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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3606 Downing Dr Wilmington, DE 19802-2406

    • Self service car washes
    • 2,616 SF
    • 0.59 lot acres
    OFF-MARKET
    Last Sale
    Jan 04, 2023
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0476245
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sim Auto Wash / Self Service Car Wash / Car Wash
    • Self Car Wash / Car Wash

    Property Details for 3606 Downing Dr

    Year built
    1988
    Construction
    STONE
    Lot size
    0.59 lot acres
    Property size
    2,616 SF
    Zone code
    26M-1
    Property type
    Self service car washes
    APN
    26-024.00-003
    APU
    2602400003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $450,000
      Current use
      RETAIL STORES
      $510,000
      Change: +14% Conversion: Difficult
      MEDICAL BUILDING
      $440,000
      Change: -2% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5177
    Latitude
    39.7528
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,759
    $20,700
    $73,000
    $93,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $305,000
      1,155 SF

      3501 Miller Rd

      CAR WASH - SELF-SERVE • 1,155 SF
      3501 Miller Rd, Wilmington, DE 19802
      View Details
    • Value Estimation
      $350,000
      756 SF

      4201 Market St

      CAR WASH - AUTOMATED • 756 SF
      4201 Market St, Wilmington, DE 19802-2223
      View Details
    • Value Estimation by Request
      0.10 Acres

      908 Concord Ave

      PARKING LOT • 0.10 Acres
      908 Concord Ave, Wilmington, DE 19802
      View Details
    • Value Estimation
      $420,000
      19,166 SF

      2610 Lamotte St

      PARKING LOT • 19,166 SF
      2610 Lamotte St, Wilmington, DE 19802
      View Details
    • Value Estimation
      $405,000
      10,302 SF

      900 30th St

      PARKING LOT • 10,302 SF
      900 30th St, Wilmington, DE 19802-3700
      View Details
    • Value Estimation
      $330,000
      1,014 SF

      1308 Nene Blvd

      GAS STATION • 1,014 SF
      1308 Nene Blvd, Wilmington, DE 19802-5114
      View Details

    Similar Nearby for Sale

    • $50,000
      0.06 Acres

      Wilmington Garages For Sale

      Seven garages in Wilmington, being sold as is.
      2714 Enterprise St, Wilmington, DE 19802
      View Details
    • $80,000

      Five Garages and One Lot

      Five garages and one lot with long-term tenants.
      37 Gordon St, Wilmington, DE 19802
      View Details
    • $375,000
      3,734 SF

      Downtown Wilmington Warehouse/Office Building

      Warehouse/office building in downtown Wilmington, close to I-495.
      1621 N Heald St, Wilmington, DE 19802
      View Details
    • $50,000

      Fully Rented Garages with Lot

      Garages with lot, fully rented, immediate cash flow.
      19 Gordon St, Wilmington, DE 19802
      View Details
    • $2,200,000
      20,500 SF

      Wilmington Waterfront Commercial Property

      Versatile 20,500 SF building, ideal for multiple uses.
      1601 Jessup St, Wilmington, DE 19802
      View Details
    • $750,000
      6,534 SF

      Retail Property on Market Street

      Retail property for sale with high traffic volume.
      2016 N Market St, Wilmington, DE 19802
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      650 SF

      Retail Space in Growing Neighborhood

      Retail space available in Wilmington, close to Interstate 495.
      2400 Northeast Blvd, Wilmington, DE 19802
      View Details
    • $20 SF/Yr
      900 SF

      Retail Space on Miller Road

      900 SF retail space available for lease.
      3209 Miller Rd, Wilmington, DE 19802
      View Details
    • $350,000

      Land Available For Lease

      Land for lease with flexible lease terms considered.
      1405 Todds Ln, Wilmington, DE 19802
      View Details
    • $6 SF/Yr
      127,229 SF

      Wilmington Industrial Space Available

      Flexible Warehouse Space in Delaware
      1400 Vandever Ave, Wilmington, DE 19802
      View Details
    • Contact for pricing
      82,628 SF

      Brandywine Industrial Center: Wilmington, DE

      82,628 SF Office/Warehouse For Lease
      1324 12Th St, Wilmington, DE 19802
      View Details
    • $12 SF/Yr
      2,398 SF

      Wilmington Warehouse Space Available

      Warehouse/Industrial space for lease in Wilmington, Delaware.
      1241-1255 E 16Th St, Wilmington, DE 19802
      View Details
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    Wilmington, DE 19802-2406
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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