Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    587 Old Baltimore Pike Newark, DE 19702-1307

    • Commercial real estate
    • 79,001 SF
    • 132.23 lot acres
    OFF-MARKET
    Last Sale
    Sep 21, 2021
    Value Estimations
    $21,915,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0285561
    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.

    Current Use by Public Records

    • Astra Zeneca / Factory / Production Facility

    Property Details for 587 Old Baltimore Pike

    Year built
    1970
    Construction
    CONCRETE
    Lot size
    132.23 lot acres
    Property size
    79,001 SF
    Zone code
    I
    Property type
    Commercial real estate
    APN
    09-037.00-031
    APU
    903700031

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $21,343,000
      Market price range: $3.89M - $21.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7041
    Latitude
    39.6513
    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
    $969,491
    $3,019,400
    $20,164,400
    $23,183,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      41.78 Acres

      Dusk Run Rd

      COMMERCIAL (GENERAL) • 41.78 Acres
      Dusk Run Rd, Newark, DE 19702
      View Details
    • Value Estimation by Request
      0.07 Acres

      801 Eggerts Ln

      COMMERCIAL (GENERAL) • 0.07 Acres
      801 Eggerts Ln, Newark, DE 19702
      View Details
    • Value Estimation by Request
      1.00 Acre

      24 Brookhill Dr

      COMMERCIAL (GENERAL) • 1.00 Acre
      24 Brookhill Dr, Newark, DE 19702-1301
      View Details
    • Value Estimation
      $1,140,000
      4,132 SF

      2444 Pulaski Hwy

      COMMERCIAL (GENERAL) • 4,132 SF
      2444 Pulaski Hwy, Newark, DE 19702-3906
      View Details
    • Value Estimation by Request
      4.98 Acres

      Christiana Mall

      COMMERCIAL (GENERAL) • 4.98 Acres
      Christiana Mall, Newark, DE 19702
      View Details
    • Value Estimation by Request
      2,314 SF

      330 Christiana Medical Ctr

      COMMERCIAL (GENERAL) • 2,314 SF
      330 Christiana Medical Ctr, Newark, DE 19702-1653
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Corporate Campus Office Building

      Office building in corporate campus with ample parking.
      200 Biddle Ave, Newark, DE 19702
      View Details
    • Contact for pricing

      Fully Leased Retail Center

      Retail center with diverse mix of tenants and convenient access.
      Fashion Ctr Blvd, Newark, DE 19702
      View Details
    • Contact for pricing
      29,750 SF

      Newark Office/Industrial Building For Sale

      29,750 SF office/industrial building in Pencader Corporate Center.
      211 Lake Dr, Newark, DE 19702
      View Details
    • $890,000
      6,000 SF

      Newark Office Building For Sale

      Commercial building with office space and long-term lease.
      1003 S Chapel St, Newark, DE 19702
      View Details
    • $130,000
      Pending

      Specialty Property For Sale

      Specialty property available for sale in Newark, Delaware.
      23 Barberry Ct, Newark, DE 19702
      View Details
    • $484,900

      Specialty Property For Sale

      Specialty property available for purchase.
      116 Torrey Dr, Newark, DE 19702
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,120 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
      300 SF

      Industrial Space Near I-95

      Accessible industrial space ideal for distribution and manufacturing headquarters.
      211 Executive Dr, Newark, DE 19702
      View Details
    • Contact for pricing
      194,171 SF

      Christiana Town Center Retail Space

      Prime Newark, DE Retail Outparcels
      0 Rte 273, Newark, DE 19702
      View Details
    • $1,750 /Mo
      1,200 SF

      Retail Space with Ample Parking

      Versatile 1,200 SF retail space with easy access.
      100 Troubador Way, Newark, DE 19702
      View Details
    • Contact for pricing
      43,560 SF

      Newark Retail Pad Site Investment

      Prime 1-Acre Pad Site for Lease
      2800 Pulaski Hwy, Newark, DE 19702
      View Details
    • Contact for pricing
      5,300 SF

      Newark Office Space For Rent

      185,000 SF office park near I-95/Route 273 interchange.
      258 Chapman Rd, Newark, DE 19702
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    587 Old Baltimore Pike
    Newark, DE 19702-1307
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!