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Property profile & analytics
OFF-MARKET
Estimated value
$1,145,000
Manufacturing properties
100 Ships Lndg Way, New Castle, DE 19720
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0151686
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
1967
Construction
ADOBE
Total area
38,413 SF
Lot
2.32 ac (101,059 SF)
Zoning code
21I
APN
21-007.00-252
UPID
US17-0151686
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
$840k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.15M
Owner & transaction history
Tsbp 2 LLC · 4 yrs held
Tsbp 2 LLC
since 2022
5 recorded transactions
Zoning & alternative use
21I · New Castle, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 New Castle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Castle 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
$840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,680,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,350,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$1.15M
Range $1.03M – $1.26M · ±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
$30 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$24,417
Tax year 2024
Assessed value
$850,700
Assessed 2024
Previous assessed
$850,700
+0.0% YoY
Effective rate
2.87%
On assessed value
Assessed land
$81,200
Assessed improvement
$769,500
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
Manufacturing properties
Use group
HEAVY MANUFACTURING
Status
Off-Market
Year built
1967
Construction
ADOBE
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
38,413 SF
Lot
2.32 ac (101,059 SF)
Zoning code
21I
APN
21-007.00-252
UPID
US17-0151686
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
21I · New Castle, DE
Zoning 21I · permitted uses
21I · New Castle, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Castle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
1967
Construction
ADOBE
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
2.32 ac
Current owner
From public records · entity-resolved
Tsbp 2 LLC
Entity
Mailing address
405 MARSH LN STE #1, NEWPORT, DE 19804-2445
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2022
—
Tsbp 2 LLC
Twin Spans Business Park LLC
Deed
$138,000,000 · Citi Real Estae Funding INC
Feb 29, 2000
$10
Newport Crossing LLC Co
High Strenght Properties INC
Grant Deed
related
—
—
—
Twin Spans Business Park LLC
—
Deed Of Trust
related
$67,285,000 · Miscellaneous Ins Co
—
—
Twin Spans Business Park LLC
—
Deed Of Trust
related
$12,319,000 · Miscellaneous Ins Co
—
—
Twin Spans Business Park LLC
—
Deed Of Trust
related
$54,966,000 · Miscellaneous Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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