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

    1600 Newport Pike Wilmington, DE 19804

    • Manufacturing properties
    • 13,283 SF
    • 0.75 lot acres
    For Lease
    View listing
    $22 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0232918
    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

    • DT Online / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • Meghana Desai, Meghana / Pharmacy
    • WSFS ATM / Atm
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Chris’s Auto Repair LLC / Auto Repair Shop

    Property Details for 1600 Newport Pike

    Year built
    1965
    Construction
    CONCRETE
    Lot size
    0.75 lot acres
    Property size
    13,283 SF
    Zone code
    CR
    Property type
    Manufacturing properties
    APN
    07-047.20-152
    APU
    704720152

    Description

    First State Plaza, a prominent 164,779 square foot retail center in Wilmington, Delaware, presents a unique investment opportunity. This multi-tenant strip mall boasts high visibility on West Newport Pike, offering exceptional access to major roadways including I-95, I-295, I-495, and Route 1. The property's strategic location places it within close proximity to Delaware Park and Christiana Mall, ensuring significant foot traffic and consumer reach. Currently, seven suites are available, ranging from a minimum of 1,200 square feet to a maximum contiguous space of 7,400 square feet. A substantial 165,012 square feet of space is currently vacant, providing ample opportunity for expansion or diversification. The center is anchored by established national tenants such as ShopRite and McDonald's, further enhancing its appeal and drawing power. Additional co-tenants include a US Post Office, Dollar Tree, and a Cinemark Movie Theater, creating a diverse and attractive retail environment. Ample parking is available with 668 spaces to accommodate customers and employees. Located in New Castle County, Delaware, with a zip code of 19804, this property offers a compelling combination of size, location, and established tenancy, making it an ideal investment for a variety of retail businesses. The property's high visibility and convenient access to major transportation arteries ensure maximum exposure and accessibility for potential tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $678,000
      Market price range: $380k - $936k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $680,000
      Current use
      WAREHOUSE, STORAGE
      $720,000
      Change: +7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6033
    Latitude
    39.716
    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
    2024
    $9,765
    $65,300
    $198,100
    $263,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4,900 SF

      3 Meco Cir

      MANUFACTURING (LIGHT) • 4,900 SF
      3 Meco Cir, Wilmington, DE 19804-1108
      View Details
    • Value Estimation by Request
      7,171 SF

      9 Germay Dr

      MANUFACTURING (LIGHT) • 7,171 SF
      9 Germay Dr, Wilmington, DE 19804-1155
      View Details
    • Value Estimation by Request
      5,292 SF

      400 Harvey Dr

      MANUFACTURING (LIGHT) • 5,292 SF
      400 Harvey Dr, Wilmington, DE 19804-2417
      View Details
    • Value Estimation by Request
      0.34 Acres

      11 Brookside Dr

      MANUFACTURING (LIGHT) • 0.34 Acres
      11 Brookside Dr, Wilmington, DE 19804-1101
      View Details
    • Value Estimation
      $1,245,000
      20,420 SF

      13 Brookside Dr

      MANUFACTURING (LIGHT) • 20,420 SF
      13 Brookside Dr, Wilmington, DE 19804
      View Details
    • Value Estimation by Request
      2.07 Acres

      Thoms Dr

      INDUSTRIAL (GENERAL) • 2.07 Acres
      Thoms Dr, Wilmington, DE 19804
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      27,136 SF

      Newport Flex Space Opportunity

      End-cap unit in First State Industrial Park, available 1/1/25.
      1300 First State Blvd, Wilmington, DE 19804
      View Details
    • $489,900

      Wilmington Specialty Property For Sale

      Specialty property available for purchase in Wilmington, Delaware.
      409 Boxwood Rd, Wilmington, DE 19804
      View Details
    • $995,000

      Commercial Land For Sale

      Commercial land available for sale.
      2417 W Newport Pike, Wilmington, DE 19804
      View Details
    • $725,000
      5,237 SF

      Mixed-Use Investment Property For Sale

      Mixed-use property with retail and residential units on Maryland Avenue.
      204 N Maryland Ave, Wilmington, DE 19804
      View Details
    • $4,500,000
      42,706 SF

      Renovated Building in Central Business

      42,706 sqft renovated building suitable for housing/hotel conversion.
      704-706 N Market St, Wilmington, DE 19804
      View Details
    • $295,000

      Wilmington Specialty Property for Sale

      Specialty property available for purchase in Wilmington, Delaware.
      517 Mansion Rd, Wilmington, DE 19804
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      4,490 SF

      Flex Warehouse Space Available

      Flex warehouse spaces with drive-in doors and recent renovations.
      6 Hadco Rd, Wilmington, DE 19804
      View Details
    • $10 SF/Yr
      21,136 SF

      Wilmington Office/Lab Space for Lease

      Prime Delaware Lab Space - 7,808 SF Available
      1300 First State Blvd, Wilmington, DE 19804
      View Details
    • Contact for pricing
      4,300 SF

      Wilmington Warehouse: 4,300 SF

      Prime Delaware warehouse, ample parking, high visibility.
      1307 Newport Gap Pike, Wilmington, DE 19804
      View Details
    • Contact for pricing
      1,528 SF

      Flexible Office and Warehouse Space

      Office suites and flex warehouse space available with convenient access.
      240 N James St, Wilmington, DE 19804
      View Details
    • Contact for pricing
      2,500 SF

      Stand-Alone Flex/Office Space Available

      2,500 SF flex/office space with dedicated parking lot.
      205 N James St, Wilmington, DE 19804
      View Details
    • Contact for pricing
      3,000 SF

      Studio & Production Warehouse Space

      3,000 SF studio, production, and warehouse space for lease.
      401 E Marsh Ln, Wilmington, DE 19804
      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.
    1600 Newport Pike
    Wilmington, DE 19804
    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.