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Property profile & analytics
OFF-MARKET
Estimated value
$2,645,000
Warehouses
110 Patriot Dr Middletown, DE 19709-8901
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0469357
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2015
Construction
CONCRETE
Total area
28,982 SF
Lot
2.11 ac (91,912 SF)
Zoning code
23M-I
APN
23-041.00-006
UPID
US17-0469357
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
-
Next Generation Sports Gym & Fitness Center Sports Field & Court
-
Illumination Dance Training Center
-
Tile Market of Delaware Hardware & Home Improvement Carpet & Flooring Store
-
The AthleteU Gym & Fitness Center Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.48M
Comparable Approach
Comparable
$2.11M
Blend (final)
Blend
$2.65M
Owner & transaction history
Patriot Drive II LLC · 13 yrs held
Patriot Drive II LLC
since 2012
6 recorded transactions
Zoning & alternative use
23M-I · Middletown, 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 Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown 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%
$3,760,000
6.5%
$3,475,000
7%
$3,225,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,980,000
Current use
Blend value · Realmo final
$2.65M
Range $2.38M – $2.91M · ±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
$91 / 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
$32,956
Tax year 2024
Assessed value
$894,700
Assessed 2024
Previous assessed
$894,700
+0.0% YoY
Effective rate
3.68%
On assessed value
Assessed land
$91,900
Assessed improvement
$802,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2015
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
28,982 SF
Lot
2.11 ac (91,912 SF)
Zoning code
23M-I
APN
23-041.00-006
UPID
US17-0469357
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23M-I · Middletown, DE
Zoning 23M-I · permitted uses
23M-I · Middletown, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.0M
WAREHOUSE, STORAGE Current
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
2015
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
2.11 ac
Current owner
From public records · entity-resolved
Patriot Drive II LLC
Entity
Mailing address
212 SAMMONS POND DR, MIDDLETOWN, DE 19709-8897
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Jul 7, 2020
—
Patriot Drive II LLC
—
Deed
related
$1,925,000 · Cnb
Dec 31, 2012
$410,000
Patriot Drive II LLC
Levels Bp Gawk LLC
Deed
$266,500 · M & T Bank
Oct 9, 2012
$90,000
Levels Bp Gawk LLC
Gawk LLC
Deed
$42,750 · M & T Bank
Jul 21, 2008
$325,000
Gawk LLC
Chartwell Homes INC
Deed
$240,000 · Wilmington Trust Co
Oct 18, 2005
$10
Chartwell Homes INC
Vcii Ventures LLC
Grant Deed
—
—
—
Patriot Drive II LLC
—
Deed Of Trust
related
$300,000 · M&t Bk
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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