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Property profile & analytics
OFF-MARKET
Estimated value
$9,770,000
Warehouses
300 Cornell Dr Wilmington, DE 19801-5768
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US17-0137939
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1950
Construction
CONCRETE
Total area
73,042 SF
Lot
22.49 ac (979,664 SF)
Zoning code
I
APN
10-005.20-003
UPID
US17-0137939
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
-
Shopfans Department Store Discount Store
-
Facility Services Group, Inc. Carpet Cleaning Service
-
Korea Express USA Freight Service Logistics Company
-
D1 EXPRESS INC Shipping Company Freight Service
-
KOTREE Express(코트리), Stars INC Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.75M
Comparable Approach
Comparable
$11.54M
Blend (final)
Blend
$9.77M
Owner & transaction history
Cip Associates LLC
Cip Associates LLC
1 recorded transaction
Zoning & alternative use
I · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$15.1M
+70.4%
Retail stores
$15.1M
+69.9%
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 Wilmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wilmington 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%
$9,480,000
6.5%
$8,750,000
7%
$8,125,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$8,860,000
Current use
COMMERCIAL (GENERAL)
$15,100,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$15,050,000
Change: +70% · Conversion: Moderate
Blend value · Realmo final
$9.77M
Range $8.79M – $10.75M · ±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
$134 / 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 2024Property tax & assessments
Tax year 2024
Assessed value
$3,567,000
Assessed 2024
Previous assessed
$2,448,800
+45.7% YoY
Assessed land
$562,300
Assessed improvement
$3,004,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1950
Construction
CONCRETE
Heating
YES
Buildings
6
Stories
1
Total area
73,042 SF
Lot
22.49 ac (979,664 SF)
Zoning code
I
APN
10-005.20-003
UPID
US17-0137939
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
I · Wilmington, DE
Zoning I · permitted uses
I · Wilmington, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wilmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$8.9M
COMMERCIAL (GENERAL)
Est. value
$15.1M
RETAIL STORES
Est. value
$15.1M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
1950
Construction
CONCRETE
Heating
YES
Stories
1
Buildings
6
Lot
22.49 ac
Current owner
From public records · entity-resolved
Cip Associates LLC
Entity
Mailing address
234 N JAMES ST, WILMINGTON, DE 19804-3132
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Cip Associates LLC
—
Deed Of Trust
related
$10,000,000 · Wilmington Svg Fund Societyfsb
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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