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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Manufacturing properties
465 Corporate Blvd, Newark, DE 19702-3331
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US17-0252065
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1997
Construction
CONCRETE
Total area
10,000 SF
Lot
5.51 ac (240,016 SF)
Zoning code
BP
APN
11-021.00-049
UPID
US17-0252065
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
-
Precision Air Convey Corporation Industrial Manufacturer Factory
-
Emory Hill Real Estate Services Real Estate Agency
-
Envac North America Waste Management Facility Hazardous Waste Disposal
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$670k
CAP Approach
CAP
$865k
Comparable Approach
Comparable
$690k
Blend (final)
Blend
$680k
Owner & transaction history
Pencader Corporate Partners LLC · 14 yrs held
Pencader Corporate Partners LLC
since 2012
3 recorded transactions
Zoning & alternative use
BP · Newark, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$945,000
+115.4%
Warehouse, storage
$490,000
+12.4%
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
$670,000
CAP Approach
CAP Return
Estimation
6%
$940,000
6.5%
$865,000
7%
$805,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$440,000
Current use
AUTO REPAIR, GARAGE
$945,000
Change: +115% · Conversion: Easy
WAREHOUSE, STORAGE
$490,000
Change: +12% · Conversion: Easy
RETAIL STORES
$420,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$68 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$37,957
Tax year 2024
Assessed value
$891,400
Assessed 2024
Previous assessed
$891,400
+0.0% YoY
Effective rate
4.26%
On assessed value
Assessed land
$192,900
Assessed improvement
$698,500
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1997
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
10,000 SF
Lot
5.51 ac (240,016 SF)
Zoning code
BP
APN
11-021.00-049
UPID
US17-0252065
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
BP · Newark, DE
Zoning BP · permitted uses
BP · Newark, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newark. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$440,000
AUTO REPAIR, GARAGE
Est. value
$945,000
WAREHOUSE, STORAGE
Est. value
$490,000
RETAIL STORES
Est. value
$420,000
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1997
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
5.51 ac
Current owner
From public records · entity-resolved
Pencader Corporate Partners LLC
Entity
Mailing address
465 CORPORATE BLVD, NEWARK, DE 19702-3331
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
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
Nov 10, 2025
—
Pencader Corporate Partners LLC
—
Deed
related
$2,425,000 · Wilmington Savings Fund Society Fsb
May 10, 2012
$850,000
Pencader Corporate Partners LLC
Pencader X LLC
Deed
$920,000 · M & T Bank
—
—
Pencader Corp Partners LLC
—
Deed Of Trust
related
$759,000 · Delaware Community Dev Corp
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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