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Property profile & analytics
OFF-MARKET
Estimated value
$26,900,000
Office buildings
1020 Delaware Ave 84 Philadelphia, PA 19125-4334
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US73-1644834
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1905
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
137,603 SF
Lot
0.73 ac (31,878 SF)
Zoning code
CMX3
APN
88-3-3650-00
UPID
US73-1644834
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
-
Mg Berger Inc - Aflac Insurance Agent Insurance Agency
-
Jose A Schieneman - Aflac Insurance Agent Insurance Agency
-
Recording Connection Audio Institute Vocational School Training Center
-
Centennial Pharmacy Services Pharmacy
-
EBE Talent - Wedding Bands and Entertainment Philadelphia Event Planning Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$29.72M
Comparable Approach
Comparable
$31.55M
Blend (final)
Blend
$26.90M
Owner & transaction history
1080 De Ave Associates · 17 yrs held
1080 De Ave Associates
since 2009
5 recorded transactions
Zoning & alternative use
CMX3 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$42.6M
+21.7%
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 Philadelphia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Philadelphia 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%
$32,190,000
6.5%
$29,715,000
7%
$27,595,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$35,010,000
Current use
RESTAURANT
$42,610,000
Change: +22% · Conversion: Moderate
MEDICAL BUILDING
$33,785,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$30,240,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$26.90M
Range $24.21M – $29.59M · ±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
$195 / 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
$281,881
Tax year 2023
Assessed value
$20,137,200
Assessed 2023
Previous assessed
$20,137,200
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$4,773,120
Assessed improvement
$15,364,080
Land market value
$4,773,120
Improvement market value
$15,364,080
Total market value
$20,137,200
Applied tax rate
18.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1905
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
8
Total area
137,603 SF
Lot
0.73 ac (31,878 SF)
Zoning code
CMX3
APN
88-3-3650-00
UPID
US73-1644834
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CMX3 · Philadelphia, PA
Zoning CMX3 · permitted uses
CMX3 · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Philadelphia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$35.0M
RESTAURANT
Est. value
$42.6M
MEDICAL BUILDING
Est. value
$33.8M
WAREHOUSE, STORAGE
Est. value
$30.2M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1905
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
8
Lot
0.73 ac
Current owner
From public records · entity-resolved
1080 De Ave Associates
Entity
Mailing address
114 CHESTNUT ST FL, PHILADELPHIA, PA 19106-3069
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2024
—
1080 Delaware Ave Associates LP
—
Deed
related
$18,225,000 · Continental Casualty Company
Jun 16, 2009
—
1080 De Ave Associates
1080 De Ave Associates
Quit Claim Deed
related
$7,500,000 · National Penn Bank
Jul 10, 2008
$7,470,000
1080 Delaware Ave Assocs
Bogatin P F & S C R U
Grant Deed
—
Feb 28, 2005
—
Philip F Bogatin
Delpar
Grant Deed
—
—
—
1080 Delaware Ave Assocs LP
—
Deed Of Trust
related
$17,300,000 · Cantor Commercial Real Estate
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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