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Property profile & analytics
OFF-MARKET
Estimated value
$365,000
Drive through restaurants
701 Rdg Ave Middletown, DE 19709-4653
Individually Owned
Free & Clear
Property ID
US17-0296730
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2012
Construction
CONCRETE
Total area
4,821 SF
Lot
2.02 ac (87,991 SF)
Zoning code
23C-3
APN
23-022.00-197
UPID
US17-0296730
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
-
Chick-fil-A Take-out & Catering Catering Service
-
K'UChimney&DryerVentCleaning General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$365k
Owner & transaction history
Michael Vasiliades
Michael Vasiliades
since 2025
4 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
$365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$365k
Range $329k – $402k · ±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
$76 / 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
$6,976
Tax year 2023
Assessed value
$225,400
Assessed 2023
Previous assessed
$225,400
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$88,000
Assessed improvement
$137,400
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2012
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
1
Total area
4,821 SF
Lot
2.02 ac (87,991 SF)
Zoning code
23C-3
APN
23-022.00-197
UPID
US17-0296730
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
Building & site characteristics
From public records
Year built
2012
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
2.02 ac
Current owner
From public records · entity-resolved
Michael Vasiliades
Individual
Free & Clear · 0 yrs held
Mailing address
5200 BUFFINGTON RD, ATLANTA, GA 30349-2945
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2025
—
Michael Vasiliades
Kohls INC
Deed
—
Jul 29, 2016
$2,407,058
Montt Middletown LLC
Responsible Land Holdings Midd
Grant Deed
—
Dec 28, 2012
$1,520,000
Responsible Land Holdings Middletow
Westown Retail II LLC
Deed
$1,140,000 · Td Bank NA
Oct 9, 2012
$421,000
Westown Retail II LLC
Westown Town Center LLC
Deed
$42,750 · M & T Bank
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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