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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Turn key restaurants
17 Wood St, Middletown, DE 19709-1048
Entity Owned
14-yr Hold
Free & Clear
Property ID
US17-0185470
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2014
Construction
CONCRETE
Total area
5,200 SF
Lot
1.4 ac (60,984 SF)
Zoning code
23C-2
APN
23-005.00-038
UPID
US17-0185470
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
-
The Dancing Lights Ballet School Theater & Performing Art Venue Vocational School
-
Pop In Artisan Pops Grocery & Convenience Store Specialty Food Shop
-
1804 Barbershop, LLC Barber Shop
-
Northeast Christian Church Church
-
Mintz Beauty Bar LLC (Bike/Boat/Book/etc) Store Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$430k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$745k
Blend (final)
Blend
$585k
Owner & transaction history
Middletown Devco LLC · 14 yrs held
Middletown Devco LLC
since 2011
2 recorded transactions
Zoning & alternative use
23C-2 · Middletown, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$810,000
+44.9%
Commercial (general)
$635,000
+14.0%
Auto repair, garage
$630,000
+12.6%
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
$430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$560,000
Current use
MEDICAL BUILDING
$810,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$635,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$630,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$465,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$113 / 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
$23,094
Tax year 2023
Assessed value
$746,200
Assessed 2023
Previous assessed
$746,200
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$61,000
Assessed improvement
$685,200
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2014
Construction
CONCRETE
Heating
NONE
Buildings
4
Stories
1
Total area
5,200 SF
Lot
1.4 ac (60,984 SF)
Zoning code
23C-2
APN
23-005.00-038
UPID
US17-0185470
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23C-2 · Middletown, DE
Zoning 23C-2 · permitted uses
23C-2 · 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
RESTAURANT Current
Est. value
$560,000
MEDICAL BUILDING
Est. value
$810,000
COMMERCIAL (GENERAL)
Est. value
$635,000
AUTO REPAIR, GARAGE
Est. value
$630,000
RETAIL STORES
Est. value
$465,000
RESTAURANT Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2014
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
4
Lot
1.4 ac
Current owner
From public records · entity-resolved
Middletown Devco LLC
Entity
Free & Clear · 14 yrs held
Mailing address
703 INDUSTRIAL DR, MIDDLETOWN, DE 19709-1085
Ownership since
2011
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
Aug 30, 2011
$795,000
Middletown Devco LLC
Kejo LLC
Grant Deed
—
Jan 24, 2006
$10
Kejo LLC
Jrs Delaware LLC
Grant 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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