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Property profile & analytics
OFF-MARKET
Estimated value
$820,000
Office Spaces
291 Carter Dr Middletown, DE 19709-5845
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US17-0018156
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2006
Construction
CONCRETE
Total area
4,798 SF
Lot
0.19 ac (8,276 SF)
Zoning code
23R-1B
APN
23-032.00-098
UPID
US17-0018156
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
-
Dr. Maryum M Rafique, DO Physician
-
Bayhealth Sleep Center, Middletown Medical Clinic
-
Integrated Health 360 Medical Clinic
-
Dr. Chee Houe Woo, MD Physician
-
Center for Interventional Pain & Spine - Middletown Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
$750k
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$820k
Owner & transaction history
Vc Leasing LLC · 5 yrs held
Vc Leasing LLC
since 2021
Last sale
$760,000
5 recorded transactions
Zoning & alternative use
23R-1B · Middletown, 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 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
$960,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
$815,000
6.5%
$750,000
7%
$700,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,345,000
Current use
RETAIL STORES
$1,100,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$820k
Range $738k – $902k · ±10% · vs last sale $760k (Mar 16 2021)
Last sale anchor
$760k
Mar 16 2021
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
$171 / 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
$5,865
Tax year 2023
Assessed value
$189,500
Assessed 2023
Previous assessed
$189,500
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$10,700
Assessed improvement
$178,800
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2006
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
4,798 SF
Lot
0.19 ac (8,276 SF)
Zoning code
23R-1B
APN
23-032.00-098
UPID
US17-0018156
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23R-1B · Middletown, DEZoning 23R-1B · permitted uses
23R-1B · Middletown, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
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
2006
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Vc Leasing LLC
Entity
Mailing address
675 VLY VW LN, WAYNE, PA 19087-2024
Ownership since
2021
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
Apr 29, 2022
—
Vc Leasing LLC
—
Deed
related
$384,000 · Univest Bank & Trust Co
Mar 16, 2021
$760,000
Vc Leasing LLC
291 Associates LLC
Deed
$570,000 · Univest Bank & Trust Co
Mar 8, 2007
$950,000
291 Associates LLC
Hog Hollow LLC
Deed
$775,000 · Wilmington Savings Fund Society Fsb
—
—
J Todd Ladutko
—
Deed Of Trust
related
$150,000 · David J & Judy R Doyen
—
—
J Todd Ladutko
—
Deed Of Trust
related
$150,000 · Doyen D J & J R Living Trust
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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