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Property profile & analytics
OFF-MARKET
Estimated value
$7,505,000
Office buildings
216 Somerset St Philadelphia, PA 19133-3534
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US73-0238572
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1923
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
38,390 SF
Lot
0.18 ac (7,852 SF)
Zoning code
ICMX
APN
88-3-3791-30
UPID
US73-0238572
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
-
Congreso de Latinos Unidos Charitable Organization Social Service Agency
-
JCE Post Office
-
KATIUSCHKA NUNEZ Pediatrician Physician
-
Lauren Dicair Foster Care Service Social Service Agency
-
Metzler Sylvia Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.77M
Blend (final)
Blend
$7.51M
Owner & transaction history
216 Somerset Company · 5 yrs held
216 Somerset Company
since 2021
5 recorded transactions
Zoning & alternative use
ICMX · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ICMX, Industrial Commercial Mixed-Use District. 299 The ICMX, Industrial Commercial Mixed-Use district is primarily intended to accommodate commercial and low-impact industrial uses. The district may serve as a buffer between Industrial districts and Commercial and Residential Districts. (.3)
Zone name
Industrial Commercial Mixed Use
General category
MIXED_USE
Zone area
1,458.50 ac
Top alternative use upside
Restaurant
$11.9M
+21.7%
Apartment house (5+ units)
$10.7M
+9.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,765,000
Current use
RESTAURANT
$11,885,000
Change: +22% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$10,675,000
Change: +9% · Conversion: Easy
MEDICAL BUILDING
$9,425,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$7.51M
Range $6.75M – $8.26M · ±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
$195 / 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
$17,067
Tax year 2023
Previous assessed
$1,219,239
Total market value
$3,381,900
Applied tax rate
19.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1923
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
5
Total area
38,390 SF
Lot
0.18 ac (7,852 SF)
Zoning code
ICMX
APN
88-3-3791-30
UPID
US73-0238572
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
ICMX · Philadelphia, PAZoning ICMX · permitted uses
ICMX · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ICMX, Industrial Commercial Mixed-Use District. 299 The ICMX, Industrial Commercial Mixed-Use district is primarily intended to accommodate commercial and low-impact industrial uses. The district may serve as a buffer between Industrial districts and Commercial and Residential Districts. (.3)
Zone name
Industrial Commercial Mixed Use
General category
MIXED_USE
Zone area
1,458.50 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.8M
RESTAURANT
Est. value
$11.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.7M
MEDICAL BUILDING
Est. value
$9.4M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1923
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
5
Lot
0.18 ac
Current owner
From public records · entity-resolved
216 Somerset Company
Entity
Mailing address
216 W SOMERSET ST, PHILADELPHIA, PA 19133-3534
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Jul 27, 2021
—
216 Somerset Company
—
Deed
related
$2,560,000 · Td Bank NA
Dec 3, 2018
—
216 Somerset Co
—
Deed
related
$1,922,000 · Td Bk NA
May 17, 2011
—
216 Somerset Co
—
Deed Of Trust
related
$2,000,000 · Pidc Local Development Corp
—
—
216 Somerset Co
—
Deed Of Trust
related
$1,922,000 · Td Bk NA
—
—
216 Somerset Co
—
Deed Of Trust
related
$700,000 · Pidc Local Development Corp
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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