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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Turn key restaurants
222 Delaware St, Historic New Castle, DE 19720-4855
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US17-0138651
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1899
Construction
CONCRETE
Total area
4,922 SF
Lot
0.19 ac (8,276 SF)
Zoning code
21HC
APN
21-015.30-186
UPID
US17-0138651
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
-
International Container & Cargo Shipping of Delaware Freight Service Logistics Company
-
1-800 Office Solutions Computer & Electronic Repair
-
Bosik IV Joseph Law School
-
OnlyHats Clothing Store
-
DTC LABS Marketing & Advertising IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$375k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$720k
Blend (final)
Blend
$550k
Owner & transaction history
222 Delaware Street LLC · 3 yrs held
222 Delaware Street LLC
since 2023
6 recorded transactions
Zoning & alternative use
21HC · Historic New Castle, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$765,000
+20.6%
Retail stores
$760,000
+19.5%
Commercial (general)
$675,000
+6.2%
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 Historic New Castle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Historic New Castle 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
$375,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$635,000
Current use
MEDICAL BUILDING
$765,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$760,000
Change: +19% · Conversion: Easy
COMMERCIAL (GENERAL)
$675,000
Change: +6% · Conversion: Easy
AUTO REPAIR, GARAGE
$595,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$112 / 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
$13,958
Tax year 2023
Assessed value
$534,300
Assessed 2023
Previous assessed
$534,300
+0.0% YoY
Effective rate
2.61%
On assessed value
Assessed land
$84,800
Assessed improvement
$449,500
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1899
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
4,922 SF
Lot
0.19 ac (8,276 SF)
Zoning code
21HC
APN
21-015.30-186
UPID
US17-0138651
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
21HC · Historic New Castle, DE
Zoning 21HC · permitted uses
21HC · Historic New Castle, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Historic New Castle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$635,000
MEDICAL BUILDING
Est. value
$765,000
RETAIL STORES
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$675,000
AUTO REPAIR, GARAGE
Est. value
$595,000
RESTAURANT Current
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1899
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
0.19 ac
Current owner
From public records · entity-resolved
222 Delaware Street LLC
Entity
Mailing address
1105 N MARKET ST, WILMINGTON, DE 19801-1216
Ownership since
2023
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 14, 2024
—
22 Delaware Street LLC
—
Deed
related
$1,435,000 · Wilmington Savings Fund Society Fsb
May 3, 2023
—
222 Delaware Street LLC
New Amsteli Holdings LLC
Deed
—
Nov 20, 2020
—
New Amstel Holdings LLC
Wik Central LLC
Deed
$1,950,000 · Wilmington Savings Fund Society Fsb
Jul 28, 2005
$10
Wik Central LLC
New Castle Corner LLC
Grant Deed
—
Nov 5, 2004
$1,675,000
New Castle Corner LLC
Coastal Midlantic Co LLC
Grant Deed
$2,050,000 · Wilmington Trust Co
—
—
Wik Central LLC
—
Deed Of Trust
related
$1,435,096 · 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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