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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Turn key restaurants
401 Philadelphia Pike Wilmington, DE 19809-2152
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US17-0009648
Property summary
AI-generated overview
This exceptional retail opportunity is located at 401 Philadelphia Pike in Wilmington, Delaware, within the vibrant Claymont community. The property offers three available spaces, ranging in size from 566 square feet to 1,435 square feet, perfect for a variety of retail or office uses. Situated in New Castle County, zip code 19809, this prime location boasts exceptional visibility and high traffic volume, ensuring consistent customer flow. The property's strategic positioning within a bustling area attracts both local residents and visitors, providing an ideal environment for business growth. This multi-tenant building presents a chance to establish or expand your business in a thriving Delaware community. The property is classified as retail with office subtype. Interested parties should inquire for specific lease terms and availability details for each of the three individual spaces. The address is easily accessible and benefits from strong local foot traffic and visibility from Philadelphia Pike. This is a unique opportunity to secure a prominent retail presence in a high-demand area.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1985
Construction
CONCRETE
Total area
2,568 SF
Lot
1.69 ac (73,616 SF)
Zoning code
CN
APN
06-139.00-133
UPID
US17-0009648
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
-
WSFS ATM Atm
-
Murph's Irish Pub Bar & Pub Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$385k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$616k
Blend (final)
Blend
$500k
Owner & transaction history
Elk Creek LLC · 8 yrs held
Elk Creek LLC
since 2017
7 recorded transactions
Zoning & alternative use
CN · Wilmington, DE
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
$385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$440,000
Current use
MEDICAL BUILDING
$430,000
Change: -3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$380,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$195 / 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
$14,014
Tax year 2023
Assessed value
$398,300
Assessed 2023
Previous assessed
$398,300
+0.0% YoY
Effective rate
3.52%
On assessed value
Assessed land
$131,900
Assessed improvement
$266,400
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
1985
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
2,568 SF
Lot
1.69 ac (73,616 SF)
Zoning code
CN
APN
06-139.00-133
UPID
US17-0009648
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
CN · Wilmington, DEZoning CN · permitted uses
CN · Wilmington, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$440,000
MEDICAL BUILDING
Est. value
$430,000
COMMERCIAL (GENERAL)
Est. value
$380,000
RESTAURANT Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1985
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
1.69 ac
Current owner
From public records · entity-resolved
Elk Creek LLC
Entity
Mailing address
701 FOULK RD STE 1A, WILMINGTON, DE 19803-3733
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2026
—
Elk Creek LLC
—
Deed
related
$1,000,000 · First Citizens Community Bank
Jun 16, 2025
—
Elk Creek LLC
—
Deed
related
$500,000 · First Citizens Community Bank
Nov 19, 2018
—
Elk Creek LLC
—
Deed
related
$200,000 · M & T Bank
Aug 8, 2018
—
Elk Creek LLC
—
Deed
related
$9,548,000 · M & T Bank
Oct 10, 2017
—
Elk Creek LLC
Penny Hill Shopping Center LLC
Deed
$1,550,000 · Wilmington Savings Fund Society Fsb
Dec 8, 2014
—
Penny Hill Shopping Center LLC
August,cheryl S
Grant Deed
—
May 2, 2006
$1,250,000
Cheryl S August
Papili Investments LP
Deed
$960,000 · Interbay Funding LLC
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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