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Property profile & analytics
OFF-MARKET
Estimated value
$2,830,000
Strip malls
1240 Erie Ave Philadelphia, PA 19124
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US73-0234270
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
37,435 SF
Lot
2.34 ac (101,756 SF)
Zoning code
I2
APN
88-2-0500-00
UPID
US73-0234270
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
-
Dollar General Discount Store
-
Fine Fare Supermarket Specialty Food Shop Supermarket
-
Western Union Bank Credit Union
-
Metro by T-Mobile Mobile Phone Store Electronics & Wireless Store
-
Marketplace of Erie Plaza Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.83M
Owner & transaction history
Erie Plaza Philadelphia LLC · 17 yrs held
Erie Plaza Philadelphia LLC
since 2008
6 recorded transactions
Zoning & alternative use
I2 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$76 / 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
$72,917
Tax year 2023
Assessed value
$5,209,100
Assessed 2023
Previous assessed
$5,209,100
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$1,041,816
Assessed improvement
$4,167,284
Land market value
$1,041,816
Improvement market value
$4,167,284
Total market value
$5,209,100
Applied tax rate
33.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
37,435 SF
Lot
2.34 ac (101,756 SF)
Zoning code
I2
APN
88-2-0500-00
UPID
US73-0234270
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
I2 · Philadelphia, PA
Zoning I2 · permitted uses
I2 · 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.
Building & site characteristics
From public records
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
2.34 ac
Current owner
From public records · entity-resolved
Erie Plaza Philadelphia LLC
Entity
Mailing address
PO BOX 3212, LONG BRANCH, NJ 07740-3212
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2019
—
Erie Plaza Philadelphia LLC
—
Deed
related
$4,200,000 · Ubs Ag
Dec 2, 2008
$3,465,000
Erie Plaza Philadelphia LLC
Erie Plaza Partners
Grant Deed
$2,500,000 · Spencer Savings Bank Sla
—
—
Erie Plaza Philadelphia LLC
—
Deed Of Trust
related
$3,200,000 · Spencer Svgs Bk
—
—
Erie Plaza Philadelphia LLC
—
Deed Of Trust
related
$400,000 · Spencer Savings Bank Sla
—
—
Erie Plaza Philadelphia LLC
—
Deed Of Trust
related
$4,200,000 · Ubs Ag
—
—
S & F Meat Corp
—
Deed Of Trust
related
—
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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