Property profile

248 Chapman Rd Newark, DE 19702

OFF-MARKET
Office Spaces
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Property summary

AI-generated overview

This exceptional office property at 248 Chapman Road in Newark, Delaware offers multiple tenancy options, ideal for businesses seeking flexible space. The building provides a total of 9,436 to 19,628 square feet of office space, with two suites currently available. Located in New Castle County, this property boasts a highly convenient location, less than a mile from the I-95 Interchange with Route 273, ensuring easy access for employees and clients. The property benefits from its proximity to a wide array of amenities, the University of Delaware, and a large pool of skilled workers. First-floor spaces offer the advantage of direct exterior access, enhancing convenience and accessibility. Ample parking is provided at a generous rate of 4.5 spaces per 1,000 square feet. Further enhancing the property's appeal, the lobby is scheduled for renovations and updates in Spring 2024. This presents a unique opportunity to secure high-quality office space in a thriving Delaware location. The property is situated at 248 Chapman Rd, Newark, DE 19702.

Property profile

Verified
Property type Office Spaces

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Engineering Consultant
  • Insurance Agency
  • Corporate Office
  • Business Management Consultant Professional Services

Location

248 Chapman Rd Newark, DE 19702
Newark metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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