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Property profile & analytics
OFF-MARKET
Estimated value
$2,545,000
Retail space
128 Patriot Dr Middletown, DE 19709-8770
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US17-0111422
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
STONE
Total area
27,360 SF
Lot
2.42 ac (105,415 SF)
Zoning code
23M-I
APN
23-041.00-015
UPID
US17-0111422
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
-
M.O.T. All-Stars Cheer, Dance & Tumble Gym & Fitness Center
-
Legion Transformation Center Gym & Fitness Center
-
Christ Transformation Temple Church
-
Nate & John Wholesale Mattress Home Decor Store Furniture & Home Goods
-
Benchmark Transmission & Auto Care Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.55M
Owner & transaction history
Kenanna Holdings LLC · 22 yrs held
Kenanna Holdings LLC
since 2004
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$93 / 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
$24,245
Tax year 2023
Assessed value
$783,400
Assessed 2023
Previous assessed
$783,400
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$105,400
Assessed improvement
$678,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2006
Construction
STONE
Heating
YES
Cooling
YES
Stories
1
Total area
27,360 SF
Lot
2.42 ac (105,415 SF)
Zoning code
23M-I
APN
23-041.00-015
UPID
US17-0111422
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.
Building & site characteristics
From public records
Year built
2006
Construction
STONE
Heating
YES
Cooling
Yes
Stories
1
Lot
2.42 ac
Current owner
From public records · entity-resolved
Kenanna Holdings LLC
Entity
Mailing address
533 ROGERS RD, NEW CASTLE, DE 19720-1323
Ownership since
2004
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
Mar 4, 2025
—
Kenanna Holdings LLC
—
Deed
related
$2,000,000 · Wilmington Savings Fund Society Fsb
Mar 7, 2019
—
Kenann Holdings LLC
—
Deed
related
$800,000 · Wilmington Savings Fund Society Fsb
May 19, 2016
—
Kenanna Holdings LLC
—
Deed
related
$125,000 · Fulton Bank NA
Jul 16, 2004
$165,513
Kenanna Holdings LLC
Vc II Ventures LLC
Grant Deed
related
$257,000 · Christiana Bank & Trust Co
—
—
Kenanna Holdings LLC
—
Deed Of Trust
related
$1,300,000 · Fulton Bk
—
—
Kenanna Holdings LLC
—
Deed Of Trust
related
$1,800,000 · Fulton 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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