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Property profile & analytics
FOR SALE
Commercial real estate
9320 Old Racetrack Rd Delmar, DE 19940
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US17-0085895
For Sale
1 / 20
$1,100,000
9320 Old Racetrack Rd, Delmar, DE 19940
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
1,440 SF
Lot
4.66 ac (202,990 SF)
Zoning code
HI-1
APN
532-20.00-14.01
UPID
US17-0085895
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
$687k
Blend (final)
Blend
$640k
Owner & transaction history
9320 Old Racetrack Road LLC · 3 yrs held
9320 Old Racetrack Road LLC
since 2023
Last sale
$600,000
2 recorded transactions
Zoning & alternative use
HI-1 · Delmar, 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 Delmar submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Delmar 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
$875,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$640k
Range $576k – $704k · ±10% · vs last sale $600k (Jun 12 2023)
Last sale anchor
$600k
Jun 12 2023
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
$444 / 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
$3,436
Tax year 2023
Assessed value
$68,000
Assessed 2024
Previous assessed
$68,000
+0.0% YoY
Effective rate
5.05%
On assessed value
Assessed land
$7,450
Assessed improvement
$60,550
Land market value
$14,900
Improvement market value
$121,100
Total market value
$136,000
Applied tax rate
7.0000
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 real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Heating
NONE
Cooling
NONE
Total area
1,440 SF
Lot
4.66 ac (202,990 SF)
Zoning code
HI-1
APN
532-20.00-14.01
UPID
US17-0085895
Jurisdiction
SUSSEX
Zoning & alternative use
HI-1 · Delmar, DE
Zoning HI-1 · permitted uses
HI-1 · Delmar, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Delmar. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Cooling
Yes
Lot
4.66 ac
Current owner
From public records · entity-resolved
9320 Old Racetrack Road LLC
Entity
Mailing address
PO BOX 3151, SALISBURY, MD 21802-3151
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
Jun 12, 2023
$600,000
9320 Old Racetrack Road LLC
Joseph S Schaffer
Deed
$798,800 · Hebron Savings Bank
Oct 19, 2022
$150,000
Joseph S Schaffer
Calra L Corns
Deed
$200,000 · Bell Island Mtg INC
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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