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Property profile & analytics
OFF-MARKET
Estimated value
$1,930,000
Community centers
657 Middletown Warwick Rd Middletown, DE 19709-9639
Entity Owned
10-yr Hold
Property ID
US17-0060503
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2015
Construction
BRICK
Total area
74,313 SF
Lot
10.81 ac (470,884 SF)
Zoning code
23C-3
APN
23-022.00-187
UPID
US17-0060503
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
-
Chipotle Mexican Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.61M
Blend (final)
Blend
$1.93M
Owner & transaction history
Ws Midcenter LLC · 10 yrs held
Ws Midcenter LLC
since 2016
7 recorded transactions
Zoning & alternative use
23C-3 · 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
$1,255,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,615,000
Current use
Blend value · Realmo final
$1.93M
Range $1.74M – $2.12M · ±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
$26 / 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
$101,467
Tax year 2023
Assessed value
$3,294,700
Assessed 2023
Previous assessed
$3,294,700
+0.0% YoY
Effective rate
3.08%
On assessed value
Assessed land
$174,600
Assessed improvement
$3,120,100
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
2015
Construction
BRICK
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Total area
74,313 SF
Lot
10.81 ac (470,884 SF)
Zoning code
23C-3
APN
23-022.00-187
UPID
US17-0060503
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23C-3 · Middletown, DEZoning 23C-3 · permitted uses
23C-3 · Middletown, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.6M
NEIGHBORHOOD: SHOPPING CENTER 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
2015
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Lot
10.81 ac
Current owner
From public records · entity-resolved
Ws Midcenter LLC
Entity
Mailing address
105 FOULK RD, WILMINGTON, DE 19803-3740
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2016
—
Ws Midcenter LLC
—
Deed
related
$16,000,000 · Rialto Mortgage Finance LLC
May 18, 2016
—
Ws Midcenter LLC
Ws Midbox LLC
Quit Claim Deed
—
Jan 29, 2014
—
Ws Midbox LLC
West Side Retail LLC
Grant Deed
—
Oct 15, 2013
—
West Side Retail LLC
Westown I Retail 27 Acres LLC
Quit Claim Deed
—
Oct 9, 2012
$1,200,000
Westown I Retail 27 Acres LLC
Westown Town Center LLC
Deed
—
May 10, 2007
—
Westown Town Center LLC
Charles E Owensby
Deed
$5,000,000 · Wilmington Trust Co
May 10, 2007
$10
Westown Town Center LLC
Owensby,charles E
Grant Deed
—
—
—
Ws Midbox LLC
—
Deed Of Trust
related
$2,500,000 · Metro Bk
—
—
Ws Midbox LLC
—
Deed Of Trust
related
$11,000,000 · Metro Bk
—
—
Ws Midbox LLC
—
Deed Of Trust
related
$2,500,000 · Metro Bk
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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