Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1618 Mifflin St, Unit 22 Philadelphia, PA 19145-3000
    Back to Search
    Property profile & analytics

    1618 Mifflin St, Unit 22, Philadelphia, PA 19145-3000

    View on Map
    • Apartment buildings
    • 10,500 SF
    • 0.08 lot acres
    Off-Market
    Property ID
    US73-1078648
    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
    $1,850,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1618 Mifflin St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.08 lot acres
    Zone code
    I2
    Property type
    Apartment buildings
    APN
    88-1-5772-75
    APU
    881577275

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 29, 2016 — Skylight Holdings LP — Deed · related $1.8M · Other Institutional Lenders
    Oct 16, 2014 $465,000 Skylight Holdings LP Mifflin Dev Co INC Grant Deed —
    Sep 2, 2005 $200,000 Mifflin Dev Co INC Curry,george Grant Deed —
    — — Skylight Holdings LP — Deed Of Trust · related $1.8M · Other Institutional Lenders

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,920,000
      Current use
      OFFICE BUILDING
      $2,670,000
      Change: -9% Conversion: Moderate
      MEDICAL BUILDING
      $2,580,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1733
    Latitude
    39.9272
    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
    $7,978
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $1,239,000

    Comparable in this City

    • Value Estimation
      $1,725,000
      12,327 SF

      1800 Shunk St, Unit 10

      APARTMENT HOUSE (5+ UNITS)
      1800 Shunk St, Philadelphia, PA 19145-3708
      View Details
    • Value Estimation
      $1,400,000
      7,954 SF

      1631 Pt Breeze Ave

      APARTMENT HOUSE (5+ UNITS)
      1631 Pt Breeze Ave, Philadelphia, PA 19145-1326
      View Details
    • Value Estimation
      $3,685,000
      42,523 SF

      1701 28th Stc

      APARTMENT HOUSE (5+ UNITS)
      1701 28th Stc, Philadelphia, PA 19145-1704
      View Details
    • Value Estimation
      $4,625,000
      53,346 SF

      1701 32nd St, Unit 37

      APARTMENT HOUSE (5+ UNITS)
      1701 32nd St, Philadelphia, PA 19145-1650
      View Details
    • Value Estimation
      $555,000
      2,628 SF

      2508 Broad St

      APARTMENT HOUSE (5+ UNITS)
      2508 Broad St, Philadelphia, PA 19145-4659
      View Details
    • Value Estimation
      $520,000
      2,210 SF

      1801 16th St

      APARTMENT HOUSE (5+ UNITS)
      1801 16th St, Philadelphia, PA 19145-2249
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,492 SF

      Multifamily Property on South Broad

      Well-maintained multifamily property in South Philadelphia with income and upside.
      1614 S Broad St, Philadelphia, PA 19145
      View Details
    • $879,999
      3,321 SF

      Point Breeze Multifamily Investment Property

      Well-maintained 4-unit property in Point Breeze, Philadelphia.
      1639 S 22Nd St, Philadelphia, PA 19145
      View Details
    • $369,900
      2,232 SF

      Mixed-Use Property in Philadelphia

      Corner property with commercial space and apartments in Philadelphia.
      1713 Wolf St, Philadelphia, PA 19145
      View Details
    • $429,900
      1,468 SF

      Philadelphia Duplex Ready for Rent

      Two-unit duplex in Philadelphia, ready for immediate rental income.
      1735 Mckean St, Philadelphia, PA 19145
      View Details
    • $460,000
      1,530 SF

      Remodeled Duplex in West Passyunk

      Newly remodeled duplex in Philadelphia's West Passyunk neighborhood with tax abatement.
      2001 S Norwood St, Philadelphia, PA 19145
      View Details
    • $950,000
      3,123 SF

      Mixed-Use Property on Broad Street

      Recently renovated mixed-use property in South Philadelphia's Newbold neighborhood.
      1602 S Broad St, Philadelphia, PA 19145
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      1,124 SF

      Snyder Avenue Commercial Space Available

      Commercial space and residential units for lease in Philadelphia.
      1709 Snyder Ave, Philadelphia, PA 19145
      View Details
    • $1,500 /Mo
      1,124 SF

      Mixed-Use Property in Philadelphia

      Commercial space and residential units in West Passyunk.
      1711 Snyder Ave, Philadelphia, PA 19145
      View Details
    • $1,495 /Mo
      2,269 SF

      Broad Street Commercial Unit

      Office or retail space available on Broad Street.
      2206 S Broad St, Philadelphia, PA 19145
      View Details
    • Contact for pricing
      10,000 SF

      Prime Retail Space in Philadelphia

      Retail space in South Philadelphia's premier power center.
      2300 W Oregon Ave, Philadelphia, PA 19145
      View Details
    • Contact for pricing

      South Philadelphia Garage Rental

      Two-door garage in South Philadelphia with water and electric.
      1911 Jackson St, Philadelphia, PA 19145
      View Details
    • Contact for pricing
      6,000 SF

      6,000 SF Retail Space Available

      6,000 SF second-floor retail space with private gated parking.
      1725 S 25Th St, Philadelphia, PA 19145
      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.
    1618 Mifflin St, Unit 22
    Philadelphia, PA 19145-3000
    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

    Thank You for Inquiry
    1618 Mifflin St, Philadelphia, PA, 19145
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!