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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Turn key restaurants
309 Rocky Run Pkwy Wilmington, DE 19803-1522
Individually Owned
2-yr Hold
Free & Clear
Property ID
US17-0232404
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1991
Construction
CONCRETE
Total area
9,384 SF
Lot
1.97 ac (85,813 SF)
Zoning code
CR
APN
06-029.00-015
UPID
US17-0232404
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
-
Red Lobster Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$903k
Blend (final)
Blend
$715k
Owner & transaction history
Silver Spring Series · 2 yrs held
Silver Spring Series
since 2023
3 recorded transactions
Zoning & alternative use
CR · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+16.6%
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
$530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$970,000
Current use
AUTO REPAIR, GARAGE
$1,130,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$790,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$715k
Range $644k – $787k · ±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
$76 / 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
$31,578
Tax year 2023
Assessed value
$897,500
Assessed 2023
Previous assessed
$897,500
+0.0% YoY
Effective rate
3.52%
On assessed value
Assessed land
$246,300
Assessed improvement
$651,200
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1991
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
9,384 SF
Lot
1.97 ac (85,813 SF)
Zoning code
CR
APN
06-029.00-015
UPID
US17-0232404
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CR · Wilmington, DE
Zoning CR · permitted uses
CR · 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
RESTAURANT Current
Est. value
$970,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$790,000
RESTAURANT Current
AUTO REPAIR, GARAGE
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
1991
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
1.97 ac
Current owner
From public records · entity-resolved
Silver Spring Series
Individual
Free & Clear · 2 yrs held
Mailing address
4204 PYLES FRD RD, GREENVILLE, DE 19807-1734
Ownership since
2023
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
Sep 28, 2023
—
Silver Spring Series
Fcpt Holdings LLC
Deed
—
Jan 7, 2019
$4,905,645
Fcpt Holdings LLC
Arcp Rl Portfolio Vii LLC
Grant Deed
—
Aug 18, 2014
—
Arcp Rl Portfolio Vii LLC
Gmri INC
Grant Deed
—
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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