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Property profile & analytics
OFF-MARKET
Estimated value
$3,480,000
Strip malls
1916 Welsh Rd 28 Philadelphia, PA 19115-4655
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US73-2371387
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1984
Total area
15,950 SF
Lot
1.14 ac (49,702 SF)
Zoning code
CA1
APN
88-2-3968-00
UPID
US73-2371387
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
-
Bustleton Welsh Shopping Center Shopping Center & Mall
-
Colleen Kendrick Dental Office
-
De Stefano's Hairstyling Hair Salon
-
Chef Crab House Restaurant
-
Dr. Michael Mcdermott Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.56M
Comparable Approach
Comparable
$2.96M
Blend (final)
Blend
$3.48M
Owner & transaction history
Welsh Plaza LLC
Welsh Plaza LLC
since 2025
Last sale
$3.7M
7 recorded transactions
Zoning & alternative use
CA1 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.9M
+66.9%
Apartment house (5+ units)
$4.4M
+49.9%
Office building
$4.1M
+37.1%
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%
$3,850,000
6.5%
$3,555,000
7%
$3,300,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,960,000
Current use
RESTAURANT
$4,940,000
Change: +67% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,435,000
Change: +50% · Conversion: Difficult
OFFICE BUILDING
$4,060,000
Change: +37% · Conversion: Moderate
MEDICAL BUILDING
$3,915,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$2,735,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,515,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$3.48M
Range $3.13M – $3.83M · ±10% · vs last sale $3.70M (Dec 11 2025)
Last sale anchor
$3.70M
Dec 11 2025
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
$218 / 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
$31,067
Tax year 2023
Assessed value
$2,219,400
Assessed 2023
Previous assessed
$2,219,400
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$443,889
Assessed improvement
$1,775,511
Land market value
$443,889
Improvement market value
$1,775,511
Total market value
$2,219,400
Applied tax rate
56.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1984
Heating
NONE
Stories
2
Total area
15,950 SF
Lot
1.14 ac (49,702 SF)
Zoning code
CA1
APN
88-2-3968-00
UPID
US73-2371387
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CA1 · Philadelphia, PA
Zoning CA1 · permitted uses
CA1 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.0M
RESTAURANT
Est. value
$4.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
OFFICE BUILDING
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
1984
Heating
NONE
Stories
2
Lot
1.14 ac
Current owner
From public records · entity-resolved
Welsh Plaza LLC
Entity
Mailing address
2200 MICHENER ST, PHILADELPHIA, PA 19115-4374
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2025
$3,700,000
Welsh Plaza LLC
Bustleton Welsh Shopping Center INC
Special Warranty Deed
$2,200,000 · Asian Bank
Jun 9, 2025
—
Gabriel Real Estate Associates LP
—
Deed
related
$700,000 · Tk Management Services INC
Mar 2, 2017
—
Bustleton-welsh Shopping Center INC
—
Deed
related
$1,300,000 · Penn Community Bank
May 13, 2013
—
Bustleton-welsh Shopping Cente
—
Grant Deed
related
$1,185,000 · Susquehanna Bank
—
—
Bustleton Welsh Shopping Cente
—
Deed Of Trust
related
$600,000 · Third Fsb
—
—
Bustleton Welsh Shopping Cente
—
Deed Of Trust
related
$1,860,000 · Third Fsb
—
—
Bustleton-welsh Shopping Cente
—
Deed Of Trust
related
$720,000 · Susquehanna Bank
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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