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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1048 2nd St Philadelphia, PA 19123-1602

    • Retail space
    • 14,964 SF
    • 0.25 lot acres
    OFF-MARKET
    Value Estimations
    $1,510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0004953
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 1048 2nd St

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.25 lot acres
    Property size
    14,964 SF
    Zone code
    CMX2.5
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    88-2-9335-06
    APU
    882933506

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,797,000
      Market price range: $1.30M - $4.16M
      AI Estimate
      $1,295,000
      Market price range: $654k - $2.99M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,360,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1402
    Latitude
    39.9677
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,707
    $195,835
    $783,365
    $979,200
    -
    $195,835
    $783,365
    $979,200

    Comparable in this City

    • Value Estimation
      $1,365,000
      9,240 SF

      801 2nd St, Unit 5

      STORE, RETAIL OUTLET • 9,240 SF
      801 2nd St, Philadelphia, PA 19123-3090
      View Details
    • Value Estimation
      $1,480,000
      19,820 SF

      527 Girard Ave, Unit 37

      STORE, RETAIL OUTLET • 19,820 SF
      527 Girard Ave, Philadelphia, PA 19123-1428
      View Details
    • Value Estimation by Request
      1,475 SF

      165 Girard Ave

      STORE, RETAIL OUTLET • 1,475 SF
      165 Girard Ave, Philadelphia, PA 19123-1620
      View Details
    • Value Estimation
      $800,000
      4,500 SF

      800 4th St, Unit 6

      STORE, RETAIL OUTLET • 4,500 SF
      800 4th St, Philadelphia, PA 19123-2207
      View Details
    • Value Estimation
      $1,540,000
      15,788 SF

      541 Orianna St, Unit 47

      STORE, RETAIL OUTLET • 15,788 SF
      541 Orianna St, Philadelphia, PA 19123-2941
      View Details
    • Value Estimation
      $615,000
      6,100 SF

      905 3rd St, Unit 7

      STORE, RETAIL OUTLET • 6,100 SF
      905 3rd St, Philadelphia, PA 19123-2205
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,950 SF

      Spring Garden Street Retail Space

      High-traffic retail storefront, excellent location.
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      9,700 SF

      Retail Space in Northern Liberties

      9,700 SF retail space in vibrant Northern Liberties.
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      Northern Liberties Corner Retail Opportunity

      High-profile corner location in Northern Liberties with amazing frontage.
      601 N 2Nd St, Philadelphia, PA 19123
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      7,900 SF

      Retail Space in Philadelphia

      Up to 7,900 SF of retail space for sale.
      1833 N Howard St, Philadelphia, PA 19123
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    • $779,000
      3,252 SF

      Mixed-Use Property on Spring Garden

      Three-story mixed-use building with retail and residential units.
      937 Spring Garden St, Philadelphia, PA 19123
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    • Contact for pricing

      Northern Liberties Retail Opportunities

      Retail spaces available in a new Northern Liberties development.
      700 Delaware Ave, Philadelphia, PA 19123
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    Similar Nearby for Lease

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      2,275 SF

      Prime Retail Space in Philadelphia

      High-visibility retail space in new construction near Northern Liberties.
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      View Details
    • $25 SF/Yr
      1,760 SF

      Girard Avenue Retail Space Available

      New construction retail space with frontage on Girard Avenue.
      625 W Girard Ave, Philadelphia, PA 19123
      View Details
    • Contact for pricing
      6,800 SF

      Unique Retail Space Available

      Retail space in converted train shed with high ceilings.
      1036 Spring Garden St, Philadelphia, PA 19123
      View Details
    • $35 SF/Yr
      1,609 SF

      New Retail Space Available

      New construction retail space in prime location for rent.
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      View Details
    • Contact for pricing
      1,330 SF

      New Construction Retail Space

      Retail space in active Philadelphia growth corridor.
      1306 Callowhill St, Philadelphia, PA 19123
      View Details
    • New
      $1,600 /Mo

      Prime Retail Space in Philadelphia

      First-floor retail condominium with full basement in center city.
      449 N 12Th St, Philadelphia, PA 19123
      View Details
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    1048 2nd St
    Philadelphia, PA 19123-1602
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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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