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    Property profile & analytics

    600 Colonial Ave Wilmington, DE 19805-1956

    • Warehouses
    • 9,800 SF
    • 0.84 lot acres
    OFF-MARKET
    Last Sale
    Apr 05, 2023
    Value Estimations
    $1,440,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0182491
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pala Tile & Carpet Contractors / General Contractor / Renovation Specialist

    Property Details for 600 Colonial Ave

    Year built
    1976
    Construction
    CONCRETE
    Lot size
    0.84 lot acres
    Property size
    9,800 SF
    Zone code
    19GI
    Property type
    Warehouses
    APN
    19-002.00-142
    APU
    1900200142

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,270,000
      6.5%
      $1,175,000
      7%
      $1,090,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,548,000
      Market price range: $701k - $1.55M
      AI Estimate
      $1,604,000
      Market price range: $447k - $1.60M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,190,000
      Current use
      RETAIL STORES
      $2,020,000
      Change: +70% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,515,000
      Change: +27% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5867
    Latitude
    39.7425
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $11,280
    $73,200
    $270,700
    $343,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $935,000
      13,676 SF

      230 Innovation Blvd

      WAREHOUSE, STORAGE • 13,676 SF
      230 Innovation Blvd, Wilmington, DE 19805-1578
      View Details
    • Value Estimation by Request
      2,375 SF

      204 Webb St

      WAREHOUSE, STORAGE • 2,375 SF
      204 Webb St, Wilmington, DE 19805-3313
      View Details
    • Value Estimation by Request
      1,928 SF

      1012 Lancaster Ave

      WAREHOUSE, STORAGE • 1,928 SF
      1012 Lancaster Ave, Wilmington, DE 19805-4007
      View Details
    • Value Estimation by Request
      1,134 SF

      1820 Conrad St

      MINI-WAREHOUSE, STORAGE • 1,134 SF
      1820 Conrad St, Wilmington, DE 19805-3409
      View Details
    • Value Estimation by Request
      2,548 SF

      5 Colonial Ave

      WAREHOUSE, STORAGE • 2,548 SF
      5 Colonial Ave, Wilmington, DE 19805-5201
      View Details
    • Value Estimation by Request
      800 SF

      310 Dupont St

      MINI-WAREHOUSE, STORAGE • 800 SF
      310 Dupont St, Wilmington, DE 19805-3562
      View Details

    Similar Nearby for Sale

    • $210,000
      1,650 SF

      Wilmington Industrial Shop - Great Potential

      1,650 sq ft, C-2 Zoned, Updated Industrial
      3 Cedar St, Wilmington, DE 19805
      View Details
    • $325,000
      0.17 Acres

      Wilmington Commercial Land - $325K

      0.17-acre lot, high-traffic location.
      2401 Lancaster Ave, Wilmington, DE 19805
      View Details
    • $999,900
      7,862 SF

      Wilmington Mixed-Use Investment

      7,862 SF Office/Retail Building, Delaware
      616 Union St, Wilmington, DE 19805
      View Details
    • $75,000
      0.03 Acres

      Vacant City Lot in Wilmington

      City lot ready for new construction near amenities.
      220 N Rodney St, Wilmington, DE 19805
      View Details
    • $60,000

      Land Parcel with Development Potential

      Expansive land parcel in a desirable location with development potential.
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    • $650,000

      Wilmington Investment Opportunity: Two Parcels

      Two joined parcels with shop space and paved lot for sale.
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    Similar Nearby for Lease

    • $14 SF/Yr
      10,000 SF

      Wilmington Office/Flex Space Available

      10,000 SF Multi-Use Building, 2,700 SF Vacant
      2510 6Th St, Wilmington, DE 19805
      View Details
    • Contact for pricing
      3,500 SF

      Retail/Flex Space with Drive-In

      Retail/flex space with drive-in access, suitable for various operations.
      912 N Union St, Wilmington, DE 19805
      View Details
    • $12 SF/Yr
      5,260 SF

      Office/Retail Space on Lancaster Pike

      5,260 SF office/retail space with high visibility.
      3401 Lancaster Pike, Wilmington, DE 19805
      View Details
    • $19 SF/Yr
      28,000 SF

      Wilmington Retail Space Available

      Prime Wilmington retail space, multiple units.
      516-534 Greenhill Ave, Wilmington, DE 19805
      View Details
    • Contact for pricing
      500 SF

      Retail Space with Display Windows

      500 SF retail space with storage and restroom.
      211 Maryland Ave, Wilmington, DE 19805
      View Details
    • Contact for pricing
      2,480 SF

      Wilmington Retail Spaces For Lease

      Retail spaces available in Wilmington, ranging from 1,600-10,000 SF.
      1914 Maryland Ave, Wilmington, DE 19805
      View Details
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    Wilmington, DE 19805-1956
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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