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Property profile & analytics
OFF-MARKET
Office Spaces
569 Pigeon Pt Rd, New Castle, DE 19720-1409
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0211673
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1982
Construction
CONCRETE
Total area
1,260 SF
Lot
7.07 ac (307,969 SF)
Zoning code
HI
APN
10-006.00-005
UPID
US17-0211673
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Department Of Transportation · 8 yrs held
Department Of Transportation
since 2018
7 recorded transactions
Zoning & alternative use
HI · New Castle, 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 New Castle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Castle 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$8,958
Tax year 2023
Assessed value
$292,400
Assessed 2023
Previous assessed
$292,400
+0.0% YoY
Effective rate
3.06%
On assessed value
Assessed land
$209,400
Assessed improvement
$83,000
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
1982
Construction
CONCRETE
Heating
YES
Buildings
3
Stories
2
Total area
1,260 SF
Lot
7.07 ac (307,969 SF)
Zoning code
HI
APN
10-006.00-005
UPID
US17-0211673
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
HI · New Castle, DE
Zoning HI · permitted uses
HI · New Castle, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Castle. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1982
Construction
CONCRETE
Heating
YES
Stories
2
Buildings
3
Lot
7.07 ac
Current owner
From public records · entity-resolved
Department Of Transportation
Entity
Mailing address
529 TERMINAL AVE, NEW CASTLE, DE 19720-1426
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2024
—
Pigeon Point Rd LLC
—
Deed
related
$750,000,000 · Wilmington Trust NA
Oct 2, 2019
—
Pigeon Point Rd LLC
—
Grant Deed
related
$36,000,000 · Wilmington Svgs Fund Society F
Jun 25, 2018
—
Department Of Transportation
Pigeon Point Rd LLC
Grant Deed
related
—
Feb 3, 2017
—
Port Ventures LLC
—
Loan Modification
related
$2,384,285 · Wilmington Svg Fund Societyfsb
Oct 22, 2010
$1,750,000
Pigeon Point Rd LLC
Pennsy Supply INC
Special Warranty Deed
$1,000,000 · Wilmington Savings Fund Society Fsb
Jan 10, 2005
—
Pennsy Supply INC
Owner,record
Grant Deed
related
—
Apr 2, 2004
$10
Pennsy Supply INC
G & L Holdings INC
Grant Deed
related
—
—
—
Port Contractors INC
—
Loan Modification
related
$362,000 · Wilmington Svg Fund Societyfsb
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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