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    2405 Pulaski Hwy Newark, DE 19702-3905

    • Retail space
    • 1,161 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2025
    $575,000
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0120843
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Enterprise Rent-A-Car / Car Rental Agency / Van Rental Agency

    Property Details for 2405 Pulaski Hwy

    Year built
    1960
    Construction
    CONCRETE
    Lot size
    0.25 lot acres
    Property size
    1,161 SF
    Zone code
    CR
    Property type
    Retail space
    APN
    11-026.00-044
    APU
    1102600044

    Description

    This exceptional 1,200 square foot storefront, located at 2405 Pulaski Highway in Newark, Delaware, presents a compelling investment opportunity. Situated on a 0.25-acre lot (APN 1102600044), this single-story building, constructed in 1960, benefits from a highly visible location at the intersection of US Route 40 and old Route 896, providing excellent exposure to high traffic counts. Its strategic position offers easy access to major thoroughfares including Route 40, Route 896, and I-95, connecting businesses to key markets in Delaware and Maryland. The property is zoned CR and currently occupied by a tenant, with the lease expiring January 31, 2025. The surrounding area is experiencing significant growth, featuring a diverse mix of residential and commercial developments, including proximity to the Peoples Plaza Shopping Center. This presents a unique chance to acquire a well-positioned retail space in a thriving Delaware community. The asking price is $695,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $385,000
      Market price range: $136k - $385k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7457
    Latitude
    39.6058
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,173
    $43,600
    $56,200
    $99,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $340,000
      2,183 SF

      2688 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,183 SF
      2688 Pulaski Hwy, Newark, DE 19702-3915
      View Details
    • Value Estimation by Request
      194,171 SF

      273 Rte

      Individual retail properties • 194,171 SF
      273 Rte, Newark, DE 19702
      View Details
    • Value Estimation
      $1,280,000
      113,295 SF

      20 Peoples Plz

      RETAIL STORES (PERSONAL SERVICES) • 113,295 SF
      20 Peoples Plz, Newark, DE 19702
      View Details
    • Value Estimation
      $350,000
      4,086 SF

      1466 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES) • 4,086 SF
      1466 Pulaski Hwy, Newark, DE 19702-5108
      View Details
    • Value Estimation
      $305,000
      1,086 SF

      3124 Pulaski Hwy

      RETAIL STORES (PERSONAL SERVICES) • 1,086 SF
      3124 Pulaski Hwy, Newark, DE 19702-2118
      View Details
    • Value Estimation
      $605,000
      18,000 SF

      810 Pencader Dr

      RETAIL STORES (PERSONAL SERVICES) • 18,000 SF
      810 Pencader Dr, Newark, DE 19702-3362
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      194,171 SF

      Christiana Town Center Retail Space

      High-traffic Delaware shopping center
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      Peoples Plaza Retail Opportunity

      Retail property with strong tenant history and convenient Park & Ride.
      100-950 Peoples Plz, Newark, DE 19702
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      Retail Opportunity in Newark

      Retail property available for sale in Christiana Town Center.
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      Fully Leased Retail Center

      Retail center with diverse mix of tenants and convenient access.
      Fashion Ctr Blvd, Newark, DE 19702
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    • $2,450,000
      8,100 SF

      Car Wash and Flex Building

      Car wash and flex building on heavily traveled Old Baltimore Pike.
      106 Albe Dr, Newark, DE 19702
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      Newark Childcare Center: Business & Building Sale

      Established Daycare, 5,450 SF, Delaware
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    Similar Nearby for Lease

    • $1,750 /Mo
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      Retail Space Near Smalleys Dam

      Versatile 1,200 SF retail space in a residential area.
      Newark, DE 19702
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      Prime Newark, DE Retail Outparcels
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      Versatile 1,200 SF retail space with easy access.
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      Lagrange Retail Center: Newark, DE

      Prime Retail Space, Delaware. High-traffic location.
      2675 Pulaski Hwy, Newark, DE 19702
      View Details
    • $20 SF/Yr
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      High-Visibility Retail Center Space

      Retail spaces in high-traffic Newark shopping center for lease.
      500-700 Plaza Dr, Newark, DE 19702
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    • Contact for pricing
      5,500 SF

      Downtown Newark Commercial Space Available

      Prime commercial space for rent in downtown Newark.
      30 E Main St, Newark, DE 19702
      View Details
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    Newark, DE 19702-3905
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    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
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