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Property profile & analytics
FOR LEASE
Day care centers
908 Churchmans Road Ext New Castle, DE 19720
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0320745
For Lease
1 / 2
$16.50 SF/Yr
908 Churchmans Road Ext, New Castle, DE 19720
View Listing →
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
2009
Construction
CONCRETE
Total area
7,176 SF
Lot
3.99 ac (173,804 SF)
Zoning code
BP
APN
10-030.00-097
UPID
US17-0320745
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
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$933k
Blend (final)
Blend
$725k
Owner & transaction history
Parkway Gravel INC · 1 yrs held
Parkway Gravel INC
since 2024
3 recorded transactions
Zoning & alternative use
BP · New Castle, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+67.0%
Retail stores
$1.1M
+65.4%
Commercial (general)
$985,000
+47.1%
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 New Castle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Castle 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
$515,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$670,000
Current use
MEDICAL BUILDING
$1,115,000
Change: +67% · Conversion: Difficult
RETAIL STORES
$1,105,000
Change: +65% · Conversion: Difficult
COMMERCIAL (GENERAL)
$985,000
Change: +47% · Conversion: Difficult
RESTAURANT
$925,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$865,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$101 / 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
$32,280
Tax year 2023
Assessed value
$1,053,700
Assessed 2023
Previous assessed
$1,053,700
+0.0% YoY
Effective rate
3.06%
On assessed value
Assessed land
$139,700
Assessed improvement
$914,000
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
For Lease
Year built
2009
Construction
CONCRETE
Heating
NONE
Buildings
3
Stories
1
Total area
7,176 SF
Lot
3.99 ac (173,804 SF)
Zoning code
BP
APN
10-030.00-097
UPID
US17-0320745
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
BP · New Castle, DE
Zoning BP · permitted uses
BP · New Castle, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Castle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$670,000
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$985,000
RESTAURANT
Est. value
$925,000
AUTO REPAIR, GARAGE
Est. value
$865,000
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
2009
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
3
Lot
3.99 ac
Current owner
From public records · entity-resolved
Parkway Gravel INC
Entity
Mailing address
4048 NEW CASTLE AVE, NEW CASTLE, DE 19720-1455
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
Oct 1, 2024
—
Parkway Gravel INC
—
Deed
related
$1,925,000 · Fulton Bank NA
Oct 5, 2018
—
Parkway Gravel INC
—
Deed
related
$800,000 · Fulton Bank NA
Nov 18, 2016
—
Parkway Gravel INC
—
Deed
related
$5,000,000 · Fulton Bank NA
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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