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Property profile & analytics
OFF-MARKET
Estimated value
$6,460,000
Office Spaces
1805 Walnut St B, Philadelphia, PA 19103-4741
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US73-1622211
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
27,690 SF
Lot
0.21 ac (9,314 SF)
Zoning code
CMX5
APN
88-2-0372-30
UPID
US73-1622211
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
-
Starbucks Barnes & Noble Cafe Cafe & Coffee Shop
-
Barnes & Noble (Bike/Boat/Book/etc) Store
-
The Alison Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.98M
Comparable Approach
Comparable
$6.57M
Blend (final)
Blend
$6.46M
Owner & transaction history
1805 Retail Partners · 18 yrs held
1805 Retail Partners
since 2008
5 recorded transactions
Zoning & alternative use
CMX5 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.7M
+4.7%
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%
$6,480,000
6.5%
$5,980,000
7%
$5,555,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,250,000
Current use
COMMERCIAL (GENERAL)
$9,685,000
Change: +5% · Conversion: Easy
RESTAURANT
$8,575,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$6.46M
Range $5.81M – $7.11M · ±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
$233 / 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
$171,775
Tax year 2023
Assessed value
$12,271,400
Assessed 2023
Previous assessed
$12,271,400
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$2,454,277
Assessed improvement
$9,817,123
Land market value
$2,454,277
Improvement market value
$9,817,123
Total market value
$12,271,400
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Total area
27,690 SF
Lot
0.21 ac (9,314 SF)
Zoning code
CMX5
APN
88-2-0372-30
UPID
US73-1622211
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
OFFICE BUILDING Current
Est. value
$9.3M
COMMERCIAL (GENERAL)
Est. value
$9.7M
RESTAURANT
Est. value
$8.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
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
1924
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Lot
0.21 ac
Current owner
From public records · entity-resolved
1805 Retail Partners
Entity
Mailing address
1845 WALNUT ST STE #2200, PHILADELPHIA, PA 19103-4722
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2008
$12,375,000
1805 Retail Partners
Philadelphia East Orange
Trustees Deed
$9,500,000 · Susquehanna Bk
May 12, 2008
—
1805 Retail Partners
—
Loan Modification
related
$9,500,000 · Susquehanna Bk
Aug 15, 2005
$7,734,375
Philadelphia East Orange LP
Philadelphia Barnes Trust
Special Warranty Deed
$1,000,000 · Manufacturers & Traders Trust Co
Mar 4, 2004
$6,067,000
Philadelphia,barnes Trust
1805 Walnut Investors
Trustees Deed
$5,300,000 · Manufacturers & Traders Tr
—
—
1805 Retail Partners LP
—
Deed Of Trust
related
$17,000,000 · Rait Ptshp
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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