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Property profile & analytics
OFF-MARKET
Estimated value
$55,745,000
Warehouses
560 Merrimac Ave, Middletown, DE 19709-4652
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0240078
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2012
Construction
CONCRETE
Total area
516,600 SF
Lot
66.26 ac (2,886,286 SF)
Zoning code
23M-I
APN
23-042.00-003
UPID
US17-0240078
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
-
PHL7 - Amazon Fulfillment Center Warehouse & Storage
-
PHL9 - Amazon warehouse Warehouse & Storage
-
A-Z Warehouse & Storage
-
Integrity Staffing Solutions Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$61.90M
Comparable Approach
Comparable
$57.83M
Blend (final)
Blend
$55.75M
Owner & transaction history
560 Merrimac Owner LLC · 3 yrs held
560 Merrimac Owner LLC
since 2022
7 recorded transactions
Zoning & alternative use
23M-I · Middletown, 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 Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown 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%
$67,060,000
6.5%
$61,900,000
7%
$57,480,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$70,980,000
Current use
Blend value · Realmo final
$55.75M
Range $50.17M – $61.32M · ±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
$108 / 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
$904,997
Tax year 2024
Assessed value
$24,568,800
Assessed 2024
Previous assessed
$24,568,800
+0.0% YoY
Effective rate
3.68%
On assessed value
Assessed land
$2,481,200
Assessed improvement
$22,087,600
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2012
Construction
CONCRETE
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
516,600 SF
Lot
66.26 ac (2,886,286 SF)
Zoning code
23M-I
APN
23-042.00-003
UPID
US17-0240078
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23M-I · Middletown, DE
Zoning 23M-I · permitted uses
23M-I · Middletown, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$71.0M
WAREHOUSE, STORAGE Current
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
2012
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
66.26 ac
Current owner
From public records · entity-resolved
560 Merrimac Owner LLC
Entity
Mailing address
1660 INTERNATIONAL DR STE #500, MCLEAN, VA 22102-4854
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Aug 12, 2025
—
560 Merrimac Owner LLC
—
Deed
related
$99,250,000 · Sumitomo Mitsui Banking Corp
Jul 18, 2022
—
560 Merrimac Owner LLC
Delaware Circle 153 LLC
Deed
$107,000,000 · Fs Creit Originator LLC
Sep 28, 2020
—
Delaware Circle 153 LLC
—
Deed
related
$54,600,000 · Keb Hana Bk Ny Agcy
Oct 1, 2015
$2,730,000
Delaware Circle 153 LLC
Duke Realty LP
Deed
$54,600,000 · Keb Hana Bank New York Agency
Feb 10, 2012
—
Duke Realty LP
Mautom LLC
Grant Deed
—
Nov 23, 2005
$10
Mautom LLC
Cochran,charles M III
Grant Deed
$27,000,000 · Wilmington Trust Co
—
—
Delaware Circle 153 LLC
—
Loan Modification
related
$54,600,000 · Keb Hana Bk Ny Agcy
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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