Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1 University Dr Newark, DE 19702

    • Lifestyle centers
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Primo Water Exchange / Big Box & Wholesale Store
    • ACME Markets / Grocery & Convenience Store / Food Market
    • Citizens Supermarket Branch / Bank / Loan Service
    • Citizens Bank / Atm

    Property Details for 1 University Dr

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    University Plaza Shopping Center, located at 1 University Dr, Newark, DE 19702, offers exceptional retail space for lease in a prime New Castle County location. This Class A shopping center features multiple tenancies, providing a vibrant and diverse retail environment. Currently, two spaces are available, offering flexible sizes ranging from approximately 4,000 square feet to 29,386 square feet, allowing for a variety of business needs. The property's strategic location in Newark, Delaware, ensures high visibility and accessibility for customers. The address, 1 University Dr, provides convenient access to major roadways and a substantial customer base. The available spaces present a unique opportunity for businesses seeking a prominent location within a thriving retail center. The property type is retail, specifically a shopping center, making it ideal for a range of retail concepts. The building's Class A designation reflects its high-quality construction and modern amenities. With approximately 4,785 square feet currently available for lease, this presents a significant opportunity for expansion or establishment of a new business in a high-traffic area. The property's location within New Castle County, Delaware, offers access to a strong local economy and a large consumer market. Interested parties are encouraged to inquire about lease terms and availability for these exceptional retail spaces.

    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
    -75.67
    Latitude
    39.6675

    Comparable in this City

    • Value Estimation by Request
      194,171 SF

      273 Rte

      Lifestyle centers • 194,171 SF
      273 Rte, Newark, DE 19702
      View Details
    • Value Estimation
      $2,820,000
      102,918 SF

      1 University Plz

      MINI-MALL • 102,918 SF
      1 University Plz, Newark, DE 19702-1549
      View Details
    • Value Estimation by Request
      5,400 SF

      1424 Pulaski Hwy

      MINI-MALL • 5,400 SF
      1424 Pulaski Hwy, Newark, DE 19702-5108
      View Details
    • Value Estimation by Request
      11,942 SF

      2824 Pulaski Hwy

      SHOPPING CENTER, STRIP CENTER • 11,942 SF
      2824 Pulaski Hwy, Newark, DE 19702-3913
      View Details
    • Value Estimation
      $705,000
      6,008 SF

      1 Peddlers Row

      SHOPPING CENTER, STRIP CENTER • 6,008 SF
      1 Peddlers Row, Newark, DE 19702
      View Details
    • Value Estimation by Request
      10,368 SF

      100 Troubador Way

      SHOPPING CENTER, STRIP CENTER • 10,368 SF
      100 Troubador Way, Newark, DE 19702-4460
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      194,171 SF

      Christiana Town Center Retail Space

      High-traffic Delaware shopping center
      0 Rte 273, Newark, DE 19702
      View Details
    • Contact for pricing

      Retail Opportunity in Newark

      Retail property available for sale in Christiana Town Center.
      273 | Christiana Town Ctr Rte, Newark, DE 19702
      View Details
    • Contact for pricing
      547,239 SF

      Peoples Plaza Retail Opportunity

      Retail property with strong tenant history and convenient Park & Ride.
      100-950 Peoples Plz, Newark, DE 19702
      View Details
    • Contact for pricing

      Fully Leased Retail Center

      Retail center with diverse mix of tenants and convenient access.
      Fashion Ctr Blvd, Newark, DE 19702
      View Details
    • $890,000
      6,000 SF

      Newark Office Building For Sale

      Commercial building with office space and long-term lease.
      1003 S Chapel St, Newark, DE 19702
      View Details
    • $605,000

      Specialty Property For Sale

      Specialty property available for purchase.
      15 Moonlight Ct, Newark, DE 19702
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      134,423 SF

      Four Seasons Plaza Retail Space

      Newark, DE Retail Center - 5,500 SF Available
      500 Plaza Dr, Newark, DE 19702
      View Details
    • Contact for pricing
      44,000 SF

      Lagrange Retail Center: Newark, DE

      Prime Retail Space, Delaware. High-traffic location.
      2675 Pulaski Hwy, Newark, DE 19702
      View Details
    • Contact for pricing
      43,560 SF

      Newark Retail Pad Site Investment

      Prime 1-Acre Pad Site for Lease
      2800 Pulaski Hwy, 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
      View Details
    • $20 SF/Yr
      5,500 SF

      Retail Space in Four Seasons

      Retail spaces available in high-visibility neighborhood shopping center.
      500-660 Plaza Dr, Newark, DE 19702
      View Details
    • $20 SF/Yr
      65,000 SF

      High-Visibility Retail Center Space

      Retail spaces in high-traffic Newark shopping center for lease.
      500-700 Plaza Dr, Newark, DE 19702
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 University Dr
    Newark, DE 19702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.