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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Grocery and convenience stores
150 Salem Church Rd Newark, DE 19713
Entity Owned
18-yr Hold
Free & Clear
Property ID
US17-0272450
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1988
Construction
CONCRETE
Total area
3,173 SF
Lot
3.87 ac (168,577 SF)
Zoning code
CR
APN
09-028.00-057
UPID
US17-0272450
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
-
Ming Kitchen Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$410k
CAP Approach
CAP
$625k
Comparable Approach
Comparable
$545k
Blend (final)
Blend
$530k
Owner & transaction history
Salem Village Square LLC · 18 yrs held
Salem Village Square LLC
since 2008
2 recorded transactions
Zoning & alternative use
CR · Newark, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$650,000
+528.9%
Medical building
$550,000
+430.5%
Retail stores
$355,000
+243.3%
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 Newark submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newark 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
$410,000
CAP Approach
CAP Return
Estimation
6%
$680,000
6.5%
$625,000
7%
$580,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$650,000
Change: +529% · Conversion: Easy
MEDICAL BUILDING
$550,000
Change: +430% · Conversion: Difficult
RETAIL STORES
$355,000
Change: +243% · Conversion: Easy
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$167 / 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
$1,313,300
Assessed 2023
Previous assessed
$1,313,300
+0.0% YoY
Assessed land
$232,200
Assessed improvement
$1,081,100
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
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
3,173 SF
Lot
3.87 ac (168,577 SF)
Zoning code
CR
APN
09-028.00-057
UPID
US17-0272450
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CR · Newark, DE
Zoning CR · permitted uses
CR · Newark, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newark. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$650,000
MEDICAL BUILDING
Est. value
$550,000
RETAIL STORES
Est. value
$355,000
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
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
1988
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
3.87 ac
Current owner
From public records · entity-resolved
Salem Village Square LLC
Entity
Free & Clear · 18 yrs held
Mailing address
1309 VEALE RD STE #20, WILMINGTON, DE 19810-4609
Ownership since
2008
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
Dec 14, 2012
—
Salem Village Square LLC
—
Deed Of Trust
related
$11,000,000 · M & T Bank
Mar 3, 2008
—
Salem Village Square LLC
Anthony C Vari
Deed
—
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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