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Property profile & analytics
OFF-MARKET
Estimated value
$28,070,000
Apartment buildings
109 2nd St 31 Philadelphia, PA 19106-2002
Entity Owned
10-yr Hold
Free & Clear
Property ID
US73-1843265
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
152,715 SF
Lot
1.06 ac (46,348 SF)
Zoning code
CMX3
APN
88-1-0060-80
UPID
US73-1843265
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
by Request
Blend (final)
Blend
$28.07M
Owner & transaction history
Bit Inv Seventy-eight LLC · 10 yrs held
Bit Inv Seventy-eight LLC
since 2016
7 recorded transactions
Zoning & alternative use
CMX3 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$43.0M
+1.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$42,475,000
Current use
OFFICE BUILDING
$42,975,000
Change: +1% · Conversion: Moderate
COMMERCIAL (GENERAL)
$37,980,000
Change: -11% · Conversion: Moderate
MEDICAL BUILDING
$37,500,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$28.07M
Range $25.26M – $30.88M · ±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
$184 / 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
$70,690
Tax year 2023
Previous assessed
$5,050,000
Total market value
$50,500,000
Applied tax rate
5.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
6
Total area
152,715 SF
Lot
1.06 ac (46,348 SF)
Zoning code
CMX3
APN
88-1-0060-80
UPID
US73-1843265
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$42.5M
OFFICE BUILDING
Est. value
$43.0M
COMMERCIAL (GENERAL)
Est. value
$38.0M
MEDICAL BUILDING
Est. value
$37.5M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
6
Lot
1.06 ac
Current owner
From public records · entity-resolved
Bit Inv Seventy-eight LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1 E PRATT ST FL, BALTIMORE, MD 21202-1213
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2016
$7,000,000
Bit Inv Seventy-eight LLC
Patriot National LLC
Grant Deed
—
Jul 19, 2012
—
Patriot National LLC
National East Associates LP
Deed In Lieu Of Foreclosure
related
—
Mar 12, 2010
—
National East Associates LP
—
Loan Modification
related
$11,575,000 · Academy Nat'l Bk NA
May 28, 2009
—
National East Associates
—
Loan Modification
related
$11,375,000 · Academy Nat'l Bk NA
Aug 11, 2006
$9,400,000
National East Associates
Mp Residential Properties LLC
Grant Deed
—
Jan 20, 2004
$1,932,000
Mp Residential Properties LLC
National Products
Grant Deed
—
—
—
National East Associates
—
Loan Modification
related
$2,875,000 · Patriot Group LLC
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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