Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    161 21st St Philadelphia, PA 19103-1113

    • Investment properties
    • 3,312 SF
    • 0.03 lot acres
    OFF-MARKET
    Last Sale
    Feb 24, 2020
    $1,100,000
    Value Estimations
    $1,115,000
    Show details
    Cap Rate Potential
    3.5%
    Investment properties
    Location Intelligence
    Property ID
    US73-1496339
    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.

    Current Use by Public Records

    • Moustaki Authentic Gyros / Restaurant

    Property Details for 161 21st St

    Year built
    1900
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.03 lot acres
    Property size
    3,312 SF
    Zone code
    CMX1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    87-1-2889-00
    APU
    871288900

    Description

    This exceptional Class A mixed-use building at 161 N 21st Street, Philadelphia, PA 19103, offers a rare investment opportunity. Boasting 3,312 square feet on a 0.03-acre lot, the property features a thriving, long-term restaurant tenant occupying the ground floor. Above, three high-end residential units provide substantial rental income. Each unit showcases modern finishes, wide-plank hardwood floors, eat-in kitchens with quartz countertops, high-efficiency stainless steel appliances, and in-unit laundry. The building's prime location in Philadelphia's Museum District places it steps from renowned attractions like the Franklin Institute and Barnes Foundation. Surrounded by thriving retail, restaurants, and significant new residential and commercial developments, this property presents a compelling investment with strong potential for appreciation and consistent cash flow. The building's recent renovations ensure immediate occupancy and minimal maintenance needs. This is a unique chance to acquire a meticulously maintained, high-performing asset in a rapidly developing area of Philadelphia.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,135,000
      ML approach
      $1,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $964,000
      Market price range: $801k - $1.59M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,160,000
      Current use
      OFFICE BUILDING
      $1,105,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.174
    Latitude
    39.9576
    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
    $11,578
    $165,420
    $661,680
    $827,100
    -
    $165,420
    $661,680
    $827,100

    Comparable in this City

    • Value Estimation
      $865,000
      4,050 SF

      2309 Delancey Pl

      OFFICE/RESIDENTIAL (MIXED USE) • 4,050 SF
      2309 Delancey Pl, Philadelphia, PA 19103-6406
      View Details
    • Value Estimation
      $730,000
      4,526 SF

      1608 Spruce St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,526 SF
      1608 Spruce St, Philadelphia, PA 19103-6788
      View Details
    • Value Estimation by Request
      2,300 SF

      2201 Spruce St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,300 SF
      2201 Spruce St, Philadelphia, PA 19103-5517
      View Details
    • Value Estimation
      $715,000
      3,335 SF

      2130 Pne St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,335 SF
      2130 Pne St, Philadelphia, PA 19103-6535
      View Details
    • Value Estimation by Request
      2,652 SF

      2227 Pne St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,652 SF
      2227 Pne St, Philadelphia, PA 19103-6686
      View Details
    • Value Estimation
      $1,035,000
      7,856 SF

      1703 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,856 SF
      1703 Walnut St, Philadelphia, PA 19103-5204
      View Details

    Similar Nearby for Sale

    • $1,875,000
      3,400 SF

      Rittenhouse Square Versatile Income Property

      Income-producing property near Rittenhouse Square, suitable for various uses.
      2047 Locust St, Philadelphia, PA 19103
      View Details
    • $1,599,000
      2,250 SF

      Center City Restaurant Investment

      Turnkey Restaurant, Prime Location
      2048 Sansom St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      17,558 SF

      Prime Philadelphia Mixed-Use Property

      Walnut Street Redevelopment Opportunity: Liquor License Included
      2007 Walnut St, Philadelphia, PA 19103
      View Details
    • $1,999,000

      Rittenhouse Square Mixed-Use Investment

      Mixed-use building near Rittenhouse Square with medical office and apartments.
      112 S 20Th St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      16,000 SF

      Rittenhouse Square Estate For Sale

      Prestigious 16,000 SF Rittenhouse Square office building for sale.
      1622 Locust St, Philadelphia, PA 19103
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,631 SF

      Modern Office Space with Amenities

      Office space with restaurant, coffee bar, and city views.
      1600 Market St, Philadelphia, PA 19103
      View Details
    • $28 SF/Yr
      3,355 SF

      Class A Office Space

      Established office building with direct access to public transportation.
      1628 John F Kennedy Blvd, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      28,600 SF

      Renovated Office Building For Rent

      Office building at 23rd and Market Streets available for rent.
      2300 Market St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      5,998 SF

      Move-in Ready Office Suites

      Modern office suites with tenant amenities in Philadelphia.
      2000 Market St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      5,944 SF

      Modern Office Space Available

      State-of-the-art office spaces with ample natural light.
      2400 Market St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      2,000 SF

      Rittenhouse Square Retail Opportunity

      Prime Philadelphia Restaurant Space Available
      2013 Walnut St, Philadelphia, PA 19103
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    161 21st St
    Philadelphia, PA 19103-1113
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!