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Property profile & analytics
OFF-MARKET
Estimated value
$3,140,000
Hotels
700 King St Wilmington, DE 19801-3504
Entity Owned
2-yr Hold
Free & Clear
Property ID
US17-0505276
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1979
Construction
ADOBE
Total area
61,748 SF
Lot
2.11 ac (91,912 SF)
Zoning code
26C-4
APN
26-035.40-149-T0002
UPID
US17-0505276
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
-
DoubleTree by Hilton Hotel Downtown Wilmington - Legal District Hotel & Motel
-
Attic Animal Pest Wilmington Bird Control Service
-
Double Tree Parking Lot & Garage
-
Customs House/Courthouse Square Garage Parking Lot & Garage
-
Metro Lounge Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.31M
Blend (final)
Blend
$3.14M
Owner & transaction history
700 King St LLC · 2 yrs held
700 King St LLC
since 2024
5 recorded transactions
Zoning & alternative use
26C-4 · Wilmington, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$4.5M
+8.4%
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 Wilmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wilmington 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$4,125,000
Current use
WAREHOUSE, STORAGE
$4,470,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$3.14M
Range $2.83M – $3.45M · ±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
$51 / 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
$306,016
Tax year 2023
Assessed value
$8,485,600
Assessed 2023
Previous assessed
$8,485,600
+0.0% YoY
Effective rate
3.61%
On assessed value
Assessed land
$3,867,400
Assessed improvement
$4,618,200
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1979
Construction
ADOBE
Heating
YES
Cooling
YES
Stories
9
Total area
61,748 SF
Lot
2.11 ac (91,912 SF)
Zoning code
26C-4
APN
26-035.40-149-T0002
UPID
US17-0505276
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
26C-4 · Wilmington, DE
Zoning 26C-4 · permitted uses
26C-4 · Wilmington, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wilmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$4.1M
WAREHOUSE, STORAGE
Est. value
$4.5M
HOTEL/MOTEL Current
WAREHOUSE, STORAGE
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
1979
Construction
ADOBE
Heating
YES
Cooling
Yes
Stories
9
Lot
2.11 ac
Current owner
From public records · entity-resolved
700 King St LLC
Entity
Free & Clear · 2 yrs held
Mailing address
700 N KING ST, WILMINGTON, DE 19801-3504
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2024
—
700 King St LLC
700 North King Street Wilmington Ll
Intrafamily Transfer
related
—
Aug 16, 2012
—
700 North King LLC
—
Deed Of Trust
related
$42,000,000 · Natixis Real Estate Cap LLC
Sep 8, 2011
—
700 North King LLC
Tf-wilmington Hotel LLC
Grant Deed
—
Jun 2, 2010
—
Tf-wilmington Hotel LLC
Wilmington Hotel Assocs LLC
Deed In Lieu Of Foreclosure
related
—
Jun 10, 2005
$16,560,000
Wilmington Hotel Associates LLC
Oxford Hpc Wilmington Property Co L
Special Warranty Deed
$16,485,000 · Texans Commercial Capital LLC
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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