Main Street Newark Office
77 E Main St Newark DE, Newark, DE 19711
11,578 SF office space in the heart of Newark.
Type:Office Building / Redevelopment Opportunity
Property size:
11,578 SFPrice / SF:
$215/SF- Added:
- Nov 21, 2025
- Days on Market:
- 182
- Last Refresh:
- Apr 5 at 11:51 pm
Property Features for 77 E Main St Newark DE
General Information
- Standard status
- Active
- Size
- 11,578 SF
- Property subtype
- Office Building / Redevelopment Opportunity
Building Details
- Year Built
- 1983
Listing agent Alec Georigi License #RS0026269 (302) 559-7191
Listing office SB Real Estate (302) 559-7191
Listing date Nov 21, 2025
Source Sbrealtyco
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 SB Real Estate
HighLights
- Large 11,578 SF office space.
- Prime location on Newark's Main Street in the heart of the University of Delaware campus.
- Multiple offices and a loft with 2 large rooms.
- Windows overlooking Main Street.
- Includes a kitchen and 2 full baths.
- Located next door to the University of Delaware Bookstore and Creamery.
Overview
An 11,578 square-foot office space is available on Newark’s Main Street, situated in the heart of the University of Delaware campus. This three-story space features windows that overlook Main Street. The layout includes multiple offices, a loft with two large rooms, a kitchen, and two full bathrooms, one located in the front on the second floor and one in the rear on the third floor. The property fronts E. Main St. It shares building space with LocalLuv Salon and is located next door to the University of Delaware Bookstore and Creamery.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.75M
NOI $157,699 @ 9.00% cap · cautious / downside scenario
Moderate
$2.25M
NOI $157,699 @ 7.00% cap · market / base-case scenario
Aggressive
$3.15M
NOI $157,699 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $261.2k | $22.56 |
| − Vacancy | −$50.9k | −$4.40 |
| EGI | $210.3k | $18.16 |
| − OpEx | −$52.6k | −$4.54 |
| NOI | $157.7k | $13.62 |
11,578 SF · lease $22.56/SF/yr · vacancy 19.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$2.25M
$1.97M – $2.63M
NOI $157,699 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,855 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office buildings
Map
- City
- Newark
- County
- New Castle
- State
- Delaware
- Longitude
- -75.7502
- Latitude
- 39.6829
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - 11,578 SF office space in the heart of Newark.
Where is this office building located?
The property is located at 77 E Main St Newark DE Newark, DE.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Large 11,578 SF office space.; Prime location on Newark's Main Street in the heart of the University of Delaware campus.; Multiple offices and a loft with 2 large rooms.
