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    Middletown DE Summit Bridge Rd Middletown, DE 19709

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    Middletown DE Summit Bridge Rd Middletown, DE 19709

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    • Land
    • 5.44 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for Middletown DE Summit Bridge Rd

    Lot size
    5.44 lot acres
    Property type
    Land

    Description

    This exceptional 5.44-acre development site presents a compelling investment opportunity in Middletown, Delaware. Located at 0 Summit Bridge Road, this property boasts excellent visibility and accessibility due to its prominent frontage on Summit Bridge Road. The C3 Commercial zoning designation allows for a wide range of development possibilities, streamlining the approval process. Its strategic location places it in close proximity to several established national retailers, ensuring high traffic and visibility for any future development. The substantial lot size offers ample space for a variety of commercial projects, from retail centers to office buildings or mixed-use developments. The address is 0 Summit Bridge Road, Middletown, DE 19709, offering easy access to major transportation routes and amenities. This property is priced at $1,600,000 and represents a rare chance to acquire a significant parcel of land in a thriving Delaware community with a simplified development pathway. The location's proximity to established businesses promises a strong return on investment for the right developer. This is an ideal opportunity for those seeking to capitalize on the growing commercial landscape of Middletown. The 5.44 acres provide significant flexibility for a variety of development plans, making this a truly unique and attractive investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7381
    Latitude
    39.5413

    Comparable in this City

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      43.67 Acres

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      3.11 Acres

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      Land • 3.11 Acres
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      3.11 Acres

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      Medical Office Space • 3.11 Acres
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      13.90 Acres

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      Land • 13.90 Acres
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      5165 Summit Bridge Rd

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      5165 Summit Bridge Rd, Middletown, DE 19709
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      1.00 Acre

      317 Auto Park Dr

      VACANT COMMERCIAL LAND • 1.00 Acre
      317 Auto Park Dr, Middletown, DE 19709-9983
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    Similar Nearby for Sale

    • $2,500,000

      Land with Development Potential

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      Land For Sale

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      Approved Medical Building Site

      Approved medical building site for sale or lease.
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      Industrial Land Near Middletown, DE

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      Development Land in Middletown, DE

      3.11 +/- acres of development land for lease.
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    Similar Nearby for Lease

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      Land for Lease in Middletown

      Land available for lease near Christiana Care Middletown Hospital.
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      Land for Lease in Middletown

      Land available for lease near Christiana Care Middletown Hospital.
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      Middletown Industrial Land For Lease

      43.67 acres of industrial land approved for rail.
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      Commercial Land Near Christiana Care

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      Commercial land available for ground lease.
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      Commercial Land Near Christiana Care

      Located near hospital and major retailers in Middletown, Delaware.
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    Middletown, DE 19709
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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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