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Property profile & analytics
OFF-MARKET
Estimated value
$17,085,000
Distribution properties
302 Cleveland Ave, Newark, DE 19711
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US17-0121638
Property profile
Verified
Property type
Distribution properties
Use group
COM AUTO TRANS/STORAGE
Year built
2012
Construction
STONE
Total area
5,400 SF
Lot
2.22 ac (96,703 SF)
Zoning code
18BC
APN
18-015.00-005
UPID
US17-0121638
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.09M
Owner & transaction history
Hertrich Properties Xli LLC · 3 yrs held
Hertrich Properties Xli LLC
since 2022
Last sale
$16.5M
5 recorded transactions
Zoning & alternative use
18BC · Newark, 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 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
$18,255,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$17.09M
Range $15.38M – $18.79M · ±10% · vs last sale $16.50M (Nov 9 2022)
Last sale anchor
$16.50M
Nov 9 2022
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
$3,164 / 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
$20,335
Tax year 2023
Assessed value
$560,400
Assessed 2023
Previous assessed
$560,400
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$314,300
Assessed improvement
$246,100
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
Distribution properties
Use group
COM AUTO TRANS/STORAGE
Status
Off-Market
Year built
2012
Construction
STONE
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
5,400 SF
Lot
2.22 ac (96,703 SF)
Zoning code
18BC
APN
18-015.00-005
UPID
US17-0121638
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
18BC · Newark, DE
Zoning 18BC · permitted uses
18BC · Newark, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newark. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2012
Construction
STONE
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
2.22 ac
Current owner
From public records · entity-resolved
Hertrich Properties Xli LLC
Entity
Mailing address
1427 BAY RD, MILFORD, DE 19963-6129
Ownership since
2022
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
Nov 9, 2022
$16,500,000
Hertrich Properties Xli LLC
Rcp Properties LLC
Deed
$12,960,000 · M & T Bank
May 24, 2016
—
Rcp Properties LLC
—
Deed
related
$4,650,000 · M & T Bank
Jul 11, 2008
—
Rcp Properties LLC
Hynansky,john
Grant Deed
related
—
Feb 6, 2008
$13,750,000
Rcp Properties LLC
John Hynansky
Deed
$2,630,000 · Wilmington Trust Co
Jan 23, 2008
—
John Hynansky
Hynansky,deanna
Quit Claim Deed
related
—
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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