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Property profile & analytics
OFF-MARKET
Estimated value
$3,040,000
Office Spaces
7234 Lancaster Pike Hockessin, DE 19707-9295
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US17-0216049
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1991
Construction
CONCRETE
Total area
14,338 SF
Lot
2.87 ac (125,017 SF)
Zoning code
ON
APN
08-008.30-143
UPID
US17-0216049
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
-
LINDA HANNA, Patterson-Schwartz Real Estate Agency
-
Patterson-Schwartz Real Estate (Hockessin) Real Estate Agency
-
Delaware School of Real Estate Vocational School Training Center
-
Hockessin Water Heater Pros Plumbing Service General Contractor
-
Farnan Real Estate - A Patterson-Schwartz Real Estate Agency Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.25M
Comparable Approach
Comparable
$2.67M
Blend (final)
Blend
$3.04M
Owner & transaction history
Hockessin Office Park Joint Venture · 13 yrs held
Hockessin Office Park Joint Venture
since 2013
2 recorded transactions
Zoning & alternative use
ON · Hockessin, 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 Hockessin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hockessin 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%
$2,435,000
6.5%
$2,250,000
7%
$2,085,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,020,000
Current use
RETAIL STORES
$3,285,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$3.04M
Range $2.74M – $3.34M · ±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
$212 / 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
$85,980
Tax year 2023
Assessed value
$2,605,600
Assessed 2023
Previous assessed
$2,605,600
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$312,500
Assessed improvement
$2,293,100
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1991
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
3
Total area
14,338 SF
Lot
2.87 ac (125,017 SF)
Zoning code
ON
APN
08-008.30-143
UPID
US17-0216049
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
ON · Hockessin, DE
Zoning ON · permitted uses
ON · Hockessin, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hockessin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.0M
RETAIL STORES
Est. value
$3.3M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1991
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
3
Lot
2.87 ac
Current owner
From public records · entity-resolved
Hockessin Office Park Joint Venture
Entity
Mailing address
7234 LANCASTER PIKE STE 210B, HOCKESSIN, DE 19707-8751
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2020
—
Hockessin Office Park Joint Venture
—
Deed
related
$3,150,000 · Wilmington Savings Fund Society Fsb
Apr 4, 2013
—
Hockessin Office Park Joint Venture
Hockessin Office Park Joint Venture
Intrafamily Transfer
related
$3,100,000 · 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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