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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    121 Main St Newark, DE 19711-7940

    • Grocery and convenience stores
    • 1,950 SF
    • 0.25 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0468632
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 121 Main St

    Year built
    1948
    Construction
    CONCRETE
    Lot size
    0.25 lot acres
    Property size
    1,950 SF
    Zone code
    18BC
    Property type
    Grocery and convenience stores
    APN
    18-025.00-216
    APU
    1802500216

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $193,000
      Market price range: $171k - $385k

    • Alternative Use

      Use
      Estimation
      SERVICE STATION (FULL SERVICE)
      $285,000
      Current use
      MEDICAL BUILDING
      $405,000
      Change: +43% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $370,000
      Change: +31% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7597
    Latitude
    39.6795
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,485
    $54,500
    $69,100
    $123,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $435,000
      3,401 SF

      668 Paper Ml Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 3,401 SF
      668 Paper Ml Rd, Newark, DE 19711-7516
      View Details
    • Value Estimation
      $935,000
      34,500 SF

      403 New London Rd

      GROCERY, SUPERMARKET • 34,500 SF
      403 New London Rd, Newark, DE 19711-7009
      View Details
    • Value Estimation
      $1,070,000
      49,591 SF

      100 Grv Ln

      GROCERY, SUPERMARKET • 49,591 SF
      100 Grv Ln, Newark, DE 19711-5481
      View Details
    • Value Estimation
      $410,000
      2,928 SF

      202 Main St

      CONVENIENCE STORE • 2,928 SF
      202 Main St, Newark, DE 19711-4561
      View Details
    • Value Estimation
      $450,000
      2,640 SF

      11 Red Ml Rd

      CONVENIENCE STORE • 2,640 SF
      11 Red Ml Rd, Newark, DE 19711-6665
      View Details
    • Value Estimation
      $1,835,000
      1,731 SF

      2603 Capitol Trl

      CONVENIENCE STORE (W/FUEL PUMP) • 1,731 SF
      2603 Capitol Trl, Newark, DE 19711-7253
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,512 SF

      Newark Retail Space on Main

      New construction retail space in the heart of Newark, DE.
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      Downtown Newark Office/Retail Space

      Adaptable office and retail space in Downtown Newark, Delaware.
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    • $7,970,939
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      Newark Retail Property For Sale

      Retail property with long-term net lease in affluent area.
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      7,590 SF

      Prime Retail Opportunity on Main

      High-visibility retail space in downtown Newark near University of Delaware.
      165 E Main St, Newark, DE 19711
      View Details
    • $100,000
      3,648 SF

      Turnkey Restaurant Opportunity For Sale

      Fully equipped restaurant with favorable lease terms for sale.
      168 E Main St, Newark, DE 19711
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    • $2,500,000
      11,578 SF

      Main Street Newark Office Space

      11,578 SF office space in the heart of Newark.
      77 E Main St, Newark, DE 19711
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    Similar Nearby for Lease

    • Contact for pricing
      52,027 SF

      Astro Shopping Center Retail Space

      Newark, DE: Prime Retail Storefront Available
      102 Astro Shopping Ctr, Newark, DE 19711
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    • Contact for pricing

      Prime Pad Site Opportunity

      Pad site for lease in a densely populated Newark area.
      Astro Shopping Ctr, Newark, DE 19711
      View Details
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      6,500 SF

      Retail Space Near University Campus

      Retail space previously occupied by University of Delaware program.
      1 S Main St, Newark, DE 19711
      View Details
    • Contact for pricing
      2,052 SF

      Retail Space Near Main Street

      Retail space available in Newark, Delaware, near popular establishments.
      164 E Main St, Newark, DE 19711
      View Details
    • $15 SF/Yr
      2,767 SF

      Kirkwood Highway Retail/Office Space

      Versatile space on Kirkwood Highway with high visibility.
      1923 Capitol Trl, Newark, DE 19711
      View Details
    • Contact for pricing
      10,900 SF

      Retail Space on Main Street

      Retail space available for lease in Newark, Delaware.
      124-128 East Main St, Newark, DE 19711
      View Details
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    121 Main St
    Newark, DE 19711-7940
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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.

    More about this property
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