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Property profile & analytics
OFF-MARKET
Estimated value
$2,340,000
Office Spaces
92 Reads Way 2, New Castle, DE 19720-1631
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US17-0276369
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1987
Construction
BRICK
Total area
15,871 SF
Zoning code
BP
APN
10-013.00-032-C0002
UPID
US17-0276369
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
-
New Castle Dental Associates Dental Office
-
Zimny & Associates Accounting Firm Tax Preparation
-
Interim HealthCare of Delaware Home Health Care Service Nursing Agency
-
American Transport Systems Freight Service Logistics Company
-
Delaware Early Choices State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.49M
Comparable Approach
Comparable
$3.05M
Blend (final)
Blend
$2.34M
Owner & transaction history
Old Town Hall Associates LLC · 2 yrs held
Old Town Hall Associates LLC
since 2023
2 recorded transactions
Zoning & alternative use
BP · New Castle, 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 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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,695,000
6.5%
$2,490,000
7%
$2,310,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,635,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$2.34M
Range $2.11M – $2.57M · ±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
$147 / 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
Assessed value
$944,900
Assessed 2023
Previous assessed
$944,900
+0.0% YoY
Assessed land
$74,300
Assessed improvement
$870,600
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
1987
Construction
BRICK
Heating
YES
Cooling
YES
Stories
1
Total area
15,871 SF
Zoning code
BP
APN
10-013.00-032-C0002
UPID
US17-0276369
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
RETAIL STORES
Est. value
$3.6M
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
1987
Construction
BRICK
Heating
YES
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Old Town Hall Associates LLC
Entity
Mailing address
1202 KIRKWOOD HWY, WILMINGTON, DE 19805-2120
Ownership since
2023
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
Aug 2, 2023
—
Old Town Hall Associates LLC
American Mortgage & Guaranty Compan
Special Warranty Deed
—
Feb 1, 2017
—
Reads Way Three Trust
—
Grant Deed
related
$2,375,000 · Miscellaneous Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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