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Property profile & analytics
OFF-MARKET
Estimated value
$4,155,000
Warehouses
730 Hedgelawn Way Middletown, DE 19709-1724
Entity Owned
8-yr Hold
Absentee Owner
Property ID
US17-0121629
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2020
Construction
STONE
Total area
34,450 SF
Lot
4.62 ac (201,247 SF)
Zoning code
23M-I
APN
23-065.00-009
UPID
US17-0121629
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
$4.87M
Comparable Approach
Comparable
$3.95M
Blend (final)
Blend
$4.16M
Owner & transaction history
Three Keys Storage LLC · 8 yrs held
Three Keys Storage LLC
since 2017
4 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%
$5,275,000
6.5%
$4,870,000
7%
$4,520,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,735,000
Current use
Blend value · Realmo final
$4.16M
Range $3.74M – $4.57M · ±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
$121 / 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
$91,027
Tax year 2024
Assessed value
$2,471,200
Assessed 2024
Previous assessed
$2,471,200
+0.0% YoY
Effective rate
3.68%
On assessed value
Assessed land
$201,200
Assessed improvement
$2,270,000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2020
Construction
STONE
Heating
YES
Cooling
YES
Stories
3
Total area
34,450 SF
Lot
4.62 ac (201,247 SF)
Zoning code
23M-I
APN
23-065.00-009
UPID
US17-0121629
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
$4.7M
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
2020
Construction
STONE
Heating
YES
Cooling
Yes
Stories
3
Lot
4.62 ac
Current owner
From public records · entity-resolved
Three Keys Storage LLC
Entity
Mailing address
940 W SPROUL RD STE #301, SPRINGFIELD, PA 19064-1255
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Nov 16, 2021
—
Three Keys Storage LLC
—
Deed
related
$9,000,000 · Provident Bank
Oct 24, 2018
—
Three Keys Storage LLC
—
Grant Deed
related
$7,100,000 · M&t Bk
Jul 18, 2017
$985,000
Three Keys Storage LLC
Westown Bp 60 Acres LLC
Grant Deed
—
Oct 9, 2012
$1,000,000
Westown Bp 60 Acres LLC
Kohlprop South 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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