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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Grocery and convenience stores
1022 Delaware Ave Wilmington, DE 19806-4704
Entity Owned
18-yr Hold
Free & Clear
Property ID
US17-0231245
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Year built
2008
Construction
CONCRETE
Total area
3,258 SF
Lot
0.47 ac (20,473 SF)
Zoning code
26C-6
APN
26-021.30-126
UPID
US17-0231245
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
Current use
Occupant on record · Public records
-
Dash In Grocery & Convenience Store
-
LibertyX Bitcoin ATM Atm
-
Cardtronics Atm
-
Shell Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$345k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$770k
Blend (final)
Blend
$560k
Owner & transaction history
Smo INC · 18 yrs held
Smo INC
since 2007
2 recorded transactions
Zoning & alternative use
26C-6 · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$770,000
+36.2%
Retail stores
$710,000
+25.5%
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
$345,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE STATION (FULL SERVICE)
$565,000
Current use
COMMERCIAL (GENERAL)
$770,000
Change: +36% · Conversion: Difficult
RETAIL STORES
$710,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$545,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$172 / 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
Assessed value
$396,500
Assessed 2023
Previous assessed
$396,500
+0.0% YoY
Assessed land
$245,700
Assessed improvement
$150,800
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
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Status
Off-Market
Year built
2008
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
3,258 SF
Lot
0.47 ac (20,473 SF)
Zoning code
26C-6
APN
26-021.30-126
UPID
US17-0231245
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
26C-6 · Wilmington, DE
Zoning 26C-6 · permitted uses
26C-6 · Wilmington, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wilmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE STATION (FULL SERVICE) Current
Est. value
$565,000
COMMERCIAL (GENERAL)
Est. value
$770,000
RETAIL STORES
Est. value
$710,000
MEDICAL BUILDING
Est. value
$545,000
SERVICE STATION (FULL SERVICE) Current
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
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
2008
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Smo INC
Entity
Free & Clear · 18 yrs held
Mailing address
PO BOX 2810, LA PLATA, MD 20646-2800
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2007
—
Smo INC
Smo Realty LLC
Quit Claim Deed
—
May 3, 2006
—
Smo Realty LLC
—
Deed Of Trust
related
$40,750,000 · Mercantile Safe Deposit & Tr
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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