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    753 Walker Rd Dover, DE 19904

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    753 Walker Rd Dover, DE 19904

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    • Commercial real estate
    • 7,000 SF
    Off-Market
    Property ID
    US17-0219289
    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

    • Speller Insurance Group / Insurance Agency
    • Heritage Plan-Senior Life / Insurance Agency

    Property Details for 753 Walker Rd

    Property size
    7,000 SF
    Property type
    Commercial real estate

    Description

    This 7,000 square foot office building, located in Dover's Walker Road business corridor, offers a 1,430 square foot suite for lease. The building features excellent daily cross-traffic visibility due to its roadside location and ample parking with 30+ spaces. The suite is part of a well-maintained building currently housing four other businesses, creating a collaborative and established business environment. The property boasts a convenient and easily accessible location within the Central Delaware submarket. This traditional office space is ideal for a single tenant and offers a great layout. The building does not have elevators. A second suite of 1,340 square feet is also available. This presents a unique opportunity to secure a well-situated office space in a thriving business area with high visibility and convenient parking. The property's address is 753 Walker Road, Dover, Delaware, 19904. The available space is perfect for businesses seeking a comfortable and productive work environment in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dover
    County
    Kent
    State
    Delaware
    Longitude
    -75.540593939839
    Latitude
    39.170703648743

    Comparable in this City

    • $19 SF/Yr
      1,710 SF

      Dover Executive Office Suite

      Prime Dover Office, 1710 sq ft
      905 Governors Ave, Dover, DE 19904
      View Details
    • $5,046 /Mo
      65,340 SF

      Professional Office Space Available

      Professional office space for lease in Dover, Delaware.
      230 Beiser Blvd, Dover, DE 19904
      View Details
    • Contact for pricing
      22,855 SF

      Dover Medical Office Building

      Class A space, multiple suites available
      200 Banning St, Dover, DE 19904
      View Details
    • $2,200 /Mo

      Professional Office Space Available

      Professional office space for rent, currently a chiropractic office.
      230 Beiser Blvd, Dover, DE 19904
      View Details
    • $2,800 /Mo
      9,583 SF

      Office Space For Rent

      Office space available for lease in Dover, DE.
      642 S Queen St, Dover, DE 19904
      View Details

    Similar Nearby for Sale

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      Dover Office Condominium For Sale

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      383 W North St, Dover, DE 19904
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    • $199,000

      Two-Unit Office Condo For Sale

      Two-unit office condo in great condition available for purchase.
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      Condo Office Space For Sale

      1,800 sq ft condo office space available for sale.
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    • $159,000

      Walker Square Office Suite Available

      Office suite for sale or lease in Walker Square.
      846 Walker Rd, Dover, DE 19904
      View Details
    • $315,000
      1,926 SF

      Dover Office Building - High Visibility

      Prime Dover location, 1926 sq ft office space.
      1447 Governors Ave, Dover, DE 19904
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      1,710 SF

      Dover Executive Office Suite

      Prime Dover Office, 1710 sq ft
      905 Governors Ave, Dover, DE 19904
      View Details
    • $5,046 /Mo
      65,340 SF

      Professional Office Space Available

      Professional office space for lease in Dover, Delaware.
      230 Beiser Blvd, Dover, DE 19904
      View Details
    • $3,500 /Mo

      Dover Former Bank Branch Space

      High-visibility commercial space suitable for various business types.
      1001 Walker Rd, Dover, DE 19904
      View Details
    • $5,046 /Mo

      Professional Office Space Available

      Professional office space with multiple exam rooms and offices.
      230 Beiser Blvd, Dover, DE 19904
      View Details
    • $1,300 /Mo

      Dover Office Space For Lease

      Commercial space with private offices and convenient parking in Dover.
      383 W North St, Dover, DE 19904
      View Details
    • Contact for pricing
      22,855 SF

      Dover Medical Office Building

      Class A space, multiple suites available
      200 Banning St, Dover, DE 19904
      View Details
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    753 Walker Rd
    Dover, DE 19904
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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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