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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Bars & Pubs
500 Market St Wilmington, DE 19801-3005
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0506278
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1873
Construction
CONCRETE
Total area
13,376 SF
Lot
0.31 ac (13,504 SF)
Zoning code
26C-3
APN
26-035.40-076
UPID
US17-0506278
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
-
The Queen Theater & Performing Art Venue Music Venue
-
The Knight's Bar Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$665k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$665k
Owner & transaction history
500 Market LLC · 18 yrs held
500 Market LLC
since 2007
7 recorded transactions
Zoning & alternative use
26C-3 · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$665,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$970,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$685,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$50 / 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
$46,882
Tax year 2023
Assessed value
$1,300,000
Assessed 2023
Previous assessed
$1,300,000
+0.0% YoY
Effective rate
3.61%
On assessed value
Assessed land
$270,100
Assessed improvement
$1,029,900
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
1873
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
6
Stories
4
Total area
13,376 SF
Lot
0.31 ac (13,504 SF)
Zoning code
26C-3
APN
26-035.40-076
UPID
US17-0506278
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
26C-3 · Wilmington, DE
Zoning 26C-3 · permitted uses
26C-3 · 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
WAREHOUSE, STORAGE
Est. value
$970,000
INDUSTRIAL (GENERAL)
Est. value
$685,000
WAREHOUSE, STORAGE
INDUSTRIAL (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
1873
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
4
Buildings
6
Lot
0.31 ac
Current owner
From public records · entity-resolved
500 Market LLC
Entity
Mailing address
1000 NW ST STE #900, WILMINGTON, DE 19801-1000
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2021
—
500 Market LLC
—
Deed
related
$3,250,000 · Wilmington Savings Fund Society Fsb
Oct 2, 2020
—
500 Market LLC
—
Deed
related
$4,931,893 · National Council On Agricultur
Jun 22, 2020
—
500 Market LLC
—
Deed
related
$4,931,893 · National Council On Agricultur
Jun 27, 2019
—
500 Market LLC
—
Deed
related
$3,264,796 · National Council On Agricultur
Jan 31, 2017
—
500 Market LLC
—
Grant Deed
related
$5,300,000 · National Council On Agricultur
Aug 17, 2009
—
500 Market LLC
—
Deed Of Trust
related
$5,713,429 · Queen Theater Master Tenant Ll
Oct 5, 2007
$2,900,000
500 Market LLC
Queen Theatre LLC
Deed
$21,100,000 · Anglo Irish Bank Corp Plc
Oct 1, 2007
—
Georgetown Sc LLC
Georgetown Sc LLC
Quit Claim Deed
—
Jan 10, 2005
$2,000,000
Georgetown Sc LLC
Hatzis,thomas G
Grant Deed
—
—
—
500 Market LLC
—
Loan Modification
related
$3,264,796 · National Council On Agricultur
—
—
500 Market LLC
—
Deed Of Trust
related
$4,086,571 · Brownfield Revitalization IV L
—
—
Up The Queen Foundation Light
—
Deed Of Trust
related
$3,000,000 · City Of Wilmington
—
—
500 Market LLC
—
Loan Modification
related
$4,931,893 · National Council On Agricultur
—
—
500 Market LLC
—
Loan Modification
related
$4,931,893 · National Council On Agricultur
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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