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Property profile & analytics
OFF-MARKET
Estimated value
$4,395,000
Grocery and convenience stores
270 Polly Drummond Hl Rd Newark, DE 19711
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0135718
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1971
Construction
CONCRETE
Total area
26,260 SF
Lot
8.72 ac (379,843 SF)
Zoning code
CN
APN
08-042.30-149
UPID
US17-0135718
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
-
Chase ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.91M
Comparable Approach
Comparable
$4.08M
Blend (final)
Blend
$4.40M
Owner & transaction history
Rojan 586 Polly LLC · 7 yrs held
Rojan 586 Polly LLC
since 2019
3 recorded transactions
Zoning & alternative use
CN · Newark, DE
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
by Request
CAP Approach
CAP Return
Estimation
6%
$4,235,000
6.5%
$3,910,000
7%
$3,630,000
Alternative Use
Use
Estimation
RETAIL STORES
$6,015,000
Current use
Blend value · Realmo final
$4.40M
Range $3.96M – $4.83M · ±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
$167 / 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
$94,692
Tax year 2023
Assessed value
$2,264,400
Assessed 2023
Previous assessed
$2,264,400
+0.0% YoY
Effective rate
4.18%
On assessed value
Assessed land
$759,700
Assessed improvement
$1,504,700
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1971
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
26,260 SF
Lot
8.72 ac (379,843 SF)
Zoning code
CN
APN
08-042.30-149
UPID
US17-0135718
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CN · Newark, DEZoning CN · permitted uses
CN · Newark, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
BILL NO
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$6.0M
RETAIL STORES Current
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
1971
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
8.72 ac
Current owner
From public records · entity-resolved
Rojan 586 Polly LLC
Entity
Mailing address
2213 CONCORD PIKE, WILMINGTON, DE 19803-2908
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2019
—
Rojan 586 Polly LLC
—
Deed
related
$3,300,000 · Morgan Stanley Pvt Bk NA
—
—
Rojan 586 Polly LLC
—
Loan Modification
related
$3,300,000 · Morgan Stanley Pvt Bk NA
—
—
Rojan 586 Polly LLC
—
Deed Of Trust
related
$3,500,000 · Morgan Stanley Private Bank 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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