Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    950 W Basin Rd New Castle, DE 19720

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $12 SF/Yr

    Available office space for lease in New Castle, Delaware.

    Property size:
    40,228 SF
    Lot size:
    10.96 Acres

    Property Features for 950 W Basin Rd

    General Information

    Size
    40,228 SF
    Lot size
    10.96 Acres

    We can help!

    Listing Contact
    Aidan Cleghorn
    Aidan Cleghorn
    Source: Moodyscre

    Listing Agent: Aidan Cleghorn

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

    Learn more

    Property Insight Report

    Overview

    Office Space in New Castle

    Available for lease is an office space located at 950 W Basin Rd in New Castle, Delaware. The property offers 40228 square feet of office space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Promo Marketing Internet Marketing Service The News Journal Media ... Advertising Agency ATM Atm Delawareonline News Service Spark Newsstand

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5990793
    Latitude
    39.6956593

    Nearby Similar for Lease

    • $17,978 /Mo
      109,771 SF

      Versatile Commercial Space For Lease

      24,000 sq ft multi-level retail/warehouse/entertainment space available for lease.
      791 S Dupont Hwy, New Castle, DE 19720
      View Details
    • $18 SF/Yr
      43,000 SF

      Single-Story Flex Office Building

      43,000 SF flex office with expansion potential on 11.49 acres.
      118 Lukens Dr, New Castle, DE 19720
      View Details
    • Contact for pricing
      81,225 SF

      New Castle Industrial Facility

      81,225 SF industrial facility with warehouse and office space.
      901 A/B Lambson Ln, New Castle, DE 19720
      View Details
    • $7 SF/Yr
      21,000 SF

      Adaptable Warehouse with Lab Space

      Sublease opportunity: flexible space near I-95 in New Castle.
      New Castle, DE 19720
      View Details
    • $14 SF/Yr
      20,000 SF

      Flex, Office, and Retail Spaces

      Flex warehouse, office, and retail spaces available for lease.
      22 Parkway Cir, New Castle, DE 19720
      View Details
    • Contact for pricing
      60,969 SF

      Crossroads Plaza Retail Spaces

      Delaware Retail Center - Multiple Spaces Available
      2064 New Castle Ave, New Castle, DE 19720
      View Details
    • Contact for pricing
      9,430 SF

      Dupont Hwy Commercial Building

      High-Visibility Office/Retail Space
      1424 Dupont Hwy, Wilmington Manor, DE 19720
      View Details
    • Contact for pricing
      107,326 SF

      Churchmans Road Industrial Space

      117,300 SF Refrigerated Warehouse, Delaware
      399 Churchmans Rd, New Castle, DE 19720
      View Details
    • $10 SF/Yr
      7,700 SF

      New Castle Warehouse Distribution Space

      7,500 SF warehouse space with fenced parking in New Castle.
      3020 Bowlarama Dr, New Castle, DE 19720
      View Details
    • $11 SF/Yr
      7,500 SF

      Prime Industrial Flex Space in DE

      Versatile warehouse/flex space for lease.
      308 Basin Rd, Wilmington Manor, DE 19720
      View Details
    • Contact for pricing
      4,490 SF

      Airport Warehouse Suite Available

      Modern warehouse space for lease.
      34 Blevins Dr, New Castle, DE 19720
      View Details
    • $19 SF/Yr
      1,000 SF

      Office Spaces For Sublease

      Two 1,000 SF office spaces available for sublease.
      89 Christiana Rd, New Castle, DE 19720
      View Details

    FAQs

    What type of property is this?
    Office space - Available office space for lease in New Castle, Delaware.
    Where is this office space located?
    The property is located at 950 W Basin Rd New Castle, DE.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Available office space; - Lease opportunity; - Located in New Castle
    (315) 565-8302
    Request Owner's contact information
    950 W Basin Rd New Castle, DE 19720
    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.
    950 W Basin Rd
    New Castle, DE 19720
    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
    950 W Basin Rd New Castle, DE 19720
    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

    We can help!
    Listing Contact
    Aidan Cleghorn
    Aidan Cleghorn
    (315) 565-8302
    Learn more
    Google sign-in failed. Please try again or use another login method.