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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Motels
3 Memorial Dr New Castle, DE 19720-1310
Individually Owned
15-yr Hold
~
Est. High Equity
Property ID
US17-0095214
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1990
Construction
CONCRETE
Total area
6,326 SF
Lot
1 ac (43,560 SF)
Zoning code
CR
APN
10-010.40-023
UPID
US17-0095214
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
-
Budget Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
$540k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$535k
Owner & transaction history
New Castle Hospitality L Sahaj · 15 yrs held
New Castle Hospitality L Sahaj
since 2010
7 recorded transactions
Zoning & alternative use
CR · New Castle, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$865,000
+105.2%
Restaurant
$815,000
+93.2%
Auto repair, garage
$760,000
+80.2%
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 New Castle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Castle 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
$525,000
CAP Approach
CAP Return
Estimation
6%
$585,000
6.5%
$540,000
7%
$500,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$425,000
Current use
COMMERCIAL (GENERAL)
$865,000
Change: +105% · Conversion: Difficult
RESTAURANT
$815,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$760,000
Change: +80% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$85 / 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
$22,516
Tax year 2023
Assessed value
$712,100
Assessed 2023
Previous assessed
$712,100
+0.0% YoY
Effective rate
3.16%
On assessed value
Assessed land
$108,900
Assessed improvement
$603,200
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1990
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
3
Total area
6,326 SF
Lot
1 ac (43,560 SF)
Zoning code
CR
APN
10-010.40-023
UPID
US17-0095214
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CR · New Castle, DE
Zoning CR · permitted uses
CR · New Castle, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Castle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$425,000
COMMERCIAL (GENERAL)
Est. value
$865,000
RESTAURANT
Est. value
$815,000
AUTO REPAIR, GARAGE
Est. value
$760,000
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
RESTAURANT
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
1990
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
3
Lot
1 ac
Current owner
From public records · entity-resolved
New Castle Hospitality L Sahaj
Individual
Mailing address
1119 S COLLEGE AVE, NEWARK, DE 19713-2307
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2023
—
Sahaj New Castle Hospitality LLC
—
Deed
related
$70,000 · Del-one FCU
Aug 30, 2017
—
Sahaj New Castle Hospitality LLC
—
Deed
related
$817,049 · Bryn Mawr Trust Co
Jul 26, 2010
$1,150,000
New Castle Hospitality L Sahaj
Sheriff Of New Castle County
Trustees Deed
related
—
Dec 9, 2008
—
Jay Ambe INC
—
Trustees Deed
related
$400,000 · Vkrm Investors LLC
—
—
Jay Ambe INC
—
Deed Of Trust
related
$180,000 · Vkrm Investors LLC
—
—
Jay Ambe INC
—
Deed Of Trust
related
$500,000 · Vkrm Investors LLC
—
—
Jay Ambe INC
—
Deed Of Trust
related
$1,850,000 · The Bank
—
—
Jay Ambe INC
—
Deed Of Trust
related
$150,000 · Vinod Patel
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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