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Property profile & analytics
FOR LEASE
Office Spaces

211 Lake Dr Newark, DE 19702

40,914 SF 4.65 ac lot Built 1988
Entity Owned 16-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US17-0184341
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1988
Construction CONCRETE
Total area 40,914 SF
Lot 4.65 ac (202,554 SF)
Zoning code BP
APN 11-021.00-018
UPID US17-0184341
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
  • The Alias Group Production Facility
  • Coventry Health Care Inc Insurance Agency
  • Mussel Buster Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
  • Alias Cann Business Service Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$6.42M
Comparable Approach Comparable
$4.31M
Blend (final) Blend
$5.43M
Owner & transaction history
Pencader IV LLC · 16 yrs held
Pencader IV LLC
since 2010
2 recorded transactions
2010
Price N/A
1969
Price N/A
Zoning & alternative use
BP · Newark, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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