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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Motels
1051 Market St Wilmington, DE 19801-5227
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US17-0176612
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1955
Construction
CONCRETE
Total area
8,694 SF
Lot
3.83 ac (166,835 SF)
Zoning code
CR
APN
10-001.00-074
UPID
US17-0176612
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
-
Fairview Inn motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
$745k
Comparable Approach
Comparable
$401k
Blend (final)
Blend
$560k
Owner & transaction history
Department Of Transportation · 4 yrs held
Department Of Transportation
since 2021
3 recorded transactions
Zoning & alternative use
CR · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$750,000
+28.8%
Warehouse, storage
$630,000
+8.4%
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
$530,000
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$745,000
7%
$690,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$580,000
Current use
AUTO REPAIR, GARAGE
$750,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$630,000
Change: +8% · 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
$64 / 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
$25,427
Tax year 2023
Assessed value
$830,000
Assessed 2023
Previous assessed
$833,800
-0.5% YoY
Effective rate
3.06%
On assessed value
Assessed land
$249,000
Assessed improvement
$581,000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1955
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
3
Stories
2
Total area
8,694 SF
Lot
3.83 ac (166,835 SF)
Zoning code
CR
APN
10-001.00-074
UPID
US17-0176612
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CR · Wilmington, DE
Zoning CR · permitted uses
CR · 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
HOTEL/MOTEL Current
Est. value
$580,000
AUTO REPAIR, GARAGE
Est. value
$750,000
WAREHOUSE, STORAGE
Est. value
$630,000
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1955
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Lot
3.83 ac
Current owner
From public records · entity-resolved
Department Of Transportation
Entity
Mailing address
1051 S MARKET ST, WILMINGTON, DE 19801-5227
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2021
—
Department Of Transportation
Nab Motel INC
Deed
—
—
—
Nab Motel INC
—
Deed Of Trust
related
$3,000,000 · State Bk/tx
—
—
Nab Motel INC
—
Deed Of Trust
related
$2,000,000 · Sun National Bank
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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