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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Individual retail properties
2111 Graves Rd, Hockessin, DE 19707-9129
Entity Owned
Free & Clear
Property ID
US17-0157547
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1983
Construction
ADOBE
Total area
25,200 SF
Lot
1.55 ac (67,518 SF)
Zoning code
CN
APN
08-020.00-046
UPID
US17-0157547
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
-
Modern Essentials Med Spa Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$720k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$500k
Blend (final)
Blend
$610k
Owner & transaction history
Arba III Spv-c LLC
Arba III Spv-c LLC
since 2026
6 recorded transactions
Zoning & alternative use
CN · Hockessin, 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 Hockessin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hockessin 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
$720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
GYM, HEALTH SPA
$850,000
Current use
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$24 / 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
$22,633
Tax year 2023
Assessed value
$685,900
Assessed 2023
Previous assessed
$685,900
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$100,800
Assessed improvement
$585,100
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1983
Construction
ADOBE
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
25,200 SF
Lot
1.55 ac (67,518 SF)
Zoning code
CN
APN
08-020.00-046
UPID
US17-0157547
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CN · Hockessin, DE
Zoning CN · permitted uses
CN · Hockessin, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hockessin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
GYM, HEALTH SPA Current
Est. value
$850,000
GYM, HEALTH SPA 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
1983
Construction
ADOBE
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
1.55 ac
Current owner
From public records · entity-resolved
Arba III Spv-c LLC
Entity
Free & Clear · 0 yrs held
Mailing address
83 CHARLES DR, NEW CASTLE, DE 19720-4679
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2026
$2,550,000
Arba III Spv-c LLC
Sheriff Of New Castle County
Deed
—
May 9, 2024
—
Wright Sports Management LLC
Akb Properties LLC
Deed
$1,382,000 · Delaware Community Development Corporati
Feb 2, 2024
—
Wright Sports Management LLC
Akb Properties LLC
Deed
$2,250,000 · Fulton Bank NA
Jun 8, 2022
—
Akb Properties LLC
Sulzman Enterprises IV LLC
Deed In Lieu Of Foreclosure
related
—
Sep 7, 2016
—
Sulzman Enterprises IV LLC
Akb Properties L L C
Deed
—
Aug 4, 2004
$400,000
Akb Properties LLC
F S Owensby Co
Grant Deed
$1,000,000 · Hockessin Indoor Tennis INC
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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