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Property profile & analytics
OFF-MARKET
Estimated value
$4,885,000
Office Spaces
101 Lk Dr Newark, DE 19702-3318
Entity Owned
5-yr Hold
Free & Clear
Property ID
US17-0314754
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1988
Construction
CONCRETE
Total area
10,880 SF
Lot
5.96 ac (259,618 SF)
Zoning code
BP
APN
11-021.00-019
UPID
US17-0314754
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
UOVO Delaware Storage Facility
-
UOVO Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.57M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.31M
Blend (final)
Blend
$4.89M
Owner & transaction history
101 Lake Newark LLC · 5 yrs held
101 Lake Newark LLC
since 2021
Last sale
$4.5M
6 recorded transactions
Zoning & alternative use
BP · Newark, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Newark submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newark submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,685,000
ML approach
$5,565,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.89M
Range $4.40M – $5.37M · ±10% · vs last sale $4.50M (May 24 2021)
Last sale anchor
$4.50M
May 24 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$449 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$58,448
Tax year 2023
Assessed value
$1,397,700
Assessed 2023
Previous assessed
$1,397,700
+0.0% YoY
Effective rate
4.18%
On assessed value
Assessed land
$208,600
Assessed improvement
$1,189,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
10,880 SF
Lot
5.96 ac (259,618 SF)
Zoning code
BP
APN
11-021.00-019
UPID
US17-0314754
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
BP · Newark, DE
Zoning BP · permitted uses
BP · Newark, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newark. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1988
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
5.96 ac
Current owner
From public records · entity-resolved
101 Lake Newark LLC
Entity
Free & Clear · 5 yrs held
Mailing address
26 W 17TH ST STE #801, NEW YORK, NY 10011-5787
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2022
—
101 Lake Newark LLC
—
Deed
related
$7,605,000 · Truist Bank
May 24, 2021
$4,500,000
101 Lake Newark LLC
101 Lake Drive LLC
Deed
—
Nov 30, 2017
—
101 Lake Drive LLC
—
Deed
related
$1,188,000 · Community Dev Commission
Nov 14, 2016
$2,550,000
101 Lake Drive LLC
Pencader V LP LLP
Grant Deed
$1,450,000 · Citizens Bk/pa
Apr 1, 2004
—
Pencader V LP
—
Deed Of Trust
related
$12,500,000 · General Electric Capital Corp
—
—
101 Lake Drive LLC
—
Deed Of Trust
related
$1,188,000 · Community Dev Commission
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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