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Property profile & analytics
OFF-MARKET
Estimated value
$3,245,000
Office Spaces
1 Custom House Sq Wilmington, DE 19801
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US17-0199939
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1976
Construction
BRICK
Total area
15,616 SF
Lot
0.45 ac (19,602 SF)
Zoning code
26C-4
APN
26-035.40-149-T0001
UPID
US17-0199939
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.45M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.25M
Owner & transaction history
State Of Delaware · 2 yrs held
State Of Delaware
since 2024
6 recorded transactions
Zoning & alternative use
26C-4 · Wilmington, DE
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wilmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wilmington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,650,000
6.5%
$2,450,000
7%
$2,275,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,230,000
Current use
RETAIL STORES
$3,220,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$3.25M
Range $2.92M – $3.57M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$208 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$61,535
Tax year 2023
Assessed value
$2,150,000
Assessed 2023
Previous assessed
$2,150,000
+0.0% YoY
Effective rate
2.86%
On assessed value
Assessed land
$500,000
Assessed improvement
$1,650,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1976
Construction
BRICK
Heating
YES
Cooling
YES
Stories
6
Total area
15,616 SF
Lot
0.45 ac (19,602 SF)
Zoning code
26C-4
APN
26-035.40-149-T0001
UPID
US17-0199939
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
26C-4 · Wilmington, DEZoning 26C-4 · permitted uses
26C-4 · Wilmington, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.2M
RETAIL STORES
Est. value
$3.2M
COMMERCIAL (GENERAL) Current
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1976
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
6
Lot
0.45 ac
Current owner
From public records · entity-resolved
State Of Delaware
Individual
Mailing address
704 N KING ST, WILMINGTON, DE 19801-3583
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2024
—
State Of Delaware
Alpha It On Shore Msp LLC
Deed
—
Jan 11, 2021
—
Alpha It On Shore Msp LLC
—
Deed
related
$2,230,000 · Bryn Mawr Trust Co
Sep 1, 2015
—
Alpha It On-shore Msp LLC
Durham Square LLC
Grant Deed
related
$1,665,000 · Td Bk NA
Aug 15, 2013
—
Durham Square LLC
One Customs House Assocs LLC
Grant Deed
—
Jun 20, 2005
$4,925,000
One Customs House Associates LLC
Cc Maryland Equities Corp
Deed
$6,410,000 · Wachovia Bank NA
—
—
Valentine Capital LLC
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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