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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Turn key restaurants
2216 Pennsylvania Ave, Wilmington, DE 19806-2444
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US17-0110447
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1920
Construction
CONCRETE
Total area
6,221 SF
Lot
1.05 ac (45,738 SF)
Zoning code
26R5A1
APN
26-012.40-121
UPID
US17-0110447
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
-
Columbus Inn Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$670k
Owner & transaction history
2216 LLC · 16 yrs held
2216 LLC
since 2009
5 recorded transactions
Zoning & alternative use
26R5A1 · Wilmington, 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,070,000
Current use
MEDICAL BUILDING
$1,045,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$108 / 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
$12,036
Tax year 2023
Assessed value
$441,800
Assessed 2023
Previous assessed
$441,800
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$228,700
Assessed improvement
$213,100
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1920
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
2
Total area
6,221 SF
Lot
1.05 ac (45,738 SF)
Zoning code
26R5A1
APN
26-012.40-121
UPID
US17-0110447
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
26R5A1 · Wilmington, DE
Zoning 26R5A1 · permitted uses
26R5A1 · 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
RESTAURANT Current
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
RESTAURANT Current
MEDICAL BUILDING
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
1920
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Lot
1.05 ac
Current owner
From public records · entity-resolved
2216 LLC
Entity
Mailing address
105 FOULK RD, WILMINGTON, DE 19803-3740
Ownership since
2009
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
May 26, 2023
—
Columbus Inn Associates LLC
—
Deed
related
$1,250,000 · First Bank
Sep 18, 2009
—
2216 LLC
J & J Corp
Grant Deed
$2,375,000 · 2004-000037 LLC
—
—
Columbus Inn Associates LLC
—
Deed Of Trust
related
$400,000 · Beneficial Bank
—
—
Columbus Inn Associates LLC
—
Deed Of Trust
related
$2,000,000 · Midcoast Community Bank
—
—
Columbus Inn Associates LLC
—
Deed Of Trust
related
$275,000 · Midcoast Community 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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