Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    High-Visibility Retail Space Available Title is generated by Realmo AI

    500 Plaza Dr, Newark, DE 19702

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail spaces for rent in high-traffic Newark shopping center.

    Type:Retail
    Added:
    Sep 15, 2022
    Days on Market:
    1357
    Last Refresh:
    May 13 at 8:01 pm

    Property Features for 500 Plaza Dr

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 500 Plaza Dr Contact us

    Suite 10A $20/Mo

    Size
    Type
    Retail
    Contact us

    Suite 17 $20/Mo

    Size
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Tyler Foresta

    Listing agent Tyler Foresta License #DE RS-0025429

    Listing office LMT Commercial Realty, LLC.

    Listing date Sep 15, 2022

    Source Crexi

    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 LMT Commercial Realty, LLC.

    HighLights

    • High‑profile retail center location
    • Located on Route 896 between I‑95 and Route 40
    • High visibility with 30,353 +/- vehicles passing per day
    • Inline retail spaces available
    • Convenient location

    Overview

    Inline retail spaces are available for rent in a high-profile retail center. The property is conveniently located on Route 896 between I-95 and Route 40. The shopping center benefits from high visibility, with a traffic count of approximately 30,353 vehicles per day.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens #11050 Pharmacy COVID-19 Drive-Thru Testing ... Medical Laboratory Redbox Cinema Walgreens Pharmacy Pharmacy

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7452908
    Latitude
    39.6276342

    Nearby Similar for Lease

    • $3,800/Mo

      Prime Newark Location Office Space

      Office space in a prime Newark location with easy tri-state access.
      720 NEW LONDON Road, NEWARK, DE 19711
      View Details
    • $1,900/Mo

      Prime Newark Location Office Space

      Office space in a prime Newark location with easy tri-state access.
      720 NEW LONDON Road, NEWARK, DE 19711
      View Details
    • $1,900/Mo

      Prime Newark Location Office Space

      Office space in a prime Newark location with easy tri-state access.
      720 NEW LONDON Road, NEWARK, DE 19711
      View Details
    • $3,800/Mo

      Prime Newark Location Office Space

      Office space in a prime Newark location with easy access.
      720 NEW LONDON Road, NEWARK, DE 19711
      View Details
    • $129-$8,326/Mo
      11-1,292 SF

      Christiana Corporate

      200 Continental Dr, Unit 401, Newark, DE 19713
      View Details
    • $2,800/Mo
      2,150 SF

      Cape Cod Home Near University

      Four-bedroom home near Main Street, University of Delaware, available 2026.
      53 O'DANIEL Avenue, NEWARK, DE 19711
      View Details
    • $25 SF/Yr
      46,296 SF

      Renovated Office Space Near I-95

      Modern, move-in ready office space with flexible suite options.
      4051 Ogletown Stanton Rd, Newark, DE 19713
      View Details
    • $1,900/Mo

      Prime Newark Location Office Space

      Office space in a prime location with easy tri-state access.
      720 NEW LONDON Rd A1-2, Newark, DE 19711
      View Details
    • $18 SF/Yr
      14,728 SF

      Newark Office Space For Rent

      Office space for rent near University of Delaware and I-95.
      625 Barksdale Road, Newark, DE 19711
      View Details
    • $25 SF/Yr
      1,148 SF

      Suburban Office Space Available

      Office space for rent in a convenient suburban location.
      4051 Ogletown Rd, Newark, DE
      View Details
    • $9 SF/Yr
      13,125 SF

      Newark Warehouse Space Available

      13,125 SF warehouse space available for sublease in Newark.
      20 Shea Way, Newark, DE, 19713
      View Details
    • $19 SF/Yr
      1,120 SF

      University Office Plaza Space Available

      Office space for rent in a dynamic six-building office park.
      260 Chapman Rd, Newark, DE
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail spaces for rent in high-traffic Newark shopping center.
    Where is this retail space located?
    The property is located at 500 Plaza Dr Newark, DE.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: High‑profile retail center location; Located on Route 896 between I‑95 and Route 40; High visibility with 30,353 +/- vehicles passing per day
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tyler Foresta
    Real Estate License ID: DE RS-0025429
    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
    500 Plaza Dr, Newark, DE 19702
    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!