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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Medical Office Space
2123 Newport Pike, Wilmington, DE 19804-3719
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US17-0121189
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1971
Construction
CONCRETE
Total area
2,728 SF
Lot
0.57 ac (24,829 SF)
Zoning code
CN
APN
07-046.10-165
UPID
US17-0121189
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
-
Faith Harvest Worship Center Community Center
-
Delaware Remodeling Corp Hardware & Home Improvement Interior Design
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$570k
CAP Approach
CAP
$605k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$520k
Owner & transaction history
Mzde Property Investments LLC · 5 yrs held
Mzde Property Investments LLC
since 2020
Last sale
$425,000
5 recorded transactions
Zoning & alternative use
CN · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$635,000
+38.3%
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
$575,000
ML approach
$570,000
CAP Approach
CAP Return
Estimation
6%
$655,000
6.5%
$605,000
7%
$560,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$460,000
Current use
COMMERCIAL (GENERAL)
$635,000
Change: +38% · Conversion: Easy
RETAIL STORES
$450,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $425k (Aug 21 2020)
Last sale anchor
$425k
Aug 21 2020
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
$191 / 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
$11,064
Tax year 2023
Assessed value
$155,800
Assessed 2023
Previous assessed
$155,800
+0.0% YoY
Effective rate
7.10%
On assessed value
Assessed land
$49,700
Assessed improvement
$106,100
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1971
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
2,728 SF
Lot
0.57 ac (24,829 SF)
Zoning code
CN
APN
07-046.10-165
UPID
US17-0121189
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CN · Wilmington, DE
Zoning CN · permitted uses
CN · 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
MEDICAL BUILDING Current
Est. value
$460,000
COMMERCIAL (GENERAL)
Est. value
$635,000
RETAIL STORES
Est. value
$450,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1971
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Mzde Property Investments LLC
Entity
Mailing address
380 PULASKI HWY, NEW CASTLE, DE 19720-4668
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2020
$425,000
Mzde Property Investments LLC
Abjibapa Newport LLC
Grant Deed
$325,000 · Kalpesh S Patel
Mar 7, 2016
$275,000
Abjibapa Newport LLC
Cmj Properties LLC
Grant Deed
—
Jun 4, 2008
—
Cmj Properties LLC
Popczyk,krzystof R
Grant Deed
—
Jan 5, 2007
$10
Krzysztof R Popczyk
Y & D
Grant Deed
—
—
—
Cmj Properties LLC
—
Deed Of Trust
related
$1,459,000 · M & T Bank
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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