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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2015 Concord Pike Wilmington, DE 19803-2904

    • Turn key restaurants
    • 6,191 SF
    • 2.16 lot acres
    OFF-MARKET
    Last Sale
    Nov 12, 2024
    Value Estimations
    $680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0153792
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Cash2Bitcoin Bitcoin ATM / Atm
    • Grotto Pizza / Pizza Restaurant / Family Restaurant

    Property Details for 2015 Concord Pike

    Year built
    1983
    Construction
    CONCRETE
    Lot size
    2.16 lot acres
    Property size
    6,191 SF
    Zone code
    CN
    Property type
    Turn key restaurants
    APN
    06-100.00-070
    APU
    610000070

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $540,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $816,000
      Market price range: $422k - $817k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $640,000
      Current use
      AUTO REPAIR, GARAGE
      $745,000
      Change: +17% Conversion: Difficult
      RETAIL STORES
      $520,000
      Change: -19% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5454
    Latitude
    39.7891
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $38,552
    $406,000
    $689,700
    $1,095,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $615,000
      7,206 SF

      303 Rocky Run Pkwy

      RESTAURANT • 7,206 SF
      303 Rocky Run Pkwy, Wilmington, DE 19803-1522
      View Details
    • Value Estimation
      $355,000
      5,099 SF

      1600 Rocky Run Pkwy

      RESTAURANT • 5,099 SF
      1600 Rocky Run Pkwy, Wilmington, DE 19803-5404
      View Details
    • Value Estimation
      $335,000
      3,528 SF

      4003 Concord Pike

      RESTAURANT • 3,528 SF
      4003 Concord Pike, Wilmington, DE 19803-1717
      View Details
    • Value Estimation
      $630,000
      6,662 SF

      1811 Concord Pike

      RESTAURANT • 6,662 SF
      1811 Concord Pike, Wilmington, DE 19803-2901
      View Details
    • Value Estimation
      $375,000
      5,772 SF

      4157 Concord Pike

      RESTAURANT • 5,772 SF
      4157 Concord Pike, Wilmington, DE 19803-1487
      View Details
    • Value Estimation
      $290,000
      1,321 SF

      3401 Concord Pike

      RESTAURANT • 1,321 SF
      3401 Concord Pike, Wilmington, DE 19803-5018
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      36,000 SF

      Retail Space in Shopping Center

      Available retail space in a large shopping center.
      & Concord Pike Rocky Run Pkwy, Wilmington, DE 19803
      View Details
    • Contact for pricing
      0.58 Acres

      Wilmington Retail Spaces Available

      High-visibility retail & office spaces. Multiple sizes.
      3300 Concord Pike, Wilmington, DE 19803
      View Details
    • Contact for pricing

      Prime Commercial Property on Concord Pike

      Exceptional visibility in Delaware's top retail corridor.
      3300 Concord Pike, Wilmington, DE 19803
      View Details
    • Contact for pricing

      Retail Space with Shared Parking

      Retail property featuring shared parking and signage opportunities.
      2904 Concord Pike, Wilmington, DE 19803
      View Details
    • $2,195,000
      3,652 SF

      Concord Pike Retail Investment Opportunity

      NNN investment property on Concord Pike with two tenants.
      3101 Concord Pike, Wilmington, DE 19803
      View Details
    • $450,000

      Wilmington Specialty Property For Sale

      Specialty property available for purchase in Wilmington, Delaware.
      1108 Graylyn Rd, Wilmington, DE 19803
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,750 SF

      Prime Retail Space on Concord

      High-visibility retail space with drive-thru in Wilmington's vibrant corridor.
      5107 Concord Pike, Wilmington, DE 19803
      View Details
    • $32 SF/Yr
      6,294 SF

      Restaurant Space in Brandywine Commons

      Freestanding restaurant with full bar and kitchen for lease.
      307 Rocky Run Pkwy, Wilmington, DE 19803
      View Details
    • Contact for pricing
      7,700 SF

      Retail Development with Drive-Thru

      Shovel-ready retail development with drive-thru opportunity on Concord Pike.
      2300 Concord Pike, Wilmington, DE 19803
      View Details
    • Contact for pricing
      4,000 SF

      Wilmington Retail Space For Lease

      Available retail space in high-traffic Wilmington location.
      3596 Concord Pike, Wilmington, DE 19803
      View Details
    • Contact for pricing
      1,931 SF

      Retail Space on Concord Pike

      Retail space with high traffic and ample parking available for rent.
      3901 Concord Pike, Wilmington, DE 19803
      View Details
    • Contact for pricing
      730 SF

      Retail and Office Space Available

      Renovated retail and office space in thriving Wilmington location.
      3003 Concord Pike, Wilmington, DE 19803
      View Details

    Property Visit Statistics

    • Visits by month
      13.7k
    • Visitors by month
      8.9k
    • Avg Time on site
      56 min
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    2015 Concord Pike
    Wilmington, DE 19803-2904
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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