Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,295,000
Warehouses
2231 62nd St Philadelphia, PA 19142-3227
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US73-1769812
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
47,336 SF
Lot
6.14 ac (267,415 SF)
Zoning code
ICMX
APN
88-4-1564-50
UPID
US73-1769812
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
-
CubeSmart Self Storage Storage Facility
-
Winwright LLC School Bus Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.49M
CAP Approach
CAP
$5.51M
Comparable Approach
Comparable
$5.56M
Blend (final)
Blend
$5.30M
Owner & transaction history
Mhc 331 Philadelphia Pa LLC · 1 yrs held
Mhc 331 Philadelphia Pa LLC
since 2025
Last sale
$5.1M
7 recorded transactions
Zoning & alternative use
ICMX · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$8.8M
+44.1%
Retail stores
$8.1M
+33.1%
Auto repair, garage
$7.5M
+22.5%
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
$5,220,000
ML approach
$4,485,000
CAP Approach
CAP Return
Estimation
6%
$5,965,000
6.5%
$5,505,000
7%
$5,110,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,095,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$8,780,000
Change: +44% · Conversion: Moderate
RETAIL STORES
$8,115,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,465,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$5.30M
Range $4.77M – $5.82M · ±10% · vs last sale $5.10M (Jan 7 2025)
Last sale anchor
$5.10M
Jan 7 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
$112 / 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
$60,191
Tax year 2023
Assessed value
$4,300,000
Assessed 2023
Previous assessed
$4,300,000
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$1,290,000
Assessed improvement
$3,010,000
Land market value
$1,290,000
Improvement market value
$3,010,000
Total market value
$4,300,000
Applied tax rate
40.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
47,336 SF
Lot
6.14 ac (267,415 SF)
Zoning code
ICMX
APN
88-4-1564-50
UPID
US73-1769812
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
ICMX · Philadelphia, PA
Zoning ICMX · permitted uses
ICMX · 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
WAREHOUSE, STORAGE Current
Est. value
$6.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.8M
RETAIL STORES
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$7.5M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
6.14 ac
Current owner
From public records · entity-resolved
Mhc 331 Philadelphia Pa LLC
Entity
Mailing address
83 RAILROAD PL #85, SARATOGA SPRINGS, NY 12866-2124
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
Apr 7, 2025
$5,100,000
Mhc 331 Philadelphia Pa LLC
Mhc 83 Hw Portfolio LLC
Deed
$174,000,000 · Breds V Loan Holdings Ms LLC
Apr 7, 2025
—
Mhc El Dorado Trs LLC
Mhc 331 Philadelphia Pa LLC
Deed
—
Feb 23, 2022
—
Mhc 83 Hw Portfolio LLC
—
Deed
related
$615,000,000 · Jpmorgan Chase Bank NA
Dec 7, 2020
$5,208,085
Mhc 83 LLC
Prime 62nd St LLC
Grant Deed
—
Dec 7, 2020
—
Mhc 83 LLC
Prime 62nd St LLC
Quit Claim Deed
related
$120,000,000 · Mhc Hw Master Trs LLC
Nov 3, 2015
$5,570,000
Prime 62nd St LLC
Locker Room Storage INC
Deed
$130,000 · Rialto Mortgage Finance
Jan 9, 2004
—
Locker Room Storage INC
—
Deed Of Trust
related
$7,700,000 · Bryn Mawr Trust Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2231 62nd St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
