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Property profile & analytics
OFF-MARKET
Estimated value
$9,015,000
Grocery and convenience stores
200 Dove Run Ctr Dr Middletown, DE 19709-7971
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US17-0260978
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2004
Construction
CONCRETE
Total area
56,292 SF
Lot
18.45 ac (803,682 SF)
Zoning code
23C-3
APN
23-025.00-029
UPID
US17-0260978
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
$8.39M
Comparable Approach
Comparable
$7.99M
Blend (final)
Blend
$9.02M
Owner & transaction history
Dove Run Associates LLC · 21 yrs held
Dove Run Associates LLC
since 2004
7 recorded transactions
Zoning & alternative use
23C-3 · 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%
$9,085,000
6.5%
$8,385,000
7%
$7,785,000
Alternative Use
Use
Estimation
RETAIL STORES
$12,890,000
Current use
Blend value · Realmo final
$9.02M
Range $8.11M – $9.92M · ±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
$160 / 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
$128,042
Tax year 2023
Assessed value
$4,137,200
Assessed 2023
Previous assessed
$4,137,200
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$803,700
Assessed improvement
$3,333,500
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
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2004
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
8
Stories
2
Total area
56,292 SF
Lot
18.45 ac (803,682 SF)
Zoning code
23C-3
APN
23-025.00-029
UPID
US17-0260978
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23C-3 · Middletown, DEZoning 23C-3 · permitted uses
23C-3 · Middletown, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$12.9M
RETAIL STORES Current
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
2004
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Buildings
8
Lot
18.45 ac
Current owner
From public records · entity-resolved
Dove Run Associates LLC
Entity
Free & Clear · 21 yrs held
Mailing address
105 FOULK RD, WILMINGTON, DE 19803-3740
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2024
—
Middlecap Associates LLC
—
Deed
related
$15,000,000 · S & T Bank
Feb 11, 2013
—
Apple Delaware LLC
—
Loan Modification
related
$675,000,000 · Bank Of America
Jul 11, 2012
—
Apple Delaware LLC
—
Loan Modification
related
$575,000,000 · Bank Of America
May 13, 2011
—
Apple Delaware LLC
—
Deed Of Trust
related
$320,000,000 · Bank Of America
Feb 2, 2010
—
Apple Delaware LLC
—
Deed Of Trust
related
$160,000,000 · Bank Of America
Dec 8, 2005
—
Apple Delaware LLC
—
Deed Of Trust
related
$181,620,000 · Bank Of America
Aug 25, 2004
$10
Dove Run Associates LLC
Middlecap Associates LLC
Grant Deed
related
—
—
—
Apple Delaware LLC
—
Loan Modification
related
$622,000,000 · Bank Of America
—
—
Mrrc Restaurants LLC
—
Deed Of Trust
related
$400,000 · Wells Fargo Bank
—
—
Dove Run Associates LLC
—
Deed Of Trust
related
$14,000,000 · Barclays Bk/plc
—
—
Mrrc Restaurants LLC
—
Deed Of Trust
related
$1,163,162 · Wachovia Bank NA
—
—
Dove Run Assocs LLC
—
Deed Of Trust
related
$12,750,000 · Wachovia Bank NA
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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