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    240 Continental Dr Newark, DE 19713
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    240 Continental Dr Newark, DE 19713

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    • Office properties & Spaces
    • 20,327 SF
    • 2.85 lot acres
    For Lease
    $26 SF/Yr
    View Listing →
    Office Space Near I-95 For Lease
    $26 SF/Yr
    2,015 SF

    Office Space Near I-95

    Office space for rent in Christiana Executive Campus.

    240 Continental Dr, Newark, DE
    View Listing
    Property ID
    US17-0314720
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aerotek / Employment Agency
    • Aston Carter / Employment Agency
    • Tetra Tech / Environmental Consultant / Architect
    • Tt office-DE / Corporate Office

    Property Details for 240 Continental Dr

    Year built
    1989
    Construction
    BRICK
    Lot size
    2.85 lot acres
    Property size
    20,327 SF
    Zone code
    OR
    Property type
    Office properties & Spaces
    APN
    09-018.00-075
    APU
    901800075

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,455,000
      6.5%
      $3,185,000
      7%
      $2,960,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,140,000
      Market price range: $2.01M - $5.65M

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6598
    Latitude
    39.6863
    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
    $67,299
    $372,400
    $1,824,400
    $2,196,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      4923 Ogletown Stanton Rd

      Office properties & Spaces
      4923 Ogletown Stanton Rd, Newark, DE 19713
      View Details
    • Value Estimation by Request
      13,132 SF

      4735 Ogletown Stanton Rd

      Medical Office Space • 13,132 SF
      4735 Ogletown Stanton Rd, Newark, DE 19713
      View Details
    • Value Estimation
      $6,000,000
      22,208 SF

      200 Commerce Dr

      OFFICE (GENERAL) • 22,208 SF
      200 Commerce Dr, Newark, DE 19713-6804
      View Details
    • Value Estimation
      $6,180,000
      21,625 SF

      200 Continental Dr

      OFFICE (GENERAL) • 21,625 SF
      200 Continental Dr, Newark, DE 19713-4334
      View Details
    • Value Estimation by Request
      1,350 SF

      224 Kimberton Dr

      OFFICE (GENERAL) • 1,350 SF
      224 Kimberton Dr, Newark, DE 19713
      View Details
    • Value Estimation by Request
      1,224 SF

      72 Omega Dr

      OFFICE (GENERAL) • 1,224 SF
      72 Omega Dr, Newark, DE 19713-2063
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,132 SF

      Medical Office Space Opportunity

      Medical office space for sale near Christiana Hospital Campus.
      4735 Ogletown Stanton Rd, Newark, DE 19713
      View Details
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      2,955 SF

      Office Building on College Avenue

      Office building for sale on busy S. College Avenue.
      907 S College Ave, Newark, DE 19713
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      Two Hilton Hotels in Newark

      Two Hilton hotels for sale in Newark, Delaware.
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      20,000 SF

      Retail Property in Newark, Delaware

      20,000 square foot retail property available for sale.
      60-74 Geoffrey Dr, Newark, DE 19713
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      4,600 SF

      Restaurant Opportunity in Growth Market

      Restaurant space for sale in a high-income, growing area.
      481 Stanton Christiana Rd, Newark, DE 19713
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Office Space in Newark

      Sub-Lease opportunity in a highly populated trade area.
      1325 Churchmans Rd, Newark, DE 19713
      View Details
    • Contact for pricing
      3,422 SF

      Office Space Near I-95

      Office space available for rent near I-95.
      131 Continental Dr, Newark, DE 19713
      View Details
    • $25 SF/Yr

      Renovated Office Space Near I-95

      Modern, move-in ready office space with flexible suite options.
      4051 Ogletown Stanton Rd, Newark, DE 19713
      View Details
    • Contact for pricing

      Prestigious Newark Office Space

      Dynamic workspaces in the heart of Delaware, close to Wilmington.
      200 Continental Dr, Newark, DE 19713
      View Details
    • Contact for pricing
      16,240 SF

      Office Space with Fitness Center

      Office space featuring a fitness center and on-site cafes.
      750 Prides Xing, Newark, DE 19713
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      Office Space in Corporate Center

      Office space available for rent in Christiana Corporate Center.
      100 Commerce Dr, Newark, DE 19713
      View Details
    View Listing
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    Newark, DE 19713
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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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