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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Office Spaces
255 Cleveland Ave Newark, DE 19711-3710
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US17-0005869
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1981
Construction
CONCRETE
Total area
3,010 SF
Lot
1.39 ac (60,548 SF)
Zoning code
18BC
APN
18-014.00-259
UPID
US17-0005869
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
-
Ourisman Tri-State Subaru Car Dealership
-
Ourisman Tri-State Subaru Service Center Auto Repair Shop
-
Ourisman Tri-State Subaru Parts Center Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$580k
CAP Approach
CAP
$470k
Comparable Approach
Comparable
$891k
Blend (final)
Blend
$645k
Owner & transaction history
Ourisman Imports Newark LLC · 2 yrs held
Ourisman Imports Newark LLC
since 2024
2 recorded transactions
Zoning & alternative use
18BC · Newark, 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 Newark submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newark 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
$580,000
CAP Approach
CAP Return
Estimation
6%
$510,000
6.5%
$470,000
7%
$440,000
Blend value · Realmo final
$645k
Range $581k – $710k · ±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
$214 / 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
$36,414
Tax year 2023
Assessed value
$1,003,500
Assessed 2023
Previous assessed
$1,003,500
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$386,500
Assessed improvement
$617,000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1981
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Total area
3,010 SF
Lot
1.39 ac (60,548 SF)
Zoning code
18BC
APN
18-014.00-259
UPID
US17-0005869
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
18BC · Newark, DE
Zoning 18BC · permitted uses
18BC · Newark, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newark. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1981
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Lot
1.39 ac
Current owner
From public records · entity-resolved
Ourisman Imports Newark LLC
Entity
Mailing address
807 ROCKVILLE PIKE, ROCKVILLE, MD 20852-1252
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2024
—
Ourisman Imports Newark LLC
Slap Properties Delaware LLC
Assignment Of Lease (leasehold Sale)
—
—
—
Slap Properties Delaware LLC
—
Deed Of Trust
related
$1,000,000 · Wachovia Bank Of Delaware NA
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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