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Property profile & analytics
OFF-MARKET
Estimated value
$3,960,000
Warehouses
701 Industrial Dr, Middletown, DE 19709-1085
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US17-0120870
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1983
Construction
STONE
Total area
45,360 SF
Lot
10.46 ac (455,638 SF)
Zoning code
23M-I
APN
23-010.00-041
UPID
US17-0120870
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
$5.44M
Comparable Approach
Comparable
$3.15M
Blend (final)
Blend
$3.96M
Owner & transaction history
Industrial Park LLC · 2 yrs held
Industrial Park LLC
since 2024
7 recorded transactions
Zoning & alternative use
23M-I · 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
by Request
CAP Approach
CAP Return
Estimation
6%
$5,890,000
6.5%
$5,435,000
7%
$5,045,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,230,000
Current use
Blend value · Realmo final
$3.96M
Range $3.56M – $4.36M · ±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
$87 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$49,260
Tax year 2024
Assessed value
$1,337,300
Assessed 2024
Previous assessed
$1,337,300
+0.0% YoY
Effective rate
3.68%
On assessed value
Assessed land
$156,900
Assessed improvement
$1,180,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1983
Construction
STONE
Heating
YES
Buildings
5
Stories
1
Total area
45,360 SF
Lot
10.46 ac (455,638 SF)
Zoning code
23M-I
APN
23-010.00-041
UPID
US17-0120870
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23M-I · Middletown, DE
Zoning 23M-I · permitted uses
23M-I · Middletown, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.2M
WAREHOUSE, STORAGE 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
1983
Construction
STONE
Heating
YES
Stories
1
Buildings
5
Lot
10.46 ac
Current owner
From public records · entity-resolved
Industrial Park LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1406 FORREST AVEB, DOVER, DE 19904-3398
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2025
—
Industrial Park LLC
—
Deed
related
$5,500,000 · The Queenstown Bank Of Maryland
Mar 14, 2024
—
Industrial Park LLC
Dover School LLC
Deed
—
Mar 4, 2024
—
Dover School LLC
701 Industrial Partners LLC
Deed
—
Jul 3, 2018
—
701 Industrial Partners LLC
701 Industrial Partners LLC
Quit Claim Deed
related
—
May 2, 2018
$1,800,000
701 Industrial Parters LLC
Macdermid INC
Grant Deed
—
—
—
Macdermid INC
—
Deed Of Trust
related
$510,000 · Credit Suisse Ag
—
—
Macdermid INC
—
Loan Modification
related
$2,088,161,600 · Barclays Bk/plc
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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