,141 SF

      Colonial Residence in Middle Run

      Luxury Colonial home with finished basement apartment on 0.75-acre lot.
      330 MOURNING DOVE Drive, NEWARK, DE 19711
      View Details
    • $695,000
      1,575 SF

      Twin/Duplex Near University of Delaware

      Twin/duplex on White Clay Creek, walking distance to Main Street.
      16 WHITE CLAY Drive, NEWARK, DE 19711
      View Details
    • $2,500,000
      14,360 SF

      Spacious Church Facility For Sale

      14,360 SF church with large sanctuary and commercial kitchen.
      2038 PLEASANT VALLEY ROAD, NEWARK, DE 19702
      View Details
    • $890,000
      6,000 SF

      Newark Office Building For Sale

      Commercial building with office space and long-term lease.
      Listing #38 - 1003 S Chapel Street, Newark, DE, Newark, DE 19702
      View Details
    • $2,500,000
      11,578 SF

      Main Street Newark Office Space

      11,578 SF office space in the heart of Newark.
      77 E Main St, Newark, DE, Newark, DE 19711
      View Details
    • $695,000
      2,955 SF

      Office Building on College Avenue

      Office building for sale on busy S. College Avenue.
      907 S College Ave, Newark, DE
      View Details
    • $7,616,110
      13,225 SF

      Newark Retail Property For Sale

      Retail property with long-term net lease in affluent area.
      604 Corner Ketch Rd, Newark, DE
      View Details
    • Contact for pricing
      4,600 SF

      Restaurant Opportunity in Growth Market

      Restaurant space for sale in a high-income, growing area.
      481 Stanton Christiana Rd, Newark, DE 19713
      View Details
    • $13
      28,050 SF

      Premier Newark Business Park

      350-acre business park with office spaces in Newark, Delaware.
      100 Lake Drive, Newark, DE 19702
      View Details
    • Contact for pricing
      109,000 SF

      Newark Medical Office Complex

      Medical office complex in Newark, DE, near I-95.
      2600 Glasgow Ave, Newark, DE 19702
      View Details
    • Contact for pricing
      6,512 SF

      Newark Retail Space on Main

      New construction retail space in the heart of Newark, DE.
      134-140 East Main Street, Newark, DE 19711
      View Details
    • Contact for pricing
      29,750 SF

      Newark Office/Industrial Building For Sale

      29,750 SF office/industrial building in Pencader Corporate Center.
      211 Lake Dr, Newark, DE 19702
      View Details

    FAQs

    What type of property is this?
    Residential income property - Townhome featuring a first-floor owner's suite and flexible living spaces.
    Where is this residential income property located?
    The property is located at 04a LEAHY DRIVE Newark, DE.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: First floor Owner's Suite with **large walk‑in closet and luxurious Owner's Bath.**; 3 Bedrooms, 2.5 Baths, and Study/Flex Room.; **Gourmet Kitchen with granite countertop, stainless steel appliances, and chimney hood.**
    (302) 743-0860
    We can help!
    Listing Contact
    Bayard Williams
    Real Estate License ID: RS-0017193
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    04a LEAHY DRIVE, NEWARK, DE 19711
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!