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Property profile & analytics
OFF-MARKET
Estimated value
$4,795,000
Office Spaces
4401 Lancaster Pike Wilmington, DE 19805-1523
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US17-0220477
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1984
Construction
CONCRETE
Total area
28,848 SF
Lot
12.47 ac (543,193 SF)
Zoning code
OR
APN
07-033.30-072
UPID
US17-0220477
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
-
Ithaka Early Learning Center High School Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.53M
Comparable Approach
Comparable
$5.58M
Blend (final)
Blend
$4.80M
Owner & transaction history
Wegmans Food Markets INC · 3 yrs held
Wegmans Food Markets INC
since 2023
4 recorded transactions
Zoning & alternative use
OR · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.9M
+33.5%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$4,900,000
6.5%
$4,525,000
7%
$4,200,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,455,000
Current use
RETAIL STORES
$5,945,000
Change: +33% · Conversion: Easy
Blend value · Realmo final
$4.80M
Range $4.32M – $5.27M · ±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
$166 / 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
Assessed value
$9,764,700
Assessed 2023
Previous assessed
$9,764,700
+0.0% YoY
Assessed land
$748,200
Assessed improvement
$9,016,500
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
3
Stories
2
Total area
28,848 SF
Lot
12.47 ac (543,193 SF)
Zoning code
OR
APN
07-033.30-072
UPID
US17-0220477
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
OR · Wilmington, DE
Zoning OR · permitted uses
OR · 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
COMMERCIAL (GENERAL) Current
Est. value
$4.5M
RETAIL STORES
Est. value
$5.9M
COMMERCIAL (GENERAL) Current
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
1984
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Lot
12.47 ac
Current owner
From public records · entity-resolved
Wegmans Food Markets INC
Entity
Mailing address
1500 BRKS AVE, ROCHESTER, NY 14624-3512
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2023
—
Odyssey Charter School INC
—
Deed
related
$41,415,015 · Equitable Facilities Fund INC
Jan 11, 2023
—
Wegmans Food Markets INC
Bmp Weg LLC
Lease
—
Feb 18, 2015
—
Odyssey Charter School INC
Barley Mill LLC
Deed
—
Sep 28, 2007
—
Barley Mill LLC
E I Du Pont De Nemours
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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