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Property profile & analytics
OFF-MARKET
Estimated value
$5,535,000
Apartment buildings
2809 Queen Ln Philadelphia, PA 19129-1051
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-2729122
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1932
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,584 SF
Lot
0.27 ac (11,850 SF)
Zoning code
RM2
APN
88-1-1359-75
UPID
US73-2729122
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
-
Queen Lane Manor Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.25M
CAP Approach
CAP
$6.19M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.54M
Owner & transaction history
Rg Quaker Queen Lane LP · 4 yrs held
Rg Quaker Queen Lane LP
since 2021
Last sale
$4.4M
2 recorded transactions
Zoning & alternative use
RM2 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Residential Multi Family districts are primarily intended to accommodate moderate to high density, multi unit residential buildings in areas where such development already exists or where it is desired in the future
Zone name
Residential Multifamily
General category
RESIDENTIAL
Zone area
1,347.66 ac
Source
Realmo
Top alternative use upside
Restaurant
$7.9M
+11.3%
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
$6,160,000
ML approach
$6,245,000
CAP Approach
CAP Return
Estimation
6%
$6,705,000
6.5%
$6,190,000
7%
$5,750,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$7,115,000
Current use
RESTAURANT
$7,920,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$6,510,000
Change: -9% · Conversion: Moderate
MEDICAL BUILDING
$6,280,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$5.54M
Range $4.98M – $6.09M · ±10% · vs last sale $4.40M (Dec 14 2021)
Last sale anchor
$4.40M
Dec 14 2021
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
$216 / 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
$52,231
Tax year 2023
Assessed value
$3,731,300
Assessed 2023
Previous assessed
$3,731,300
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$1,119,390
Assessed improvement
$2,611,910
Land market value
$1,119,390
Improvement market value
$2,611,910
Total market value
$3,731,300
Applied tax rate
38.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1932
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
4
Total area
25,584 SF
Lot
0.27 ac (11,850 SF)
Zoning code
RM2
APN
88-1-1359-75
UPID
US73-2729122
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
RM2 · Philadelphia, PAZoning RM2 · permitted uses
RM2 · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Residential Multi Family districts are primarily intended to accommodate moderate to high density, multi unit residential buildings in areas where such development already exists or where it is desired in the future
Zone name
Residential Multifamily
General category
RESIDENTIAL
Zone area
1,347.66 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.1M
RESTAURANT
Est. value
$7.9M
OFFICE BUILDING
Est. value
$6.5M
MEDICAL BUILDING
Est. value
$6.3M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
MEDICAL 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
1932
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
4
Lot
0.27 ac
Current owner
From public records · entity-resolved
Rg Quaker Queen Lane LP
Entity
Mailing address
437 W SCHOOL HOUSE LN, PHILADELPHIA, PA 19144-4553
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2021
$4,400,000
Rg Quaker Queen Lane LP
Sustain Qlm LP
Special Warranty Deed
$3,736,000 · Howard Bank
Nov 12, 2014
$2,900,000
Sustain Qlm LP
Queen Lane Manor Associates
Deed
$2,400,000 · Fox Chase Bank
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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