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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Broad St Middletown, DE 19709-1045

    • Office Properties & Spaces
    • 1,200 SF
    • 0.33 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0039250
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Jennifer M. Ewald, LCSW / Social Worker
    • Balanced Mind Counseling Center / Social Worker
    • Edward Jones - Financial Advisor: Remo A Orsini Jr, CFP®|CRPC™ / Investment Service / Finance Broker
    • Balanced Mind Yoga / Yoga Instructor
    • Postnatal Support Advocates / Social Worker

    Property Details for 115 Broad St

    Year built
    1906
    Construction
    CONCRETE
    Lot size
    0.33 lot acres
    Property size
    1,200 SF
    Zone code
    23C-2
    Property type
    Office Properties & Spaces
    APN
    23-006.00-199
    APU
    2300600199

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7167
    Latitude
    39.451
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,565
    $11,400
    $71,900
    $83,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,960 SF

      701 Broad St

      OFFICE (GENERAL) • 2,960 SF
      701 Broad St, Middletown, DE 19709-1166
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    • Value Estimation
      $2,945,000
      13,914 SF

      4200 Smt Brg Rd

      OFFICE (GENERAL) • 13,914 SF
      4200 Smt Brg Rd, Middletown, DE 19709-9340
      View Details
    • Value Estimation
      $2,025,000
      16,000 SF

      680 Broad St

      OFFICE (GENERAL) • 16,000 SF
      680 Broad St, Middletown, DE 19709-1030
      View Details
    • Value Estimation
      $790,000
      5,940 SF

      292 Carter Dr

      OFFICE (GENERAL) • 5,940 SF
      292 Carter Dr, Middletown, DE 19709-5846
      View Details
    • Value Estimation
      $625,000
      4,765 SF

      252 Carter Dr

      OFFICE (GENERAL) • 4,765 SF
      252 Carter Dr, Middletown, DE 19709-5855
      View Details
    • Value Estimation
      $1,475,000
      11,344 SF

      111 Patriot Dr

      OFFICE (GENERAL) • 11,344 SF
      111 Patriot Dr, Middletown, DE 19709-8771
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.64 Acres

      Middletown Office Space for Lease

      Modern Office Suites, Ample Amenities
      4353 Summit Bridge Rd, Middletown, DE 19709
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      3,160 SF

      Middletown Medical Office Suite

      Medical office suite in well-maintained complex with ample parking.
      118 Sandhill Dr, Middletown, DE 19709
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    • $2,500,000
      13.90 Acres

      Middletown Commercial Land - 13.9 Acres

      Prime Delaware location, ideal for retail or commercial development.
      2105 Dupont Pkwy, Middletown, DE 19709
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    • $650,000
      15.12 Acres

      Middletown Land Near Canal

      15+ acre parcel near major routes, ideal for development.
      Port Penn Rd, Middletown, DE 19709
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    • Contact for pricing
      434 SF

      Entitled Graded Site in Middletown

      Fully entitled graded site with infrastructure in place in Middletown.
      345 Auto Park Dr, Middletown, DE 19709
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    • $649,000

      Middletown Specialty Property for Sale

      Specialty property available in Middletown, Delaware.
      409 Crownleaf Dr, Middletown, DE 19709
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    Similar Nearby for Lease

    • $22 SF/Yr
      15,066 SF

      Modern Office Suite For Rent

      Professional office suite available in Middletown, Delaware.
      222 Middletown, Middletown, DE 19709
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    • $21 SF/Yr
      20,853 SF

      Bunker Hill Center Office Space

      First floor office unit in Middletown, available Q2 2024.
      102 Sleepy Hollow Dr, Middletown, DE 19709
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    • $750 /Mo

      Middletown Office/Retail Space Available

      Office and retail space for rent in Middletown, Delaware.
      651 N Broad St Suite 106, Middletown, DE 19709
      View Details
    • Contact for pricing
      1,271 SF

      Medical Suite Available For Rent

      Second floor medical suite with easy access and nearby amenities.
      124 Sleepy Hollow Dr, Middletown, DE 19709
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    • Contact for pricing
      1,784 SF

      Community Shopping Center Retail Space

      Retail and office space available in Middletown, Delaware shopping center.
      701-743 N Broad St, Middletown, DE 19709
      View Details
    • Contact for pricing
      17,295 SF

      Middletown Office Suites Available

      Office suites available from 1,200 SF to over 25,000 SF.
      651 N Broad St, Middletown, DE 19709
      View Details
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    115 Broad St
    Middletown, DE 19709-1045
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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