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Property profile & analytics
OFF-MARKET
Estimated value
$3,345,000
Grocery and convenience stores
1401 Erie Ave Philadelphia, PA 19124
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-0231540
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
27,470 SF
Lot
2.77 ac (120,531 SF)
Zoning code
ICMX
APN
88-2-9084-00
UPID
US73-0231540
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
-
Coffeeland Restaurant
-
Breakfast Heaven Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.54M
Blend (final)
Blend
$3.35M
Owner & transaction history
Leevers Supermarkets INC · 3 yrs held
Leevers Supermarkets INC
since 2023
7 recorded transactions
Zoning & alternative use
ICMX · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.1M
+50.1%
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
RETAIL STORES
$3,395,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,095,000
Change: +50% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,140,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,115,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$3.35M
Range $3.01M – $3.68M · ±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
$122 / 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
$67,941
Tax year 2023
Assessed value
$4,853,600
Assessed 2023
Previous assessed
$4,853,600
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$3,397,496
Assessed improvement
$1,456,104
Land market value
$3,397,496
Improvement market value
$1,456,104
Total market value
$4,853,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
27,470 SF
Lot
2.77 ac (120,531 SF)
Zoning code
ICMX
APN
88-2-9084-00
UPID
US73-0231540
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
ICMX · Philadelphia, PA
Zoning ICMX · permitted uses
ICMX · 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
RETAIL STORES Current
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
2.77 ac
Current owner
From public records · entity-resolved
Leevers Supermarkets INC
Entity
Mailing address
500 WILCOX ST, CASTLE ROCK, CO 80104-1737
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 8, 2023
$6,760,357
Leevers Supermarkets INC
Moran Foods LLC
Correction Deed
related
—
Sep 2, 2022
—
Leevers Supermarkets INC
—
Deed
related
$1,982,199 · Zb NA
May 4, 2020
—
Moran Foods INC
—
Deed
related
$210,000,000 · Citizens Bank NA
Apr 2, 2020
—
Moran Foods LLC
—
Deed
related
$138,900,000 · Other Institutional Lenders
Mar 11, 2020
—
Moran Foods LLC
—
Deed
related
$12,671,567 · Cortland Capital Market Services LLC
Jan 6, 2020
—
Moran Foods LLC
—
Deed
related
$40,000,000 · Cortland Capital Market Services LLC
Oct 8, 2019
—
Moran Foods LLC
—
Grant Deed
related
$30,000,000 · Ankura Tr Co LLC
Apr 11, 2019
—
Moran Foods LLC
—
Grant Deed
related
$20,000,000 · Sal Holdco Corp
Jun 20, 2013
—
Moran Foods LLC
—
Deed Of Trust
related
$2,000,000,000 · Goldman Sachs Bank USA
—
—
Moran Foods LLC
—
Loan Modification
related
—
—
—
Moran Foods LLC
—
Deed Of Trust
related
$40,000,000 · Cortland Capital Market Services LLC
—
—
Moran Foods LLC
—
Deed Of Trust
related
$180,000,000 · Cortland Capital Market Services LLC Cortland Capital Market Services LLC
—
—
Moran Foods LLC
—
Deed Of Trust
related
$12,671,567 · Cortland Capital Market Services LLC
—
—
Moran Foods LLC
—
Deed Of Trust
related
$15,000,000 · Other Institutional Lenders
—
—
Moran Foods LLC
—
Deed Of Trust
related
$138,900,000 · Other Institutional Lenders
—
—
Moran Foods LLC
—
Deed Of Trust
related
$1,250,000,000 · Wfb NA
—
—
Moran Foods LLC
—
Loan Modification
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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