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Property profile & analytics
OFF-MARKET
Estimated value
$1,585,000
Investment properties
2407 Lancaster Ave Wilmington, DE 19805-3736
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US17-0149659
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1963
Construction
CONCRETE
Total area
9,318 SF
Lot
0.57 ac (24,829 SF)
Zoning code
26C-2
APN
26-026.10-069
UPID
US17-0149659
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.46M
Comparable Approach
Comparable
$1.79M
Blend (final)
Blend
$1.59M
Owner & transaction history
Lancaster Shopping Center LLC · 4 yrs held
Lancaster Shopping Center LLC
since 2022
5 recorded transactions
Zoning & alternative use
26C-2 · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+33.5%
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%
$1,585,000
6.5%
$1,460,000
7%
$1,355,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,440,000
Current use
RETAIL STORES
$1,920,000
Change: +33% · Conversion: Easy
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±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
$170 / 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
$11,371
Tax year 2023
Assessed value
$417,400
Assessed 2023
Previous assessed
$417,400
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$74,500
Assessed improvement
$342,900
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1963
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
2
Total area
9,318 SF
Lot
0.57 ac (24,829 SF)
Zoning code
26C-2
APN
26-026.10-069
UPID
US17-0149659
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
26C-2 · Wilmington, DE
Zoning 26C-2 · permitted uses
26C-2 · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL) Current
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
1963
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Lancaster Shopping Center LLC
Entity
Mailing address
101 N MARYLAND AVE, WILMINGTON, DE 19804-1335
Ownership since
2022
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
Feb 4, 2025
—
Lancaster Shopping Center LLC
—
Deed
related
$2,306,250 · Dover FCU
Jun 21, 2022
—
Lancaster Shopping Center LLC
Anchor Holidngs LLC
Special Warranty Deed
$1,968,750 · Republic First Bank
Aug 20, 2021
—
Anchor Holding LLC
—
Deed
related
$1,035,000 · Oceanfirst Bank
Nov 28, 2006
—
Anchor Holding LLC
Anchor Holding Co
Correction Deed
related
$956,000 · Delaware National Bank
—
—
Anchor Holding Co
—
Deed Of Trust
related
$166,000 · Wilmington Savings Fund Societ
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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