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Property profile & analytics
OFF-MARKET
Estimated value
$29,805,000
Apartment buildings
1501 Chestnut St 15 Philadelphia, PA 19102-2501
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US73-2008923
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
149,600 SF
Lot
0.25 ac (10,956 SF)
Zoning code
CMX5
APN
88-1-0310-14
UPID
US73-2008923
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
-
Wells Fargo ATM Atm
-
Wells Fargo Bank Bank Loan Service
-
King Rush Productions Film Production Television Studio
-
Wells Fargo Advisors Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$41.61M
Blend (final)
Blend
$29.81M
Owner & transaction history
15th & Chestnut LP · 21 yrs held
15th & Chestnut LP
since 2005
7 recorded transactions
Zoning & alternative use
CMX5 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$46.3M
+11.3%
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)
$41,610,000
Current use
RESTAURANT
$46,325,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$38,060,000
Change: -9% · Conversion: Moderate
MEDICAL BUILDING
$36,735,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$29.81M
Range $26.82M – $32.79M · ±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
$199 / 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
$312,709
Tax year 2023
Previous assessed
$22,339,563
Total market value
$49,533,400
Applied tax rate
8.0000
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
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
17
Total area
149,600 SF
Lot
0.25 ac (10,956 SF)
Zoning code
CMX5
APN
88-1-0310-14
UPID
US73-2008923
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CMX5 · Philadelphia, PA
Zoning CMX5 · permitted uses
CMX5 · 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
$41.6M
RESTAURANT
Est. value
$46.3M
OFFICE BUILDING
Est. value
$38.1M
MEDICAL BUILDING
Est. value
$36.7M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
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
1914
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
17
Lot
0.25 ac
Current owner
From public records · entity-resolved
15th & Chestnut LP
Entity
Mailing address
801 OLD YORK RD, JENKINTOWN, PA 19046-1608
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2022
—
15th And Chestnut LP
—
Deed
related
$4,850,000 · Jll Real Estate Capital LLC
Dec 30, 2020
—
15th & Chestnut LP
—
Deed
related
$38,000,000 · Jll R/e Cap LLC
Jan 31, 2020
—
15th & Chestnut LP
—
Deed
related
$4,500,000 · Webster Bk NA
Jun 4, 2014
—
15th & Chestnut LP
—
Grant Deed
related
$39,000,000 · Pnc Bk
May 17, 2012
—
15th & Chestnut LP
—
Deed Of Trust
related
$9,000,000 · Miscellaneous Ins Co
Apr 10, 2008
—
15th & Chestnut
—
Deed Of Trust
related
$15,200,000 · Td Banknorth
May 9, 2005
$11,380,000
15th & Chestnut LP
Diamond 5 LLC
Deed
$11,380,000 · Chestnut LP
—
—
Briad Wenco LLC
—
Loan Modification
related
$250,000,000 · Bank Of America
—
—
15th & Chestnut LP
—
Loan Modification
related
$4,500,000 · Webster Bk NA
—
—
Briad Wenco LLC
—
Deed Of Trust
related
—
—
—
15th & Chestnut LP
—
Deed Of Trust
related
$38,000,000 · Jll R/e Cap 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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