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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Turn key restaurants
745 Middletown Warwick Rd, Middletown, DE 19709-9095
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US17-0257802
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2018
Construction
CONCRETE
Total area
3,800 SF
Lot
16.57 ac (721,789 SF)
Zoning code
23C-3
APN
23-049.00-038
UPID
US17-0257802
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
-
Metro Diner Restaurant
-
G'TChimney&DryerVentCleaning General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$545k
Blend (final)
Blend
$520k
Owner & transaction history
Ws Merrimac Center LLC · 10 yrs held
Ws Merrimac Center LLC
since 2015
5 recorded transactions
Zoning & alternative use
23C-3 · Middletown, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$590,000
+44.9%
Commercial (general)
$465,000
+14.0%
Auto repair, garage
$460,000
+12.6%
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
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$410,000
Current use
MEDICAL BUILDING
$590,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$465,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$460,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$340,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$137 / 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
$29,473
Tax year 2023
Assessed value
$952,600
Assessed 2023
Previous assessed
$952,600
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$360,900
Assessed improvement
$591,700
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2018
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
3,800 SF
Lot
16.57 ac (721,789 SF)
Zoning code
23C-3
APN
23-049.00-038
UPID
US17-0257802
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
23C-3 · Middletown, DE
Zoning 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
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$410,000
MEDICAL BUILDING
Est. value
$590,000
COMMERCIAL (GENERAL)
Est. value
$465,000
AUTO REPAIR, GARAGE
Est. value
$460,000
RETAIL STORES
Est. value
$340,000
RESTAURANT Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2018
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
16.57 ac
Current owner
From public records · entity-resolved
Ws Merrimac Center LLC
Entity
Mailing address
4120 CONCORD PIKE STE D, WILMINGTON, DE 19803-5401
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2024
—
Ws Merrimac Center LLC
—
Deed
related
$3,450,000 · Artisans Bank
Sep 10, 2018
—
Ws Merrimac Center LLC
—
Deed
related
$650,000 · Republic First Bank
Jun 14, 2017
—
Ws Merrimac Center LLC
—
Deed
related
$4,250,000 · Republic First Bank
Oct 29, 2015
—
Ws Merrimac Center LLC
Westown Retail II 42 Acres LLC
Grant Deed
—
Oct 9, 2012
$1,521,000
Westown Retail II 42 Acres LLC
Kohl West LLC
Deed
—
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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