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    Property profile & analytics

    248 Chapman Rd Newark, DE 19702

    • Office Properties & Spaces
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • AECOM Technical Services / Engineering Consultant
    • Eds Health Benefit Manager / Insurance Agency
    • HPE / Corporate Office
    • BPG Management Services Inc / Business Management Consultant / Professional Services

    Property Details for 248 Chapman Rd

    Property type
    Office Properties & Spaces
    Property subtype
    Office space

    Description

    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.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6784
    Latitude
    39.6673

    Comparable in this City

    • Value Estimation by Request
      1,465 SF

      50 Old Baltimore Pike

      OFFICE (GENERAL) • 1,465 SF
      50 Old Baltimore Pike, Newark, DE 19702
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    • Value Estimation by Request
      43,000 SF

      110 Lk Dr

      OFFICE (GENERAL) • 43,000 SF
      110 Lk Dr, Newark, DE 19702-3317
      View Details
    • Value Estimation by Request
      15,608 SF

      260 Chapman Rd

      OFFICE (GENERAL) • 15,608 SF
      260 Chapman Rd, Newark, DE 19702-5490
      View Details
    • Value Estimation by Request
      3,575 SF

      2314 Glasgow Ave

      Office Properties & Spaces • 3,575 SF
      2314 Glasgow Ave, Newark, DE 19702
      View Details
    • Value Estimation by Request
      700 SF

      305 Mederia Cir

      OFFICE (GENERAL) • 700 SF
      305 Mederia Cir, Newark, DE 19702-1562
      View Details
    • Value Estimation
      $420,000
      364 SF

      94 Albe Dr

      OFFICE (GENERAL) • 364 SF
      94 Albe Dr, Newark, DE 19702-1364
      View Details

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    Similar Nearby for Lease

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      13,070 SF

      Class A Office Space Available

      Office space with loading dock and high ceilings for rent.
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    • $19 SF/Yr
      1,120 SF

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    • $19 SF/Yr
      5,300 SF

      Newark Office Space For Rent

      185,000 SF office park near I-95/Route 273 interchange.
      258 Chapman Rd, Newark, DE 19702
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    • $19 SF/Yr
      3,807 SF

      Office Space with Ample Parking

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      262 Chapman Rd, Newark, DE 19702
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    • Contact for pricing
      2,526 SF

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      Office and medical suites available for rent with strong tenant mix.
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    248 Chapman Rd
    Newark, DE 19702
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    Realmo Value Estimation

    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.

    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.

    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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