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    Newark, DE 19702
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    , Newark, DE 19702

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    • Specialty properties
    • 5,450 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details

    Year built
    2003
    Property type
    Specialty properties
    Property subtype
    Day care centers

    Description

    This exceptional 5,450-square-foot daycare center in Newark, Delaware, presents a unique investment opportunity. Built in 2003, the property is currently vacant and available for lease. The building is a single-tenant structure, ideal for an established daycare operator or a new venture seeking a turnkey solution. Its strategic location on a major arterial road ensures high visibility and accessibility for parents and children. The property offers ample space to accommodate a substantial number of children and staff. The entire 5,450 square feet is available, providing flexibility for a prospective tenant to customize the layout and design to meet their specific needs. The seller is offering attractive lease terms, making this a compelling proposition for those interested in establishing or expanding their childcare business. This is a rare opportunity to acquire a well-situated, ready-to-occupy daycare center in a thriving Delaware community. The property's prime location and substantial size make it an attractive investment for long-term growth and profitability. The building's 2003 construction suggests a relatively modern structure with potentially updated amenities. The property's address is on S Old Baltimore Pike, Newark, DE 19702.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -95.368
    Latitude
    29.7211

    Comparable in this City

    • Value Estimation by Request
      1,792 SF

      109 Glasgow Dr

      DAY CARE, PRE-SCHOOL
      109 Glasgow Dr, Newark, DE 19702-4155
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    • Value Estimation
      $740,000
      9,900 SF

      300 Darling St

      DAY CARE, PRE-SCHOOL
      300 Darling St, Newark, DE 19702-3775
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    • Value Estimation by Request
      4,725 SF

      843 Salem Church Rd

      DAY CARE, PRE-SCHOOL
      843 Salem Church Rd, Newark, DE 19702-4015
      View Details
    • Value Estimation by Request
      2,750 SF

      10 Songsmith Dr

      DAY CARE, PRE-SCHOOL
      10 Songsmith Dr, Newark, DE 19702-4405
      View Details
    • Value Estimation by Request
      5,725 SF

      273 Old Baltimore Pike

      DAY CARE, PRE-SCHOOL
      273 Old Baltimore Pike, Newark, DE 19702-1420
      View Details
    • Value Estimation
      $660,000
      11,182 SF

      100 Paxson Dr

      DAY CARE, PRE-SCHOOL
      100 Paxson Dr, Newark, DE 19702-4738
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Approved Site for Child Care

      Approved site for child care center near residential developments.
      3605 Rockwood Rd, Newark, DE 19702
      View Details
    • Contact for pricing
      40,000 SF

      Retail Space Near Route 1

      Retail property with high traffic and anchor space available.
      East Songsmith Dr, Bear, DE 19702
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    • Contact for pricing
      13,070 SF

      Class A Office Space Available

      Office space with loading dock and high ceilings for rent.
      252 Chapman Rd, Newark, DE 19702
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    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Newark, Delaware.
      900 Center Blvd, Newark, DE 19702
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    • Contact for pricing
      278,876 SF

      Warehouse Space Available For Lease

      278,876 SF warehouse space available in Newark, Delaware.
      700 Dusk Run Rd, Newark, DE 19702
      View Details
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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.

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