Fully Occupied Retail
681 E Chestnut Hill Rd, Newark, DE
For Sale
Contact for pricing
Multi-tenant retail center with stable cash flow and NNN leases.
Property Size14,000 SF
Lot Size5.88 Acres
Price / SF$396.27
Days on Market702
Property Features for 681 E Chestnut Hill Rd
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
Real Capital Investments
(214) 380-3675
Listed By:
Dylan O’Hara
(918) 208-1565
Source:
Moodyscre
Added: Dec 11, 2024
Changed: Nov 7
Last Checked: Nov 10 at 6:37AM
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 Real Capital Investments
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Investment Insights
Based on property information with market context.
This fully occupied multi-tenant retail center offers a stable cash flow asset with zero landlord responsibilities due to NNN leases. The property features multiple options to renew, with rental increases throughout the initial terms and option periods, providing a strong hedge against inflation. Anchored by 7-Eleven, a globally diversified tenant and leader in the convenience store and gas station industry with over 78,000 locations in 19 countries, it is the world’s largest convenience retailer. The large format strip center spans 14,000 square feet on a 5.14-acre parcel, containing 80 parking spaces, providing each tenant with the ability to effectively handle high customer volume. The location experiences high traffic, with more than 30,000 vehicles per day on E. Chestnut Hill Rd, over 19,000 vehicles per day on Salem Church Rd, and an additional 129,788 vehicles per day on the nearby Delaware Turnpike (I-95).
Key Highlights
- Anchored by 7‑Eleven, a globally recognized brand.
- Stable cash flow asset with zero landlord responsibilities due to NNN leases.
- Large 14,000 sq ft retail center on a 5.14‑acre parcel with ample parking (80 spaces).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$179,739
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,594,780
$3.6M
Cap Rate 7%
$2,567,700
$2.6M
Cap Rate 9%
$1,997,100
$2.0M
Market Conditions
NOI Build-Up for 14,000 SF
Gross rent
$252.0K $18.00/SF
− Vacancy
−$12.3K −$0.88/SF
EGI
$239.7K $17.12/SF
− OpEx
−$59.9K −$4.28/SF
NOI
$179.7K $12.84/SF
Area
New Castle County, DE
Vacancy
4.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,594,780
Cap Rate 7%
$2,567,700
Cap Rate 9%
$1,997,100
Alternative Uses
Best Use
Specialty Retail
$2.57M
$2.25M – $3.00M
NOI $179,739 @ 7.0% cap · market cap 3.24%
Second Best
Retail
$1.94M
$1.69M – $2.26M
NOI $135,534 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,407 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant retail center with stable cash flow and NNN leases.
Where is this strip mall located?
The property is located at 681 E Chestnut Hill Rd Newark, DE.
What is the asking price?
The asking price for this property is $5,547,847.
What are key features of this property?
This property features: Anchored by **7‑Eleven**, a globally recognized brand.; Stable cash flow asset with **zero landlord responsibilities** due to NNN leases.; Large 14,000 sq ft retail center on a 5.14‑acre parcel with ample parking (80 spaces).
