Medical Office Shell with Two-Story
For Sale
Contact for pricing
774 Christiana Rd, Newark, DE 19713
Shell medical office with a two-story atrium and elevator service, supported by 400+ parking spaces.
Property Size5,000 SF
Price / SF$150
Days on Market571
Property Features for 774 Christiana Rd
General Information
Standard status
Active
Size
5,000 SF
Elevators
Yes
Property subtype
OFFICE
Additional Details
Public Transit
Yes
Amenities
beautiful 2 story atrium
on-site management/maintenance
Building Details
Tenancy
Multi
Listing Agency:
NAI Emory Hill
(302) 322-9500
Listed By:
David Morrison
(302) 668-8700
Source:
Moodyscre
Added: Apr 15, 2025
Changed: Oct 26
Last Checked: Nov 4 at 1:42PM
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 NAI Emory Hill
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Investment Insights
Based on property information with market context.
This for-sale medical office space is offered in shell condition, providing flexibility for an end user or tenant buildout. The property features a beautiful two-story atrium and is elevator served for multi-level access. The space is approximately 5,000 SF.
On-site operations are supported by on-site management and maintenance. Parking is a strong operational asset, with 400+ surface spaces available for patients, staff, and visitors. The tenant mix is described as diverse within the medical space, and public transportation is accessible, supporting convenient day-to-day access.
Overall, the combination of elevator service, a prominent two-story atrium, and extensive surface parking can support a range of medical office configurations once the interior improvements are completed.
On-site operations are supported by on-site management and maintenance. Parking is a strong operational asset, with 400+ surface spaces available for patients, staff, and visitors. The tenant mix is described as diverse within the medical space, and public transportation is accessible, supporting convenient day-to-day access.
Overall, the combination of elevator service, a prominent two-story atrium, and extensive surface parking can support a range of medical office configurations once the interior improvements are completed.
Key Highlights
- Approximately 5,000 SF medical office space offered in shell condition
- Beautiful two‑story atrium
- Elevator served
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,103
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,362,060
$1.4M
Cap Rate 7%
$972,900
$972.9K
Cap Rate 9%
$756,700
$756.7K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$112.8K $22.56/SF
− Vacancy
−$22.0K −$4.40/SF
EGI
$90.8K $18.16/SF
− OpEx
−$22.7K −$4.54/SF
NOI
$68.1K $13.62/SF
Area
New Castle County, DE
Vacancy
19.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,362,060
Cap Rate 7%
$972,900
Cap Rate 9%
$756,700
Alternative Uses
Best Use
Healthcare Medical
$1.03M
$901.7K – $1.20M
NOI $72,135 @ 7.0% cap · market cap 9.62%
Second Best
Office B
$972.9K
$851.3K – $1.14M
NOI $68,103 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,717 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 19713, DE
31,867
Population
12,803
Households
2.5
Avg Household Size
38
Median Age
30%
College-Educated
90%
High-School Grad
13.0 sq mi
ZIP Area
2,451
Density / Sq Mi
$72,850
Median Household Income
$42,557
Median Earnings
$1,293
Median Rent
$267,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Shell medical office with a two-story atrium and elevator service, supported by 400+ parking spaces.
Where is this medical office space located?
The property is located at 774 Christiana Rd Newark, DE.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 5,000 SF medical office space offered in shell condition; Beautiful two‑story atrium; Elevator served
