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    260 Chapman Rd Newark, DE 19702

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    260 Chapman Rd Newark, DE 19702

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    • Office properties & Spaces
    • 15,608 SF
    • 3.90 lot acres
    For Lease
    $19 SF/Yr
    View Listing →
    University Office Plaza Space Available For Lease
    $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
    View Listing
    Property ID
    US17-0290154
    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

    • Brand Builder Solutions / Marketing & Advertising
    • Olive Grill / Restaurant
    • Ramada Newark/Wilmington / Hotel & Motel
    • Talk With Twila Ministries, LLC / Counselor / Family Counselor
    • Vensoft LLC / (Bike/Boat/Book/etc) Store / Corporate Office

    Property Details for 260 Chapman Rd

    Year built
    1973
    Construction
    CONCRETE
    Lot size
    3.90 lot acres
    Property size
    15,608 SF
    Zone code
    CR
    Property type
    Office properties & Spaces
    APN
    09-029.00-022
    APU
    902900022

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,216,000
      Market price range: $769k - $4.22M

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6748
    Latitude
    39.6688
    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
    $119,000
    $425,100
    $2,420,600
    $2,845,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
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      50 Old Baltimore Pike

      OFFICE (GENERAL) • 1,465 SF
      50 Old Baltimore Pike, Newark, DE 19702
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    • Value Estimation
      $6,880,000
      43,000 SF

      110 Lk Dr

      OFFICE (GENERAL) • 43,000 SF
      110 Lk Dr, Newark, DE 19702-3317
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    • Value Estimation by Request
      3,575 SF

      2314 Glasgow Ave

      Office properties & Spaces • 3,575 SF
      2314 Glasgow Ave, Newark, DE 19702
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      700 SF

      305 Mederia Cir

      OFFICE (GENERAL) • 700 SF
      305 Mederia Cir, Newark, DE 19702-1562
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      364 SF

      94 Albe Dr

      OFFICE (GENERAL) • 364 SF
      94 Albe Dr, Newark, DE 19702-1364
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    • Value Estimation by Request
      528 SF

      1034 Chapel St

      OFFICE (GENERAL) • 528 SF
      1034 Chapel St, Newark, DE 19702-1303
      View Details

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      Corporate Campus Office Building

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      29,750 SF office/industrial building in Pencader Corporate Center.
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    • $890,000
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      Newark Office Building For Sale

      Commercial building with office space and long-term lease.
      1003 S Chapel St, Newark, DE 19702
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      Corporate Campus Office Building

      Office building in corporate campus with ample parking.
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      Office Space on Pulaski Highway

      Office suites available in busy shopping center near transit.
      1200-1400 Peoples Plz, Newark, DE 19702
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      Corporate Campus Office Building

      Full-service office building in a corporate campus setting.
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    Similar Nearby for Lease

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      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
    • Contact for pricing
      3,117 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
      8,002 SF

      Office Space Available For Rent

      Office and medical suites available, ranging from 982-8,002 SF.
      1400 Peoples Plz, Newark, DE 19702
      View Details
    • Contact for pricing
      29,064 SF

      Class A Office Property Newark

      Class A office building in Newark, Delaware, near I-95.
      248 Chapman Rd, Newark, DE 19702
      View Details
    • Contact for pricing
      2,526 SF

      Office and Medical Suites Available

      Office and medical suites available for rent with strong tenant mix.
      1200 Peoples Plz, Newark, DE 19702
      View Details
    • Contact for pricing
      2,360 SF

      Office Space with Ample Parking

      Well-maintained office space with landscaping and 24/7 access.
      256 Chapman Rd, Newark, DE 19702
      View Details
    View Listing
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    Newark, DE 19702
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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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