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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Specialty properties
260 Reedy Pt Rd, Middletown, DE 19709
Entity Owned
13-yr Hold
Free & Clear
Property ID
US17-0333802
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
2013
Construction
CONCRETE
Total area
3,584 SF
Lot
101.37 ac (4,415,677 SF)
Zoning code
SR
APN
12-030.00-003
UPID
US17-0333802
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
-
Thousand Acre Farm Wedding Service
-
Thousand Acre Farm Wedding & Event Venue Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$410k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$545k
Owner & transaction history
Thousand Acre Farm LLC · 13 yrs held
Thousand Acre Farm LLC
since 2013
7 recorded transactions
Zoning & alternative use
SR · Middletown, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$560,000
+17.3%
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 Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown 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
$410,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$475,000
Current use
MEDICAL BUILDING
$560,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$440,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$435,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$152 / 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
$12,450
Tax year 2023
Assessed value
$459,100
Assessed 2023
Previous assessed
$459,100
+0.0% YoY
Effective rate
2.71%
On assessed value
Assessed land
$77,300
Assessed improvement
$381,800
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
2013
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
3
Total area
3,584 SF
Lot
101.37 ac (4,415,677 SF)
Zoning code
SR
APN
12-030.00-003
UPID
US17-0333802
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
SR · Middletown, DE
Zoning SR · permitted uses
SR · Middletown, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$475,000
MEDICAL BUILDING
Est. value
$560,000
COMMERCIAL (GENERAL)
Est. value
$440,000
AUTO REPAIR, GARAGE
Est. value
$435,000
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
MEDICAL BUILDING
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
2013
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
3
Lot
101.37 ac
Current owner
From public records · entity-resolved
Thousand Acre Farm LLC
Entity
Free & Clear · 13 yrs held
Mailing address
191 AIRPORT RD, NEW CASTLE, DE 19720-2379
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2026
—
Thousand Acre Farm LLC
—
Deed
related
$1,400,000 · Horizon Farm Credit Aca
Jan 21, 2020
—
Thousand Acre Farm LLC
—
Deed
related
$45,000 · Farm Credit Svcs
Oct 9, 2019
—
Thousand Acre Farm LLC
—
Deed
related
$100,000 · Farm Credit Svcs
Jan 11, 2013
—
Thousand Acre Farm LLC
Hynson,michael P
Grant Deed
—
Dec 4, 2012
$550,000
Michael P Hynson
Reedy Cove Syndicate
Deed
$350,000 · Midatlantic Farm Credit Aca
—
—
Thousand Acre Farm LLC
—
Deed Of Trust
related
$100,000 · Farm Credit Svcs
—
—
Thousand Acre Farm LLC
—
Deed Of Trust
related
$45,000 · Farm Credit Svcs
—
—
Thousand Acre Farm LLC
—
Deed Of Trust
related
$100,000 · Td Bk NA
—
—
Thousand Acre Farm LLC
—
Deed Of Trust
related
$185,650 · Midatlantic Farm Credit Aca
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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