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    Property profile & analytics

    2453 Grant Ave Philadelphia, PA 19114-1004

    • Strip malls
    • 29,207 SF
    • 2.93 lot acres
    OFF-MARKET
    Value Estimations
    $3,380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2296366
    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

    • Online Real Estate School Inc. / Vocational School / Training Center
    • Live Well Pharmacy / Pharmacy
    • Kung Fu Tea / Cafe & Coffee Shop

    Property Details for 2453 Grant Ave

    Year built
    2009
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.93 lot acres
    Property size
    29,207 SF
    Zone code
    CA1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    88-2-0695-30
    APU
    882069530

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $5,420,000
      Current use
      RETAIL STORES
      $5,010,000
      Change: -8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $4,605,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.0255
    Latitude
    40.08
    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
    $56,891
    $2,844,908
    $1,219,292
    $4,064,200
    -
    $2,844,908
    $1,219,292
    $4,064,200

    Comparable in this City

    • Value Estimation
      $5,065,000
      44,397 SF

      9200 Frankford Ave

      SHOPPING CENTER, STRIP CENTER • 44,397 SF
      9200 Frankford Ave, Philadelphia, PA 19114-2851
      View Details
    • Value Estimation
      $1,715,000
      15,000 SF

      3800 Morrell Ave, Unit 28

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      3800 Morrell Ave, Philadelphia, PA 19114-1915
      View Details
    • Value Estimation
      $12,300,000
      112,440 SF

      9910 Frankford Ave

      SHOPPING CENTER, STRIP CENTER • 112,440 SF
      9910 Frankford Ave, Philadelphia, PA 19114-1900
      View Details
    • Value Estimation
      $11,900,000
      143,342 SF

      3200 Red Lion Rd

      SHOPPING CENTER, STRIP CENTER • 143,342 SF
      3200 Red Lion Rd, Philadelphia, PA 19114-1129
      View Details
    • Value Estimation
      $9,705,000
      105,370 SF

      2500 Grant Ave, Unit 1

      SHOPPING CENTER, STRIP CENTER • 105,370 SF
      2500 Grant Ave, Philadelphia, PA 19114-2201
      View Details
    • Value Estimation
      $1,665,000
      14,581 SF

      3348 Grant Ave, Unit 62

      SHOPPING CENTER, STRIP CENTER • 14,581 SF
      3348 Grant Ave, Philadelphia, PA 19114-2614
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Retail spaces available in strategically located Philadelphia shopping center.
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      Retail Building at Frankford & Knights

      2,560 SF retail building in Northeast Philadelphia for sale.
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    • New
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      0.14 Acres

      East Torresdale Corner Lot Opportunity

      Large corner lot with building in prime Philadelphia location.
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      0.79 Acres

      Retail Property in Philadelphia

      Retail property available for sale in Philadelphia, Pennsylvania.
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      Former Retail Opportunity on Frankford

      Former retail property on high-traffic Frankford Avenue.
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      East Torresdale Corner Lot Building

      Large corner lot with building in prime location for sale.
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    Similar Nearby for Lease

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      3,200 SF

      Retail Space in Academy Plaza

      Retail space available in a busy Northeast Philadelphia shopping center.
      3268 Red Lion Rd, Philadelphia, PA 19114
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      6,426 SF

      Retail Space in Northeast Philadelphia

      Retail space available in a densely populated Philadelphia neighborhood.
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      745 SF

      Retail Space in Academy Plaza

      Retail space available within a busy Philadelphia shopping center.
      3294 Red Lion Rd, Philadelphia, PA 19114
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      3,375 SF

      Retail Space on Roosevelt Blvd

      Prime retail location with high traffic and excellent visibility.
      9475 Roosevelt Blvd, Philadelphia, PA 19114
      View Details
    • Contact for pricing
      32,033 SF

      Retail Space Near Otherworld

      Retail space available in shopping center near Otherworld.
      2500 Grant Ave, Philadelphia, PA 19114
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    • Contact for pricing

      Academy Plaza Retail Space Available

      Retail and dining options in Northeast Philadelphia.
      3250 Red Lion Rd, Philadelphia, PA 19114
      View Details
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    2453 Grant Ave
    Philadelphia, PA 19114-1004
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    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
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