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Property profile & analytics
OFF-MARKET
Estimated value
$3,115,000
Parking lots & garages
1801 Augustine Cut Off Wilmington, DE 19803-4404
Entity Owned
9-yr Hold
Free & Clear
Property ID
US17-0168044
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2017
Construction
BRICK
Total area
36,324 SF
Lot
20.38 ac (887,753 SF)
Zoning code
OR
APN
06-136.00-030
UPID
US17-0168044
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
-
MPN Connect Hospital
-
Incyte 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
$3.12M
Owner & transaction history
Incyte Corp · 9 yrs held
Incyte Corp
since 2016
3 recorded transactions
Zoning & alternative use
OR · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.4M
+47.1%
Restaurant
$3.8M
+26.2%
Retail stores
$3.1M
+2.7%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$2,970,000
Current use
AUTO REPAIR, GARAGE
$4,370,000
Change: +47% · Conversion: Difficult
RESTAURANT
$3,750,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$3,050,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,710,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$3.12M
Range $2.80M – $3.43M · ±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
$86 / 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
$1,213,288
Tax year 2023
Assessed value
$34,483,600
Assessed 2023
Previous assessed
$34,483,600
+0.0% YoY
Effective rate
3.52%
On assessed value
Assessed land
$1,775,500
Assessed improvement
$32,708,100
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2017
Construction
BRICK
Heating
NONE
Buildings
7
Stories
5
Total area
36,324 SF
Lot
20.38 ac (887,753 SF)
Zoning code
OR
APN
06-136.00-030
UPID
US17-0168044
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
OR · Wilmington, DE
Zoning OR · permitted uses
OR · 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.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$4.4M
RESTAURANT
Est. value
$3.8M
RETAIL STORES
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$2.7M
PARKING LOT Current
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
WAREHOUSE, STORAGE
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
2017
Construction
BRICK
Heating
NONE
Stories
5
Buildings
7
Lot
20.38 ac
Current owner
From public records · entity-resolved
Incyte Corp
Entity
Free & Clear · 9 yrs held
Mailing address
1801 AUGUSTINE CUT OFF, WILMINGTON, DE 19803-4404
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2016
—
Incyte Corp
Augustine Land II LP
Grant Deed
—
May 2, 2016
$79,945,000
Incyte Corp
Augustine Land II LP
Grant Deed
—
—
—
Augustine Land I LP
—
Loan Modification
related
$40,875,000 · Manufacturers Traders & Trust
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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