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    Property profile & analytics

    32 Rittenhouse St Philadelphia, PA 19144

    • Residential income homes
    • 18,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 32 Rittenhouse St

    Year built
    2025
    Property size
    18,000 SF
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of ten brand-new, Class A, three-story townhomes totaling 18,000 square feet. Located at 32 E Rittenhouse St, Philadelphia, PA 19144, this property boasts a prime location in the thriving Germantown neighborhood, offering residents convenient access to shops, restaurants, and Vernon Park. Each unit features three bedrooms, two bathrooms, and approximately 1800 square feet of living space, including a private rooftop terrace. The development includes ten private garage parking spaces, a significant amenity in this urban setting. Built in 2025, this build-to-rent community is designed to meet evolving consumer preferences for spacious homes with outdoor amenities. The property benefits from a ten-year tax abatement, significantly reducing tax burdens. Situated in a top-ten US MSA, this investment offers strong potential for rent growth and appreciation. This is part two of a two-phase mixed-use development, with phase one already sold. The property is zoned RSA5 and presents a compelling opportunity to capitalize on the benefits of an Opportunity Zone. The asking price for this exceptional portfolio is $4,350,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1754
    Latitude
    40.038

    Comparable in this City

    • Value Estimation
      $4,600,000
      43,368 SF

      5301 Germantown Ave

      BOARDING/ROOMING HOUSE • 43,368 SF
      5301 Germantown Ave, Philadelphia, PA 19144-2368
      View Details
    • Value Estimation
      $530,000
      3,040 SF

      5151 Wayne Ave

      BOARDING/ROOMING HOUSE • 3,040 SF
      5151 Wayne Ave, Philadelphia, PA 19144-3540
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    • Value Estimation
      $2,560,000
      24,138 SF

      20 Woodlawn St, Unit 26

      BOARDING/ROOMING HOUSE • 24,138 SF
      20 Woodlawn St, Philadelphia, PA 19144-2238
      View Details
    • Value Estimation
      $990,000
      7,226 SF

      156 School House Ln

      BOARDING/ROOMING HOUSE • 7,226 SF
      156 School House Ln, Philadelphia, PA 19144-3404
      View Details
    • Value Estimation
      $600,000
      7,621 SF

      329 Wister St

      BOARDING/ROOMING HOUSE • 7,621 SF
      329 Wister St, Philadelphia, PA 19144-1828
      View Details
    • Value Estimation by Request
      6,478 SF

      25 High St

      BOARDING/ROOMING HOUSE • 6,478 SF
      25 High St, Philadelphia, PA 19144-2116
      View Details

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    Similar Nearby for Lease

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    32 Rittenhouse St
    Philadelphia, PA 19144
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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