Sign Up Successful!
You now have access to more from Realmo!
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

    216 48th St Philadelphia, PA 19139-4324

    • Apartment buildings
    • 265,344 SF
    • 0.63 lot acres
    OFF-MARKET
    Value Estimations
    $8,110,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2194500
    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

    • Loud Cloud Recording Studio / Recording Studio
    • GrayRand Systems llc / Law Firm
    • Teachable Moments Childcare / Daycare Center
    • Madison Apartments / Apartment Building / Apartment Complex
    • COSTUMES / (Bike/Boat/Book/etc) Store

    Property Details for 216 48th St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.63 lot acres
    Property size
    265,344 SF
    Zone code
    RM1
    Property type
    Apartment buildings
    APN
    88-1-1440-25
    APU
    881144025

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $8,786,000
      Market price range: $8.56M - $33.2M

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.2182
    Latitude
    39.9553
    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
    $142,032
    $1,521,990
    $8,624,610
    $10,146,600
    -
    $1,521,990
    $8,624,610
    $10,146,600

    Comparable in this City

    • Value Estimation
      $560,000
      6,081 SF

      301 52nd St

      APARTMENT HOUSE (5+ UNITS) • 6,081 SF
      301 52nd St, Philadelphia, PA 19139-1563
      View Details
    • Value Estimation
      $3,640,000
      38,676 SF

      125 46th St, Unit 29

      APARTMENT HOUSE (5+ UNITS) • 38,676 SF
      125 46th St, Philadelphia, PA 19139-3895
      View Details
    • Value Estimation
      $580,000
      13,923 SF

      700 46th St, Unit 26

      APARTMENT HOUSE (5+ UNITS) • 13,923 SF
      700 46th St, Philadelphia, PA 19139-1900
      View Details
    • Value Estimation
      $18,090,000
      192,236 SF

      4800 Brown St

      APARTMENT HOUSE (5+ UNITS) • 192,236 SF
      4800 Brown St, Philadelphia, PA 19139-2105
      View Details
    • Value Estimation
      $2,595,000
      27,549 SF

      317 52nd St, Unit 19

      APARTMENT HOUSE (5+ UNITS) • 27,549 SF
      317 52nd St, Philadelphia, PA 19139-1520
      View Details
    • Value Estimation
      $880,000
      9,360 SF

      4520 Walnut St, Unit 22

      APARTMENT HOUSE (5+ UNITS) • 9,360 SF
      4520 Walnut St, Philadelphia, PA 19139-4599
      View Details

    Similar Nearby for Sale

    • $1,600,000
      6,000 SF

      West Philly Multifamily Investment

      8-unit apartment building, value-add opportunity.
      257 46Th St, Philadelphia, PA 19139
      View Details
    • $595,000
      2,700 SF

      Modern Triplex in West Philadelphia

      New construction triplex in a high-growth Philadelphia corridor.
      5136 Ranstead St, Philadelphia, PA 19139
      View Details
    • $194,580

      Turnkey Philadelphia Duplex Investment

      Fully occupied duplex with modern amenities, generating immediate cash flow.
      243 N Robinson St, Philadelphia, PA 19139
      View Details
    • $224,000
      1,020 SF

      Philadelphia Multi-Family Duplex Investment

      Turn-key duplex in Philadelphia generating $1,790 monthly income.
      34 N Frazier St, Philadelphia, PA 19139
      View Details
    • $314,900
      1,216 SF

      Philadelphia Duplex with Rental Potential

      Well-maintained duplex near Chestnut Street with a finished basement rental.
      128 S 57Th St, Philadelphia, PA 19139
      View Details
    • $349,500
      1,620 SF

      West Philly Duplex Opportunity

      Two-unit building near Penn, Drexel, and Clark Park.
      5214 Spruce St, Philadelphia, PA 19139
      View Details

    Similar Nearby for Lease

    • $1,775 /Mo

      Spacious 3-Bedroom Apartment in Philadelphia

      Conveniently located 3-bedroom apartment near University City and Penn Hospital.
      217 S 47Th St, Philadelphia, PA 19139
      View Details
    • $2,250 /Mo
      1,600 SF

      Spacious Five-Bedroom West Philadelphia Home

      Comfortable, renovated five-bedroom home in West Philadelphia near amenities.
      142 N 53Rd St, Philadelphia, PA 19139
      View Details
    • $2,200 /Mo

      Renovated Townhome in Walnut Hill

      Move-in ready townhome with modern amenities, convenient location.
      5009 Irving St, Philadelphia, PA 19139
      View Details
    • $1,500 /Mo
      1,914 SF

      West Philly Home For Rent

      Home for rent in West Philly, convenient to transportation.
      10 S 62Nd St, Philadelphia, PA 19139
      View Details
    • $12 SF/Yr
      3,000 SF

      Walnut Street Retail Space - Philly

      Prime Philly Retail/Office Space. Ready for Occupancy.
      5118 Walnut St, Philadelphia, PA 19139
      View Details
    • $12 SF/Yr
      3,000 SF

      Unique Auditorium Space for Lease

      Creative commercial lease in West Lofts near universities.
      220 S 47Th St, Philadelphia, PA 19139
      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.
    216 48th St
    Philadelphia, PA 19139-4324
    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.