Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land for Lease in Middletown Title is generated by Realmo AI

    650 Middletown Odessa Rd, Middletown, DE

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Land available for lease near Christiana Care Middletown Hospital.

    Type:LAND
    Lot size:
    1.51 Acres
    Added:
    Apr 18, 2025
    Days on Market:
    406
    Last Refresh:
    May 20 at 9:11 pm

    Property Features for 650 Middletown Odessa Rd

    General Information

    Standard status
    Active
    Lot size
    1.51 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 650 Middletown Odessa Rd Contact us

    We can help!

    Listing Contact
    Jim O'Hara, Jr

    Listing agent Jim O'Hara, Jr

    Listing office NAI Emory Hill

    Listing date Apr 18, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Emory Hill

    HighLights

    • Located directly across from a 500‑bed Christiana Care Middletown Hospital.
    • Situated at the intersection of Routes 1 and 299 in Middletown.
    • Anchored by Wawa and CVS.
    • Includes HealthSouth, an 85‑bed Rehabilitation Hospital, on site.
    • Features the Middletown Police Station on site.
    • Part of the Willow Grove Mill retail location.

    Overview

    Located at the intersection of Route 1 and Route 299 in Middletown, Willow Grove Mill offers land for lease. The site is directly across from the Christiana Care Middletown Hospital, which has 500 beds. Existing retailers on the site include Wawa and CVS, along with HealthSouth, an 85-bed Rehabilitation Hospital, and the Middletown Police Station.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    New Castle
    State
    Delaware
    Longitude
    -75.6846
    Latitude
    39.452

    Nearby Similar for Lease

    • $13 SF/Yr
      4,150 SF

      Flex/Office Space in Middletown, DE

      Flex and office space available in Middletown, Delaware.
      126 Patriot Dr, Middletown, DE 19709
      View Details
    • $14 SF/Yr
      13,440 SF

      Middletown Flex Building For Lease

      Flex building with units available for lease in Middletown, DE.
      410 Diamond State Boulevard, Middletown, DE, Middletown, DE 19709
      View Details
    • $30 SF/Yr
      3,300 SF

      Retail Space Near Food Lion

      Inline retail space available in busy commercial district.
      488 Middletown Warwick Rd, Middletown, DE
      View Details
    • Contact for pricing
      87,730 SF

      Middletown Industrial Suites Available

      Industrial suites available for lease in Middletown, Delaware.
      700 North Broad Street, Middletown, DE, 19709
      View Details
    • $14 SF/Yr
      2,275 SF

      Proposed Flex Building For Lease

      Flex building with customizable units available for lease.
      410 Diamond State Blvd, Middletown, DE
      View Details
    • $12 SF/Yr
      20,064 SF

      Middletown Flex Space For Lease

      11,388 SF flex space near Route 301 bypass.
      112 Patriot Dr, Middletown, DE 19709
      View Details
    • $14 SF/Yr
      24,892 SF

      Middletown Flex Space For Lease

      3,137 SF flex space near Route 1 and 301.
      108 Patriot Dr, Middletown, DE, Middletown, DE 19709
      View Details
    • Contact for pricing
      248,655 SF

      Grocery-Anchored Retail Space Available

      Retail and office spaces for lease in growing residential community.
      Boyds Corner & Jamison Corner Road, Middletown, DE 19709
      View Details
    • Contact for pricing
      1 SF

      Prime Pad Site For Lease

      1.04 acre pad site in Bunker Hill area, Middletown, DE.
      111 Sandhill Dr, Middletown, DE 19709
      View Details
    • $4,500/Mo
      30,000 SF

      Middletown Industrial Land for Lease

      2.62 acres of industrial land available for lease.
      605 Tower Ln, Middletown, DE 19709
      View Details
    • Contact for pricing
      1,271 SF

      Medical Suite Available For Rent

      Second floor medical suite with easy access and nearby amenities.
      124 Sleepy Hollow Dr, Middletown, DE
      View Details
    • $310/Mo

      MBI Desk Space For Rent

      Serviced office space with included amenities for lease.
      651 N BROAD St MBI DESK SPACE, Middletown, DE 19709
      View Details

    FAQs

    What type of property is this?
    Land - Land available for lease near Christiana Care Middletown Hospital.
    Where is this land located?
    The property is located at 650 Middletown Odessa Rd Middletown, DE.
    What are key features of this property?
    This property features: Located directly across from a 500‑bed Christiana Care Middletown Hospital.; Situated at the intersection of Routes 1 and 299 in Middletown.; Anchored by Wawa and CVS.
    (302) 322-9500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jim O'Hara, Jr
    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.
    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
    650 Middletown Odessa Rd, Middletown, DE
    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!