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    Property profile & analytics

    651 N Broad St Middletown, DE 19709

    • Office Properties & Spaces
    • 19,035 SF
    • 10.58 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US17-0265367
    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

    • GB Tech Inc / Software Company
    • Kit's Marine Survey / Marine Surveyor
    • Bam Boom Cloud America / Accounting Software Company
    • Middletown Area Chamber of Commerce / Chamber Of Commerce
    • Cloudoon / Software Company / E-Commerce Service

    Property Details for 651 N Broad St

    Year built
    2006
    Construction
    ADOBE
    Lot size
    10.58 lot acres
    Property size
    19,035 SF
    Zone code
    23C-3
    Property type
    Office Properties & Spaces
    APN
    23-003.00-011
    APU
    2300300011

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,235,000
      6.5%
      $2,985,000
      7%
      $2,770,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,626,000
      Market price range: $1.39M - $3.63M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,335,000
      Current use
      RETAIL STORES
      $4,360,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    New Castle
    State
    Delaware
    Longitude
    -75.7178
    Latitude
    39.4562
    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
    2023
    $0.00
    $184,900
    $1,845,100
    $2,030,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,328 SF

      16 Broad St

      OFFICE (GENERAL) • 1,328 SF
      16 Broad St, Middletown, DE 19709-1061
      View Details
    • Value Estimation by Request
      1,440 SF

      479 Haveg Rd

      OFFICE (GENERAL) • 1,440 SF
      479 Haveg Rd, Middletown, DE 19709-1731
      View Details
    • Value Estimation by Request
      1,825 SF

      41 Main St

      OFFICE (GENERAL) • 1,825 SF
      41 Main St, Middletown, DE 19709-1017
      View Details
    • Value Estimation by Request
      3.11 Acres

      336 Brick Mill Rd

      Medical offices • 3.11 Acres
      336 Brick Mill Rd, Middletown, DE 19709
      View Details
    • Value Estimation by Request
      1,434 SF

      55 Main St

      OFFICE (GENERAL) • 1,434 SF
      55 Main St, Middletown, DE 19709-1017
      View Details
    • Value Estimation
      $580,000
      4,686 SF

      2093 Dupont Pkwy

      OFFICE (GENERAL) • 4,686 SF
      2093 Dupont Pkwy, Middletown, DE 19709
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.64 Acres

      Middletown Office Space for Lease

      Modern Office Suites, Ample Amenities
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    • Contact for pricing
      3,160 SF

      Middletown Medical Office Suite

      Medical office suite in well-maintained complex with ample parking.
      118 Sandhill Dr, Middletown, DE 19709
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    • $12,500,000
      52.00 Acres

      Middletown, DE Commercial Land - 52 Acres

      Prime 52-acre commercial parcel in Middletown, DE. Exceptional development opportunity.
      929 Middletown Warwick Rd, Middletown, DE 19709
      View Details
    • Contact for pricing
      14.90 Acres

      14.9 Acres Middletown Industrial Land

      Rare Delaware industrial land, rail-served.
      419 Boyds Corner Rd, Middletown, DE 19709
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    • Contact for pricing

      High-Traffic Location Retail Center

      Retail and commercial land for sale in Middletown, Delaware.
      Willow Grove Mill Dr, Middletown, DE 19709
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    • $899,000

      Middletown Specialty Property For Sale

      Specialty property available for purchase in Middletown, Delaware.
      448 Spring Hollow Dr, Middletown, DE 19709
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      4,716 SF

      Middletown Retail/Office Space For Rent

      1,500 SF unit in Middletown's growing business community.
      29 E Main St, Middletown, DE 19709
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    • $100 SF/Yr

      Office Space with 24/7 Access

      Office space for rent with included amenities and parking.
      651 N Broad St Sm, Middletown, DE 19709
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    • $14 SF/Yr
      40,000 SF

      Cricklewood Grove Office Suites

      Middletown, DE Office Space Available
      5350 Summit Bridge Rd, Middletown, DE 19709
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    • $22 SF/Yr
      15,066 SF

      Modern Office Suite For Rent

      Professional office suite available in Middletown, Delaware.
      222 Middletown, Middletown, DE 19709
      View Details
    • $21 SF/Yr
      20,853 SF

      Bunker Hill Center Office Space

      First floor office unit in Middletown, available Q2 2024.
      102 Sleepy Hollow Dr, Middletown, DE 19709
      View Details
    • $750 /Mo

      Middletown Office/Retail Space Available

      Office and retail space for rent in Middletown, Delaware.
      651 N Broad St Suite 106, Middletown, DE 19709
      View Details
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    651 N Broad St
    Middletown, DE 19709
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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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