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

    2412 Passyunk Ave, Unit 14 Philadelphia, PA 19145-4114

    • Medical offices
    • 6,900 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    $1,190,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2439598
    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

    • Azura Vascular Care South Philadelphia / Medical Center / Vascular Surgeon
    • Dr. James W. Thomas, MD / Radiologist
    • David Hertzog / Radiologist / Surgeon
    • Ali Ahmadinejad, MD / Radiologist
    • Dr. Douglas Troutman / Vascular Surgeon

    Property Details for 2412 Passyunk Ave

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.32 lot acres
    Property size
    6,900 SF
    Zone code
    ICMX
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    88-2-9210-31
    APU
    882921031

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,490,000
      6.5%
      $1,375,000
      7%
      $1,275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $869,000
      Market price range: $230k - $1.20M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1876
    Latitude
    39.9217
    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
    $14,824
    $211,792
    $847,208
    $1,059,000
    -
    $211,792
    $847,208
    $1,059,000

    Comparable in this City

    • Value Estimation
      $555,000
      3,108 SF

      1436 Passyunk Ave, Unit 46

      MEDICAL CLINIC • 3,108 SF
      1436 Passyunk Ave, Philadelphia, PA 19145-2312
      View Details
    • Value Estimation
      $2,470,000
      7,521 SF

      1900 Broad St

      MEDICAL CLINIC • 7,521 SF
      1900 Broad St, Philadelphia, PA 19145-2304
      View Details
    • Value Estimation by Request
      513,963 SF

      1930 Broad St

      HOSPITAL - PRIVATE • 513,963 SF
      1930 Broad St, Philadelphia, PA 19145-2328
      View Details
    • Value Estimation
      $3,925,000
      22,871 SF

      1700 Broad St, Unit 1

      HOSPITAL - PRIVATE • 22,871 SF
      1700 Broad St, Philadelphia, PA 19145-2340
      View Details
    • Value Estimation by Request
      2,550 SF

      1800 Morris St

      HOMES (RETIRED, NURSING) • 2,550 SF
      1800 Morris St, Philadelphia, PA 19145-2115
      View Details
    • Value Estimation
      $1,295,000
      7,714 SF

      1920 20th St, Unit 26

      HOSPITAL - PRIVATE • 7,714 SF
      1920 20th St, Philadelphia, PA 19145-2820
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.04 Acres

      Renovated Medical Office on Broad

      Turnkey medical office space in South Philadelphia with excellent access.
      1602 S Broad St, Philadelphia, PA 19145
      View Details
    • $475,000
      2,656 SF

      Mixed-Use Building with Office Space

      Three apartments and a ground-floor office in a prime location.
      1500 W Ritner St, Philadelphia, PA 19145
      View Details
    • $1,250,000
      8,000 SF

      Passyunk Ave Commercial Property

      Prime Philly location, high-income potential.
      1622-28 Passyunk Ave, Philadelphia, PA 19145
      View Details
    • $625,000
      3,060 SF

      South Philly Rental Portfolio

      Three-unit, fully leased investment
      1937 Croskey St, Philadelphia, PA 19145
      View Details
    • $55,000
      0.01 Acres

      Residential Land in Philadelphia, PA

      Land for sale in Philadelphia, PA.
      2822 Cantrell St, Philadelphia, PA 19145
      View Details
    • $2,149,000
      0.33 Acres

      Philadelphia Land Opportunity Near Development

      Large lot near development projects, suitable for multifamily construction.
      2127-33 Penrose Ave, Philadelphia, PA 19145
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      41,480 SF

      South Philly Medical Office Space

      Prime location, 5 suites available, ample parking.
      1900 Broad St, Philadelphia, PA 19145
      View Details
    • $1.00 SF/Yr
      276,184 SF

      South Philly Medical Office Complex

      Prime Medical & Office Space Available
      1930 Broad St, Philadelphia, PA 19145
      View Details
    • $2,400 /Mo
      1,307 SF

      Commercial Office Space For Rent

      Commercial office space available for rent on Broad Street.
      2428 S Broad St, Philadelphia, PA 19145
      View Details
    • $15 SF/Yr
      13,000 SF

      Established Office Building For Rent

      13,000 SF office building built in 1985 available for rent.
      2317 S 23Rd St, Philadelphia, PA 19145
      View Details
    • $1,495 /Mo
      1,307 SF

      Prime Location on South Broad

      High visibility office space in Passyunk Square & Point Breeze.
      1806 S Broad St, Philadelphia, PA 19145
      View Details
    • $22 SF/Yr
      8,120 SF

      Retail Space on Oregon Avenue

      Retail property available for lease in Philadelphia, PA.
      2017-2057 Oregon Ave, Philadelphia, PA 19145
      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.
    2412 Passyunk Ave, Unit 14
    Philadelphia, PA 19145-4114
    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.