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Property profile & analytics
FOR LEASE
Commercial land
851 Middletown Warwick Rd Middletown, DE 19709
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0320293
For Lease
Contact for pricing
851 Middletown Warwick Rd, Middletown, DE 19709
View Listing →
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
2.31 ac (100,624 SF)
Zoning code
23C-3
APN
23-065.00-019
UPID
US17-0320293
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Shah Mwl LLC · 1 yrs held
Shah Mwl LLC
since 2024
3 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,557
Tax year 2023
Assessed value
$50,300
Assessed 2023
Effective rate
3.10%
On assessed value
Assessed land
$50,300
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Lot
2.31 ac (100,624 SF)
Zoning code
23C-3
APN
23-065.00-019
UPID
US17-0320293
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.
Building & site characteristics
From public records
Lot
2.31 ac
Current owner
From public records · entity-resolved
Shah Mwl LLC
Entity
Mailing address
2710 CENTERVILLE RD STE #200, WILMINGTON, DE 19808-1664
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2025
—
Shah Mwl LLC
—
Deed
related
$5,512,500 · Wilmington Savings Fund Society Fsb
Nov 12, 2024
—
Shah Mwl LLC
Levels Crossing Lots 1 And 2 LLC
Deed
$1,775,000 · Levels Crossing Lots 1 And 2 LLC
Nov 7, 2024
—
Levels Crossing Lots1 And 2 LLC
841 Mwr LLC
Special Warranty 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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