$23.50 SF/Yr 32,914 SF available

56 West Main St, Newark, DE 19702
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Office Plaza 273 is an office building located at 56 W Main St in Christiana, Delaware, situated on Route 273 adjacent to I-95. The property provides office space in multiple suite sizes, ranging from 426 to 10,551 square feet. The building features a four-story glass atrium, with a lobby and common areas that have been renovated, including new lobby finishes. Common-area updates include renovated restrooms and updated shared spaces. Electronic security access is provided for after-hours entry.…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?

$121k

Tax billed · 2023

Assessed value$2.90M

Assessed land$367k

Assessed improvement$2.53M

Effective rate4.18%

Value estimate

· Sep 2026

$5.75M

$5.17M – $6.32M

Submarket $/SF estimate$5.71M

NOI build-up

Gross scheduled income$743k

Vacancy & credit loss−$145k

Operating expenses−$149k

NOI · 1,907,693.62% cap applied$448k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?

$384/SF

Submarket average, outlier-cleaned · 24 recorded sales of this use type

Observed band · Q1–Q3$189 – $669

Cap rate analysis

How does the asset earn?

1,907,693.62%

$448k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?

Sec. 40.02.225. Commercial, Regional (CR) District. A. This district is intended to provide for community and regional commercial service...

General categoryCOMMERCIAL

JurisdictionNEW CASTLE

Location intelligence

Which uses thrive at this corner?

Best fit: Building Supply

Demand heat for this use is drawn on the map · LocInt grid

Demand index

Building Supply14.3

HVAC Service11.6

Bakery10.0

56 West Main St Newark, DE 19702

County assessor Recorded deeds · 1 transfer Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 15 properties nearby

Address Sale price Sold Size

254 Chapman, Newark, DE 19702-5413 $2,400,000 Jan 2026 13,160 SF

850 Salem Church, Newark, DE 19702 $13,000 Jul 2025 2,280 SF

16 Main, Christiana, DE 19702-1530 $430,000 Apr 2022 2,512 SF

1003 Chapel, Newark, DE 19702-1357 $625,000 Sep 2021 3,282 SF

111 Pencader, Newark, DE 19702-3322 $5,865,000 Jul 2021 24,663 SF

101 Lk, Newark, DE 19702-3318 $4,500,000 May 2021 10,880 SF

Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.

Comparable nearby

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500 Wakefield Dr

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Ask anything about this address in plain English.

“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”

56 West Main St Newark, DE 19702

Property summary