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Property profile & analytics
OFF-MARKET
Office Spaces
1500 Newport Pike Wilmington, DE 19804-2346
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0457780
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1973
Construction
CONCRETE
Total area
2,400 SF
Lot
0.36 ac (15,682 SF)
Zoning code
CN
APN
07-047.20-073
UPID
US17-0457780
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
-
Deval Patel-Lennon, Esq., P.A. Law Firm
-
Lux Prime Department Store
-
KJTT, LLC Business Service Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Fe Properties LLC · 1 yrs held
Fe Properties LLC
since 2024
6 recorded transactions
Zoning & alternative use
CN · Wilmington, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$6,828
Tax year 2023
Assessed value
$206,300
Assessed 2023
Previous assessed
$206,300
+0.0% YoY
Effective rate
3.31%
On assessed value
Assessed land
$39,200
Assessed improvement
$167,100
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1973
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
2
Total area
2,400 SF
Lot
0.36 ac (15,682 SF)
Zoning code
CN
APN
07-047.20-073
UPID
US17-0457780
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CN · Wilmington, DE
Zoning CN · permitted uses
CN · 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.
Building & site characteristics
From public records
Year built
1973
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Lot
0.36 ac
Current owner
From public records · entity-resolved
Fe Properties LLC
Entity
Mailing address
2 E ROLLING DR, NEWARK, DE 19713-2020
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Oct 2, 2024
—
Fe Properties LLC
Kjtt LLC
Deed
$663,000 · Grow America Fund INC
Jan 27, 2015
$275,000
Kjtt LLC
Walter M Dietz
Deed
$220,000 · Midcoast Community Bank
May 15, 2008
$590,000
Walter M Dietz
H Douglas Thornley
Deed
$472,000 · Penn Liberty Bank
—
—
Walter M Dietz
—
Deed Of Trust
related
$100,000 · Penn Liberty Bank
—
—
Kjtt LLC
—
Deed Of Trust
related
$25,000 · Midcoast Cmnty Bk
—
—
Walter M Dietz
—
Deed Of Trust
related
$250,000 · Penn Liberty 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.
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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