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Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Medical Office Space
2412 Passyunk Ave 14 Philadelphia, PA 19145-4114
Individually Owned
24-yr Hold
Free & Clear
Property ID
US73-2439598
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,900 SF
Lot
0.32 ac (13,924 SF)
Zoning code
ICMX
APN
88-2-9210-31
UPID
US73-2439598
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
-
Azura Vascular Care South Philadelphia Medical Clinic
-
Dr. James W. Thomas, MD Physician Medical Clinic
-
David Hertzog Physician Medical Clinic
-
Ali Ahmadinejad, MD Physician Medical Clinic
-
Dr. Douglas Troutman Physician Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.38M
Comparable Approach
Comparable
$870k
Blend (final)
Blend
$1.19M
Owner & transaction history
JOSEPH CIRO
JOSEPH CIRO
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
Apartment house (5+ units)
$1.9M
+13.3%
Office building
$1.8M
+3.6%
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%
$1,490,000
6.5%
$1,375,000
7%
$1,275,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,695,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,920,000
Change: +13% · Conversion: Moderate
OFFICE BUILDING
$1,755,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±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
$172 / 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
$14,824
Tax year 2023
Assessed value
$1,059,000
Assessed 2023
Previous assessed
$1,059,000
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$211,792
Assessed improvement
$847,208
Land market value
$211,792
Improvement market value
$847,208
Total market value
$1,059,000
Applied tax rate
26.0000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
6,900 SF
Lot
0.32 ac (13,924 SF)
Zoning code
ICMX
APN
88-2-9210-31
UPID
US73-2439598
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
MEDICAL BUILDING Current
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
JOSEPH CIRO
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 11919, PHILADELPHIA, PA 19145-0219
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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