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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    706 Philadelphia Pike Wilmington, DE 19809-2546

    • Office Properties & Spaces
    • 3,104 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    8.7%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US17-0496507
    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

    • Tesla Realty Group LLC / Real Estate Agency
    • Gary Bright, Realtor / Real Estate Agency
    • Priscilla Aidoo Yeboah / Real Estate Agency
    • Gary Bright Real Estate Agent / Real Estate Agency
    • Trash Pros LLC / Waste Management Facility / Hazardous Waste Disposal

    Property Details for 706 Philadelphia Pike

    Year built
    1976
    Construction
    CONCRETE
    Lot size
    0.15 lot acres
    Property size
    3,104 SF
    Zone code
    17MX2
    Property type
    Office Properties & Spaces
    APN
    17-001.00-099
    APU
    1700100099

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $525,000
      6.5%
      $485,000
      7%
      $450,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $561,000
      Market price range: $160k - $701k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $640,000
      Current use
      RETAIL STORES
      $640,000
      Change: -0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Castle
    State
    Delaware
    Longitude
    -75.5008
    Latitude
    39.7701
    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
    $9,689
    $22,900
    $255,200
    $278,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,060,000
      5,402 SF

      198 Hay Rd

      OFFICE (GENERAL) • 5,402 SF
      198 Hay Rd, Wilmington, DE 19809-3511
      View Details
    • Value Estimation
      $4,445,000
      19,040 SF

      200 Bellevue Pkwy

      OFFICE (GENERAL) • 19,040 SF
      200 Bellevue Pkwy, Wilmington, DE 19809-3727
      View Details
    • Value Estimation by Request
      1,984 SF

      310 Brandywine Blvd

      OFFICE (GENERAL) • 1,984 SF
      310 Brandywine Blvd, Wilmington, DE 19809
      View Details
    • Value Estimation
      $4,480,000
      19,198 SF

      1100 Carr Rd

      OFFICE (GENERAL) • 19,198 SF
      1100 Carr Rd, Wilmington, DE 19809-1610
      View Details
    • Value Estimation
      $3,985,000
      21,350 SF

      100 Bellevue Pkwy

      OFFICE (GENERAL) • 21,350 SF
      100 Bellevue Pkwy, Wilmington, DE 19809-3700
      View Details
    • Value Estimation by Request
      1,480 SF

      250 Philadelphia Pike

      OFFICE (GENERAL) • 1,480 SF
      250 Philadelphia Pike, Wilmington, DE 19809-3125
      View Details

    Similar Nearby for Sale

    • $749,900
      4,250 SF

      Wilmington Office Building For Sale

      Modern Office, High Visibility, Move-In Ready
      824 Philadelphia Pike, Wilmington, DE 19809
      View Details
    • Contact for pricing
      50,000 SF

      Class A Office Space Available

      Premier office space in North Wilmington with highway access.
      405 Silverside Rd, Wilmington, DE 19809
      View Details
    • $129,000

      Wilmington Apartment for Sale

      Apartment in Wilmington, DE, available for purchase.
      1100 Lore Ave, Wilmington, DE 19809
      View Details
    • Contact for pricing
      1,912 SF

      Retail Property on Philadelphia Pike

      Retail property available for sale in Wilmington, Delaware.
      1810 Philadelphia Pike, Wilmington, DE 19809
      View Details
    • $180,000

      Specialty Property For Sale

      Specialty property available for purchase.
      13 S Rodney Dr, Wilmington, DE 19809
      View Details
    • Contact for pricing
      0.80 Acres

      Highly Visible Wilmington Lot

      Prime Development Land, 0.8 Acres
      1101 Philadelphia Pike, Wilmington, DE 19809
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      305,459 SF

      Bellevue Park Corporate Center Office Space

      Prime Office Space, Delaware; Abundant Parking.
      300 Bellevue Pkwy, Wilmington, DE 19809
      View Details
    • Contact for pricing
      50,000 SF

      Silverside Carr Executive Suites

      Class A Wilmington Office Space Available
      405 Silverside Rd, Wilmington, DE 19809
      View Details
    • Contact for pricing
      52,541 SF

      Rockwood Office Park: Carr Road Suites

      Executive Suites, Wilmington, DE. Prime Location.
      501 Carr Rd, Wilmington, DE 19809
      View Details
    • $26 SF/Yr
      27,582 SF

      Edgemoor Office Suites

      Delaware Executive Office Space Available
      6 Denny Rd, Edgemoor, DE 19809
      View Details
    • Contact for pricing
      11,409 SF

      Office Space with Park-Like Setting

      Office property for rent with new finishes and HVAC systems.
      501 Carr Rd, Wilmington, DE 19809
      View Details
    • Contact for pricing
      17,274 SF

      Class A Office Space Available

      Prime Wilmington location with easy access to transportation and amenities.
      300 Delaware Ave, Wilmington, DE 19809
      View Details
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    Wilmington, DE 19809-2546
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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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