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    Property profile & analytics

    2701 Magee Ave Philadelphia, PA 19149

    • Grocery and convenience stores
    • 52,380 SF
    • 3.51 lot acres
    OFF-MARKET
    Value Estimations
    $8,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1561885
    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

    • Grocery and convenience stores

    Property Details for 2701 Magee Ave

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.51 lot acres
    Property size
    52,380 SF
    Zone code
    CA2
    Property type
    Grocery and convenience stores
    APN
    88-2-1295-00
    APU
    882129500

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,865,000
      6.5%
      $9,110,000
      7%
      $8,455,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $9,908,000
      Market price range: $5.35M - $10.7M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $12,310,000
      Current use
      OFFICE BUILDING
      $13,325,000
      Change: +8% Conversion: Easy
      MEDICAL BUILDING
      $12,860,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.0629
    Latitude
    40.0359
    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
    $129,549
    $1,850,963
    $7,403,837
    $9,254,800
    -
    $1,850,963
    $7,403,837
    $9,254,800

    Comparable in this City

    • Value Estimation
      $2,550,000
      14,866 SF

      6412 Castor Ave, Unit 22

      GROCERY, SUPERMARKET • 14,866 SF
      6412 Castor Ave, Philadelphia, PA 19149-2755
      View Details
    • Value Estimation
      $8,425,000
      51,078 SF

      7133rd Roosevelt Blvd

      GROCERY, SUPERMARKET • 51,078 SF
      7133rd Roosevelt Blvd, Philadelphia, PA 19149-1431
      View Details
    • Value Estimation
      $605,000
      3,848 SF

      2261 Cottman Ave

      FINANCIAL BUILDING • 3,848 SF
      2261 Cottman Ave, Philadelphia, PA 19149-1204
      View Details
    • Value Estimation by Request
      1,332 SF

      2808 Cottman Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,332 SF
      2808 Cottman Ave, Philadelphia, PA 19149-1419
      View Details
    • Value Estimation
      $1,650,000
      8,400 SF

      5700 Oxford Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,400 SF
      5700 Oxford Ave, Philadelphia, PA 19149-3720
      View Details
    • Value Estimation by Request
      1,206 SF

      2827 Tyson Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,206 SF
      2827 Tyson Ave, Philadelphia, PA 19149-1415
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space in Philadelphia

      Retail opportunity in dense Northeast Philadelphia retail area.
      Cottman Ave & Bustleton Ave, Philadelphia, PA 19149
      View Details
    • New
      $40,000
      20.87 Acres

      Turn-Key Kiosk in Cottman Mall

      Kiosk business for sale in busy retail hub.
      2327 Cottman Ave, Philadelphia, PA 19149
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    • $425,000
      2,583 SF

      Philadelphia Triplex Investment Opportunity

      End unit triplex in Philadelphia, ideal for investors or homebuyers.
      2938 Devereaux Ave, Philadelphia, PA 19149
      View Details
    • $499,000
      1,120 SF

      Castor Avenue Commercial Property

      Philadelphia Commercial Space, 1120 sq ft
      7008 Castor Ave, Philadelphia, PA 19149
      View Details
    • $319,900
      1,520 SF

      Income-Producing Duplex in Mayfair

      Fully leased duplex in Northeast Philadelphia with long-term upside.
      6014 Oakland St, Philadelphia, PA 19149
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    Similar Nearby for Lease

    • Contact for pricing
      144 SF

      Retail Space in High-Traffic Location

      Retail space in a busy Philadelphia shopping center for lease.
      2329 Cottman Ave, Philadelphia, PA 19149
      View Details
    • Contact for pricing
      70,110 SF

      Prime Retail Frontage on Roosevelt

      High-visibility retail space on a busy Philadelphia corridor.
      7101 Roosevelt Blvd, Philadelphia, PA 19149
      View Details
    • $7,250 /Mo
      2,178 SF

      Prime Retail Location on Castor

      Prime business location in the heart of Castor Gardens.
      6625 Castor Ave, Philadelphia, PA 19149
      View Details
    • Contact for pricing
      838,000 SF

      Cottman Ave & Bustleton Ave

      Retail space • 838,000 SF
      0 Cottman Ave & Bustleton Ave, Philadelphia, PA 19149
      View Details
    • $3,000 /Mo
      909,097 SF

      Cottman Mall Retail Kiosk

      Retail kiosk with turn-key kitchen in busy Cottman Mall.
      2327 Cottman Ave, Philadelphia, PA 19149
      View Details
    • Contact for pricing
      2,084 SF

      Retail Space in Northeast Philadelphia

      Retail space available in a vibrant, high-traffic Philadelphia location.
      2118 Cottman Ave, Philadelphia, PA 19149
      View Details
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    2701 Magee Ave
    Philadelphia, PA 19149
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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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