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Property profile & analytics
OFF-MARKET
Estimated value
$2,710,000
Medical Office Space
200 Cleaver Farms Rd Middletown, DE 19709-1630
Entity Owned
6-yr Hold
Free & Clear
Property ID
US17-0232144
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
2017
Construction
CONCRETE
Total area
20,000 SF
Lot
7.8 ac (339,768 SF)
Zoning code
23C-2
APN
23-007.00-191
UPID
US17-0232144
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.91M
Blend (final)
Blend
$2.71M
Owner & transaction history
Reybold Venture Grp Xii-east L · 6 yrs held
Reybold Venture Grp Xii-east L
since 2020
7 recorded transactions
Zoning & alternative use
23C-2 · 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
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
Blend value · Realmo final
$2.71M
Range $2.44M – $2.98M · ±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
$136 / 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
$50,190
Tax year 2023
Assessed value
$1,621,700
Assessed 2023
Previous assessed
$1,621,700
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$339,800
Assessed improvement
$1,281,900
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
2017
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
20,000 SF
Lot
7.8 ac (339,768 SF)
Zoning code
23C-2
APN
23-007.00-191
UPID
US17-0232144
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23C-2 · Middletown, DEZoning 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
Building & site characteristics
From public records
Year built
2017
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
7.8 ac
Current owner
From public records · entity-resolved
Reybold Venture Grp Xii-east L
Entity
Free & Clear · 6 yrs held
Mailing address
116 E SCOTLAND DR, BEAR, DE 19701-1766
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2020
—
Reybold Venture Group Vi LLC
—
Deed
related
$4,925,000 · Pnc Bk
Mar 12, 2020
$16,160
Reybold Venture Grp Xii-east L
Reybold Venture Group Vi LLC
Grant Deed
related
—
Sep 8, 2017
—
Reybold Venture Group Vi LLC
—
Trustees Deed
related
$3,200,000 · Pnc Bk
Jan 15, 2013
—
Reybold Venture Group Vi LLC
—
Deed Of Trust
related
$1,548,742 · M & T Bank
May 31, 2011
—
Reybold Venture Group Vi LLC
—
Deed Of Trust
related
$116,062,579 · M & T Bank
—
—
Reybold Venture Group Vi LLC
—
Deed Of Trust
related
$4,925,000 · Pnc Bk
—
—
Reybold Venture Group Vi LLC
—
Deed Of Trust
related
$1,720,000 · Pnc 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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