Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Hotels
402 Ogletown Rd Newark, DE 19711-5402
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0436802
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2018
Construction
BRICK
Total area
9,301 SF
Zoning code
18BC
APN
18-021.00-145-C0001
UPID
US17-0436802
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
-
SpringHill Suites Newark Downtown Hotel & Motel
-
hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$720k
CAP Approach
CAP
$795k
Comparable Approach
Comparable
$816k
Blend (final)
Blend
$805k
Owner & transaction history
Danneman Hospitality LLC · 6 yrs held
Danneman Hospitality LLC
since 2019
2 recorded transactions
Zoning & alternative use
18BC · Newark, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
BILL NO
Top alternative use upside
Restaurant
$1.0M
+74.0%
Retail stores
$1.0M
+67.1%
Auto repair, garage
$875,000
+46.2%
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
by Request
ML approach
$720,000
CAP Approach
CAP Return
Estimation
6%
$860,000
6.5%
$795,000
7%
$740,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$600,000
Current use
RESTAURANT
$1,045,000
Change: +74% · Conversion: Difficult
RETAIL STORES
$1,005,000
Change: +67% · Conversion: Difficult
AUTO REPAIR, GARAGE
$875,000
Change: +46% · Conversion: Difficult
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$87 / 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
$137,889
Tax year 2023
Assessed value
$3,800,000
Assessed 2023
Previous assessed
$3,800,000
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$175,500
Assessed improvement
$3,624,500
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2018
Construction
BRICK
Heating
YES
Cooling
YES
Buildings
2
Stories
5
Total area
9,301 SF
Zoning code
18BC
APN
18-021.00-145-C0001
UPID
US17-0436802
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
18BC · Newark, DEZoning 18BC · permitted uses
18BC · Newark, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
BILL NO
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$600,000
RESTAURANT
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$875,000
HOTEL/MOTEL Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
2018
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
5
Buildings
2
Current owner
From public records · entity-resolved
Danneman Hospitality LLC
Entity
Mailing address
3411 SILVERSIDE RD BLDG STE108, WILMINGTON, DE 19810-4812
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2019
—
Danneman Hospitality LLC
—
Deed
related
$20,500,000 · Natixis Real Estate Capital LLC
Aug 27, 2019
—
Danneman Hospitality LLC
—
Grant Deed
related
$20,500,000 · Natixis R/e Cap 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 402 Ogletown Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
