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    1227 Race St, Unit 29 Philadelphia, PA 19107-1618
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    Property profile & analytics

    1227 Race St, Unit 29, Philadelphia, PA 19107-1618

    View on Map
    • Hotels
    • 20,000 SF
    • 0.09 lot acres
    Off-Market
    Property ID
    US73-2656583
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hotel Pensilvania / Hotel & Motel
    • Days Inn by Wyndham Philadelphia Convention Center / Hotel & Motel

    Property Details for 1227 Race St

    Year built
    1910
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.09 lot acres
    Zone code
    CMX4
    Property type
    Hotels
    APN
    88-3-7265-00
    APU
    883726500

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 7, 2017 — North American Mgmt Group INC — Deed · related $3.2M · Morebank
    May 26, 2011 — North American Mgmt Group INC — Deed Of Trust · related $2.5M · Parke Bank
    Mar 17, 2006 — North American Mgmt Group INC — Trustees Deed · related $500k · State Bank Of Texas
    Jul 27, 1999 $410,000 Robert N Herdelin Sheriff & Philadelphia County Trustees Deed · related —
    Jul 27, 1999 $350,000 Mj Evergreen INC Herdilin,robert N Grant Deed · related —
    — — North American Mgmt Group INC — Deed Of Trust · related $3.4M · China Citic Bk Int'l Ltd
    — — North American Mgmt Group INC — Deed Of Trust · related $300k · Parke Bank
    — — North American Mgmt Group INC — Deed Of Trust · related $565k · State Bank Of Texas
    — — North American Mgmt Group INC — Deed Of Trust · related $500k · Delval Business Finance Corp
    — — North American Mgmt Group INC — Deed Of Trust · related $3M · State Bank Of Texas
    — — North American Mgmt Group INC — Deed Of Trust · related $3.2M · Morebank
    — — Lams Realty Corp — Deed Of Trust · related $565k · State Bank Of Texas

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1602
    Latitude
    39.9561
    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
    $29,228
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $2,485,700

    Comparable in this City

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      172,000 SF

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      228,225 SF

      1319-25 Market St

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    • Value Estimation
      $6,085,000
      624,696 SF

      111 Broad St

      HOTEL
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      $8,635,000
      18,144 SF

      1234 Locust St

      HOTEL
      1234 Locust St, Philadelphia, PA 19107-6270
      View Details
    • Value Estimation
      $18,110,000
      319,992 SF

      1301 Race St, Unit 9

      HOTEL
      1301 Race St, Philadelphia, PA 19107-1517
      View Details
    • Value Estimation
      $25,100,000
      93,428 SF

      101 Broad St Fl 09

      HOTEL
      101 Broad St Fl 09, Philadelphia, PA 19107-6521
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1 SF

      Quality Inn

      Own & Operate a 40-Room Recently Renovated Mid Economy Frenchise Hotel in Downtown Philadelphia. Rare opportunity to become a partner/owner-operator in a well-performing 40-room hotel located in downtown Philadelphia.
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    • Contact for pricing
      0.24 Acres

      Land For Sale Philadelphia

      Commercial land available for sale in Philadelphia, Pennsylvania.
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      Established Restaurant in Washington Square

      Turnkey restaurant property in Philadelphia's vibrant Washington Square West.
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      11,582 SF

      Mixed-Use Property in Midtown Village

      Four-story mixed-use property in a dynamic Philadelphia neighborhood.
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      12,960 SF

      Medical Office Space Available

      Medical office space for lease or purchase near major hubs.
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    Similar Nearby for Lease

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      2,800 SF

      Office Space in Biddle Building

      Office space available for lease in Philadelphia's Biddle Building.
      1217 Sansom St, Philadelphia, PA 19107
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    • $4,000 /Mo
      8,002 SF

      Prime Chinatown Commercial Space

      High-visibility Philadelphia location, ideal for various commercial uses.
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      1,659 SF

      Prime Location Office and Retail

      Office and retail spaces in a vibrant, accessible location.
      1001 Vine St, Philadelphia, PA 19107
      View Details
    • Contact for pricing

      Single Tenant Office Space

      3,700 SqFt office space available for single tenant.
      205 N Broad St, Philadelphia, PA 19107
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    • Contact for pricing
      954 SF

      Retail Spaces on Broad Street

      Retail spaces available on Broad Street near transportation.
      101 N Broad St, Philadelphia, PA 19107
      View Details
    • Contact for pricing

      Philadelphia Office Space Available

      Office spaces available, ranging from 5,650 to 38,400 SqFt.
      1209 Vine St, Philadelphia, PA 19107
      View Details

    Property Visit Statistics

    • Visits by month
      9.0k
    • Visitors by month
      7.7k
    • Avg Time on site
      464 min
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    Philadelphia, PA 19107-1618
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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.

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