Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    89 Albe Dr Newark, DE 19702-1321
    Back to Search
    Property profile & analytics

    89 Albe Dr Newark, DE 19702-1321

    View on Map
    • Warehouses
    • 8,600 SF
    • 1.15 lot acres
    Off-Market
    Property ID
    US17-0260320
    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
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Academy of dog training / Animal Training
    • Custom Improvers Inc / Construction Company / General Contractor
    • ERIC ALTEMUS MEMORIAL CATFISH TOURNAMENT / Association Or Organization

    Property Details for 89 Albe Dr

    Year built
    1990
    Construction
    CONCRETE
    Lot size
    1.15 lot acres
    Property size
    8,600 SF
    Zone code
    I
    Property type
    Warehouses
    APN
    09-037.00-102
    APU
    903700102

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,115,000
      6.5%
      $1,030,000
      7%
      $955,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,180,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7127
    Latitude
    39.6488
    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
    2024
    $11,569
    $46,000
    $225,700
    $271,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $11,685,000
      182,424 SF

      211 Executive Dr

      WAREHOUSE, STORAGE • 182,424 SF
      211 Executive Dr, Newark, DE 19702-3357
      View Details
    • Value Estimation
      $8,495,000
      109,106 SF

      701 Pencader Dr

      WAREHOUSE, STORAGE • 109,106 SF
      701 Pencader Dr, Newark, DE 19702-3359
      View Details
    • Value Estimation
      $1,305,000
      10,941 SF

      100 Barrett Ln

      WAREHOUSE, STORAGE • 10,941 SF
      100 Barrett Ln, Newark, DE 19702-2927
      View Details
    • Value Estimation by Request
      1,920 SF

      40 Brookhill Dr

      WAREHOUSE, STORAGE • 1,920 SF
      40 Brookhill Dr, Newark, DE 19702-1301
      View Details
    • Value Estimation
      $545,000
      4,000 SF

      10 Adel Dr

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      10 Adel Dr, Newark, DE 19702-1331
      View Details
    • Value Estimation
      $1,525,000
      23,000 SF

      107 Albe Dr

      WAREHOUSE, STORAGE • 23,000 SF
      107 Albe Dr, Newark, DE 19702-1300
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Newark Office/Industrial Building For Sale

      29,750 SF office/industrial building in Pencader Corporate Center.
      211 Lake Dr, Newark, DE 19702
      View Details
    • $1,200,000
      14.73 Acres

      Development Land on Old Baltimore

      14.73-acre parcel suitable for residential development or investment.
      1630 Old Baltimore Pike, Newark, DE 19702
      View Details
    • Contact for pricing

      Corporate Campus Office Building

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

      Peoples Plaza Retail Opportunity

      Retail property with strong tenant history and convenient Park & Ride.
      100-950 Peoples Plz, Newark, DE 19702
      View Details
    • Contact for pricing

      Retail Opportunity in Newark

      Retail property available for sale in Christiana Town Center.
      Rte 273, Newark, DE 19702
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      278,876 SF

      Warehouse Space Available For Lease

      278,876 SF warehouse space available in Newark, Delaware.
      700 Dusk Run Rd, Newark, DE 19702
      View Details
    • Contact for pricing
      6,900 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

      Retail Space Near I-95

      Retail space available near I-95 and Route 273.
      1 University Dr, Newark, DE 19702
      View Details
    • Contact for pricing
      3,235 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
    • $20 SF/Yr
      6,615 SF

      Retail Space in Four Seasons

      Retail spaces available in high-visibility neighborhood shopping center.
      500-660 Plaza Dr, Newark, DE 19702
      View Details
    • $20 SF/Yr

      High-Visibility Retail Center Space

      Retail spaces in high-traffic Newark shopping center for lease.
      500-700 Plaza Dr, 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.
    89 Albe Dr
    Newark, DE 19702-1321
    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

    Thank You for Inquiry
    89 Albe Dr, Newark, DE, 19702
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!