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

    2650 15th St Philadelphia, PA 19145-4613

    • Turn key restaurants
    • 1,728 SF
    • 0.02 lot acres
    OFF-MARKET
    Last Sale
    Feb 01, 2022
    $450,000
    Value Estimations
    $425,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4982459
    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

    • Saffron Patch - Authentic Indian Restaurant in South Philly / Indian Restaurant / Halal Restaurant

    Property Details for 2650 15th St

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.02 lot acres
    Property size
    1,728 SF
    Zone code
    CMX1
    Property type
    Turn key restaurants
    APN
    88-2-9718-60
    APU
    882971860

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $410,000
      ML approach
      $415,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $472,000
      Market price range: $195k - $851k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $535,000
      Current use
      OFFICE BUILDING
      $440,000
      Change: -18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1732
    Latitude
    39.9173
    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
    $4,764
    $68,055
    $272,245
    $340,300
    -
    $68,055
    $272,245
    $340,300

    Comparable in this City

    • Value Estimation
      $425,000
      3,318 SF

      2216 Passyunk Ave

      RESTAURANT • 3,318 SF
      2216 Passyunk Ave, Philadelphia, PA 19145-3318
      View Details
    • Value Estimation
      $370,000
      6,886 SF

      3100 20th St

      RESTAURANT • 6,886 SF
      3100 20th St, Philadelphia, PA 19145
      View Details
    • Value Estimation
      $465,000
      1,680 SF

      2200 Broad St

      RESTAURANT • 1,680 SF
      2200 Broad St, Philadelphia, PA 19145-3923
      View Details
    • Value Estimation
      $580,000
      23,337 SF

      1526 Packer Ave

      RESTAURANT • 23,337 SF
      1526 Packer Ave, Philadelphia, PA 19145-5407
      View Details
    • Value Estimation
      $210,000
      2,288 SF

      1939 Bancroft St

      RESTAURANT • 2,288 SF
      1939 Bancroft St, Philadelphia, PA 19145-3014
      View Details
    • Value Estimation
      $690,000
      6,858 SF

      1501 Snyder Ave, Unit 11

      RESTAURANT • 6,858 SF
      1501 Snyder Ave, Philadelphia, PA 19145-3023
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space Available For Sale

      Retail property with dedicated entrance and ample parking.
      2298 West Ritner St, Philadelphia, PA 19145
      View Details
    • $450,000

      Spacious Garage in Point Breeze

      4,288 SF garage space with endless possibilities in Philadelphia.
      1908 Morris St St, Philadelphia, PA 19145
      View Details
    • $869,999
      3,805 SF

      Mixed-Use Building with Skyline View

      Mixed-use property with residential and commercial units in Philadelphia.
      1545 W Passyunk Ave, Philadelphia, PA 19145
      View Details
    • Contact for pricing

      Prime Retail Space in Philadelphia

      Premier power center with expansion potential and easy access.
      S 23Rd 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

    Similar Nearby for Lease

    • Contact for pricing
      8,150 SF

      Clock Tower Retail Opportunity

      Redeveloped South Philadelphia campus with retail and creative space.
      2290 Oregon Ave, Philadelphia, PA 19145
      View Details
    • $1,500 /Mo

      Commercial Kitchen in Point Breeze

      Corner lot with commercial kitchen in booming Point Breeze.
      1839 S 19Th St, Philadelphia, PA 19145
      View Details
    • Contact for pricing
      17,228 SF

      Girard Plaza Retail Space For Lease

      Prime Philadelphia Retail Opportunity, 17,228 SF
      2201-25 Oregon Ave, Philadelphia, PA 19145
      View Details
    • Contact for pricing
      90,000 SF

      Quartermaster Plaza: Retail Power Center

      Philadelphia Retail Space Available; 8 Units
      0 23Rd St, Philadelphia, PA 19145
      View Details
    • $1,500 /Mo
      1,307 SF

      Mixed-Use Property with Commercial Space

      Mixed-use property in West Passyunk with residential and commercial units.
      1709 Snyder Ave, Philadelphia, PA 19145
      View Details
    • Contact for pricing
      456,154 SF

      Quartermaster Plaza Retail Space

      South Philly Power Center: 10,200 SF Available
      2280 Oregon Ave, Philadelphia, PA 19145
      View Details

    Property Visit Statistics

    • Visits by month
      19.1k
    • Visitors by month
      10.1k
    • Avg Time on site
      6 min
    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.
    2650 15th St
    Philadelphia, PA 19145-4613
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.