Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    211 Lake Dr Newark, DE 19702

    • Office Properties & Spaces
    • 40,914 SF
    • 4.65 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0184341
    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

    • The Alias Group / Automation Company / Business To Business Service
    • Coventry Health Care Inc / Insurance Agency / Home Health Care Service
    • Mussel Buster / Marine Supply Store
    • Alias Cann / Business Development Service

    Property Details for 211 Lake Dr

    Year built
    1988
    Construction
    CONCRETE
    Lot size
    4.65 lot acres
    Property size
    40,914 SF
    Zone code
    BP
    Property type
    Office Properties & Spaces
    APN
    11-021.00-018
    APU
    1102100018

    Description

    This exceptional 15,460-square-foot flex space is situated within the prestigious Pencader Corporate Center, a 350-acre business park in Newark, Delaware. The single-story building boasts a steel and brick construction, offering a modern and durable workspace. High ceilings, ranging from 10 to 16 feet, provide ample vertical space, while one loading dock and one drive-in door ensure efficient loading and unloading. The property features 210 paved parking spaces, providing ample parking for employees and visitors. The building is fully conditioned and equipped with a robust power supply, including a 2000-amp, 3-phase electrical service (480/277V) and a substantial 800-amp backup generator, ensuring uninterrupted operations. The property is conveniently located on Route 896, offering easy access to Interstate 95 and Route 40. The Pencader Corporate Center itself is known for its attractive landscaping, wide boulevards, and underground utilities. This space is zoned BP and is currently entirely vacant, offering immediate occupancy. The entire 15,460 square feet is available, though it is divisible. The property's location within this well-maintained business park provides a professional and appealing environment for businesses of all sizes. The ample parking and convenient access to major roadways make this an ideal location for companies seeking a functional and well-situated industrial space. The building's features, including the high ceilings and robust power supply, make it suitable for a variety of industrial and flex uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,120,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7522
    Latitude
    39.615
    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
    $91,468
    $162,800
    $2,024,500
    $2,187,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $320,000
      1,465 SF

      50 Old Baltimore Pike

      OFFICE (GENERAL) • 1,465 SF
      50 Old Baltimore Pike, Newark, DE 19702
      View Details
    • Value Estimation
      $1,140,000
      43,000 SF

      110 Lk Dr

      OFFICE (GENERAL) • 43,000 SF
      110 Lk Dr, Newark, DE 19702-3317
      View Details
    • Value Estimation
      $765,000
      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
      $700,000
      700 SF

      305 Mederia Cir

      OFFICE (GENERAL) • 700 SF
      305 Mederia Cir, Newark, DE 19702-1562
      View Details
    • Value Estimation
      $415,000
      364 SF

      94 Albe Dr

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

    Similar Nearby for Sale

    • Contact for pricing

      Corporate Campus Office Building

      Full-service office building in a corporate campus setting.
      100 Biddle Ave, Newark, DE 19702
      View Details
    • Contact for pricing
      28,050 SF

      Premier Newark Business Park

      350-acre business park with office spaces in Newark, Delaware.
      100 Lake Dr, Newark, DE 19702
      View Details
    • Contact for pricing

      Corporate Campus Office Building

      Office building in corporate campus setting with ample parking.
      300 Biddle Ave, 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
    • Contact for pricing
      29,750 SF

      Newark Office/Industrial Building For Sale

      29,750 SF office/industrial building in Pencader Corporate Center.
      211 Lake Dr, Newark, DE 19702
      View Details
    • Contact for pricing

      Corporate Campus Office Building

      Office building in corporate campus with ample parking.
      200 Biddle Ave, Newark, DE 19702
      View Details

    Similar Nearby for Lease

    • 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
      109,000 SF

      Glasgow Medical Center: Premier Office Space

      Medical Office Suites Available in Newark, DE
      2600 Glasgow Ave, Newark, DE 19702
      View Details
    • Contact for pricing
      13,070 SF

      Class A Office Space Available

      Office space with loading dock and high ceilings for rent.
      252 Chapman Rd, Newark, DE 19702
      View Details
    • $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
      View Details
    • $19 SF/Yr
      1,120 SF

      University Office Plaza Space Available

      Office space for rent in a dynamic six-building office park.
      260 Chapman Rd, Newark, DE 19702
      View Details
    • Contact for pricing
      5,267 SF

      Class A Office Building For Rent

      40,539 SF Class A office building constructed in 2018.
      620 Churchmans Rd, 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.
    211 Lake 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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.