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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Retail space
2405 Pulaski Hwy, Newark, DE 19702-3905
Individually Owned
1-yr Hold
Free & Clear
Property ID
US17-0120843
Property summary
AI-generated overview
This exceptional 1,200 square foot storefront, located at 2405 Pulaski Highway in Newark, Delaware, presents a compelling investment opportunity. Situated on a 0.25-acre lot (APN 1102600044), this single-story building, constructed in 1960, benefits from a highly visible location at the intersection of US Route 40 and old Route 896, providing excellent exposure to high traffic counts. Its strategic position offers easy access to major thoroughfares including Route 40, Route 896, and I-95, connecting businesses to key markets in Delaware and Maryland. The property is zoned CR and currently occupied by a tenant, with the lease expiring January 31, 2025. The surrounding area is experiencing significant growth, featuring a diverse mix of residential and commercial developments, including proximity to the Peoples Plaza Shopping Center. This presents a unique chance to acquire a well-positioned retail space in a thriving Delaware community. The asking price is $695,000.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Construction
CONCRETE
Total area
1,161 SF
Lot
0.25 ac (10,890 SF)
Zoning code
CR
APN
11-026.00-044
UPID
US17-0120843
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
-
Enterprise Rent-A-Car Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$385k
Blend (final)
Blend
$530k
Owner & transaction history
Fahmi H Lutf · 1 yrs held
Fahmi H Lutf
since 2025
Last sale
$575,000
4 recorded transactions
Zoning & alternative use
CR · Newark, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$445,000
+67.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Newark submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newark submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$445,000
Change: +68% · Conversion: Easy
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $575k (Feb 14 2025)
Last sale anchor
$575k
Feb 14 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$457 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,173
Tax year 2023
Assessed value
$99,800
Assessed 2023
Previous assessed
$99,800
+0.0% YoY
Effective rate
4.18%
On assessed value
Assessed land
$43,600
Assessed improvement
$56,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
1,161 SF
Lot
0.25 ac (10,890 SF)
Zoning code
CR
APN
11-026.00-044
UPID
US17-0120843
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CR · Newark, DE
Zoning CR · permitted uses
CR · Newark, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newark. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$445,000
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
Fahmi H Lutf
Individual
Free & Clear · 1 yrs held
Mailing address
1732 OLD COOCHS BRG RD, NEWARK, DE 19702-2428
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2025
$575,000
Fahmi H Lutf
Anthony L August
Special Warranty Deed
—
Dec 18, 2006
$10
August,anthony L Tr
Hudson,scott & Nicole A
Grant Deed
—
—
—
Anthony L August
—
Deed Of Trust
related
$60,000 · Department/natural Rsrcs & Env
—
—
Scott Hudson
—
Deed Of Trust
related
$118,916 · Delaware Water Pollution Control
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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