Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    275 Allen Ct Dover, DE

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail and office spaces for lease in Dover, DE.

    Type:RETAIL
    Property size:
    7,800 SF
    Lot size:
    15.70 Acres
    Added:
    Nov 3, 2023
    Days on Market:
    909
    Last Refresh:
    Apr 5 at 11:23 pm

    Property Features for 275 Allen Ct

    General Information

    Standard status
    Active
    Size
    7,800 SF
    Lot size
    15.70 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 275 Allen Ct Contact us

    We can help!

    Listing Contact
    Timothy "TJ" Spencer

    Listing agent Timothy "TJ" Spencer

    Listing office Pettinaro Management, LLC

    Listing date Nov 3, 2023

    Source Moodyscre

    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 Pettinaro Management, LLC

    Overview

    Retail and Office Development

    This is a 171,300 square foot retail and office development located in Dover, DE. The development includes a 17,815 square foot office building that will be occupied by Nemours duPont Pediatrics and VCA Animal Hospital. The property is situated on the southeast corner of W. North Street and Saulsbury Road, adjacent to Eden Hill Medical Center, placing it in the central area of Dover. The West Dover Connector, which terminates at Eden Hill, was under construction from April 2015 and completed in August 2017.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Pulxox — 301 Loockerman Plaza, Dover, DE 19904
    • Pulgero — 560-798 S Queen St, Dover, DE 19904
    • Courtney Square — 263 W Water St, Dover, DE 19904
    • ERNILD ONLINE MALL — The Green #7151, Dover, DE 19901
    • Coin Cloud Bitcoin ATM — 295 S Dupont Hwy, Dover, DE 19901

    Map

    City
    Dover
    County
    Kent
    State
    Delaware
    Longitude
    -75.5244
    Latitude
    39.1582

    Nearby Similar for Lease

    • $4,000/Mo

      Restaurant Space in Pizzadili Plaza

      Turn-key restaurant opportunity in a well-known Dover location.
      2089 S DUPONT Highway, DOVER, DE 19901
      View Details
    • $1,850/Mo

      Dover Office Space For Lease

      1,006 SF ground floor office space available for lease.
      1675 S STATE Street, DOVER, DE 19901
      View Details
    • $5,046/Mo

      Professional Office Space Available

      Professional office space for lease in Dover, Delaware.
      230 BEISER Boulevard, DOVER, DE 19904
      View Details
    • $3,500/Mo

      Dover Former Bank Branch Space

      High-visibility commercial space suitable for various business types.
      1001 WALKER ROAD, DOVER, DE 19904
      View Details
    • $2,300/Mo

      Dover Office Space For Lease

      Prime office space near downtown Dover with recent renovations.
      20 E DIVISION Street, DOVER, DE 19901
      View Details
    • $750/Mo

      Office Space with Highway Exposure

      Office space for lease with major highway exposure and ample parking.
      1325 S STATE Street, DOVER, DE 19901
      View Details
    • $1,395/Mo

      Dover Retail Space For Lease

      Move-in ready retail space in Dover neighborhood center.
      1043 WALKER RD, DOVER, DE 19904
      View Details
    • $2,800/Mo

      Office Space For Rent

      Office space available for lease in Dover, DE.
      642 S QUEEN Street, DOVER, DE 19904
      View Details
    • $1,300/Mo

      Dover Office Space For Lease

      Commercial space with private offices and convenient parking in Dover.
      383 W NORTH Street, DOVER, DE 19904
      View Details
    • $1,850/Mo

      Ground Floor Office Space Available

      1,006 SF office space for lease in Dover, DE.
      1675 S STATE St A, Dover, DE 19901
      View Details
    • $4,000/Mo

      Restaurant Opportunity in Pizzadili Plaza

      Turn-key restaurant with fully stocked kitchen in high-traffic location.
      2089 S DUPONT Hwy DELI, Dover, DE 19901
      View Details
    • $2,200/Mo

      Commercial Building in Dover, DE

      Two-story commercial building available for lease in Dover, DE.
      1147 S GOVERNORS Avenue, DOVER, DE 19901
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail and office spaces for lease in Dover, DE.
    Where is this shopping center located?
    The property is located at 275 Allen Ct Dover, DE.
    What are key features of this property?
    This property features: 171,300 SF retail and office development.; Located in the heart of Dover next to Eden Hill Medical Center.; 17,815 SF office building.
    (484) 888-3251 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Timothy "TJ" Spencer
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!