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Property profile & analytics
OFF-MARKET
Estimated value
$6,195,000
Office Spaces
242 Chapman Rd Newark, DE 19702-5405
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US17-0138944
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1987
Construction
BRICK
Total area
21,824 SF
Lot
11.41 ac (497,020 SF)
Zoning code
CR
APN
09-029.00-010
UPID
US17-0138944
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
-
KBR Inc. Construction Company General Contractor
-
Technical Staffing Resources Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.90M
Blend (final)
Blend
$6.20M
Owner & transaction history
Rockford Chapman LLC · 9 yrs held
Rockford Chapman LLC
since 2016
3 recorded transactions
Zoning & alternative use
CR · Newark, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.20M
Range $5.58M – $6.81M · ±10%
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
$284 / 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
$334,499
Tax year 2023
Assessed value
$7,999,000
Assessed 2023
Previous assessed
$7,999,000
+0.0% YoY
Effective rate
4.18%
On assessed value
Assessed land
$1,242,600
Assessed improvement
$6,756,400
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1987
Construction
BRICK
Heating
YES
Cooling
YES
Buildings
3
Stories
2
Total area
21,824 SF
Lot
11.41 ac (497,020 SF)
Zoning code
CR
APN
09-029.00-010
UPID
US17-0138944
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.
Building & site characteristics
From public records
Year built
1987
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Lot
11.41 ac
Current owner
From public records · entity-resolved
Rockford Chapman LLC
Entity
Mailing address
219 W 9TH ST #230, WILMINGTON, DE 19801-1619
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2019
—
Rockford Chapman LLC
—
Loan Modification
related
$11,493,658 · Fulton Bk NA
Aug 24, 2016
—
Rockford Chapman LLC
Chapman Road Investors LLC
Deed
$11,662,500 · Fulton Bank NA
May 10, 2007
$13,975,000
Chapman Road Investors LLC
Northtowne INC
Deed
$12,000,000 · Bank Of America NA
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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