Add Listing
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

    29 2nd St Philadelphia, PA 19106-3036

    • Investment properties
    • 4,160 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Jan 06, 2023
    $1,650,000
    Value Estimations
    $1,455,000
    Show details
    Cap Rate Potential
    3.4%
    Investment properties
    Location Intelligence
    Property ID
    US73-0629668
    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

    • Jules Goldman Books And Art / (Bike/Boat/Book/etc) Store
    • Books & Art / (Bike/Boat/Book/etc) Store
    • Liberty Bell Food Market / Grocery & Convenience Store

    Property Details for 29 2nd St

    Year built
    1900
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.04 lot acres
    Property size
    4,160 SF
    Zone code
    CMX3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    87-1-0087-50
    APU
    871008750

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,465,000
      ML approach
      $1,435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,081,000
      Market price range: $824k - $1.29M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,035,000
      Current use
      OFFICE BUILDING
      $1,170,000
      Change: +13% Conversion: Easy
      MEDICAL BUILDING
      $1,020,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1436
    Latitude
    39.9491
    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
    $11,319
    $161,700
    $646,900
    $808,600
    -
    $161,700
    $646,900
    $808,600

    Comparable in this City

    • Value Estimation
      $815,000
      4,896 SF

      713 Sansom St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,896 SF
      713 Sansom St, Philadelphia, PA 19106-3230
      View Details
    • Value Estimation
      $875,000
      5,140 SF

      727 Sansom St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,140 SF
      727 Sansom St, Philadelphia, PA 19106-3259
      View Details
    • Value Estimation
      $1,115,000
      9,612 SF

      723 Sansom St

      OFFICE/RESIDENTIAL (MIXED USE) • 9,612 SF
      723 Sansom St, Philadelphia, PA 19106-3200
      View Details
    • Value Estimation
      $980,000
      6,288 SF

      718 Sansom St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,288 SF
      718 Sansom St, Philadelphia, PA 19106-3220
      View Details
    • Value Estimation
      $745,000
      3,488 SF

      720 Sansom St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,488 SF
      720 Sansom St, Philadelphia, PA 19106-3210
      View Details
    • Value Estimation
      $950,000
      7,829 SF

      731 Sansom St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,829 SF
      731 Sansom St, Philadelphia, PA 19106-3205
      View Details

    Similar Nearby for Sale

    • New
      $2,500,000
      6,520 SF

      Mixed-Use Building in Old City

      Mixed-use building in the heart of Old City, Philadelphia.
      215 Church St, Philadelphia, PA 19106
      View Details
    • $1,650,000
      5,160 SF

      Historic Mixed-Use Philadelphia Property

      Mixed-use property in Old City with residential and commercial spaces.
      239-00 Race St, Philadelphia, PA 19106
      View Details
    • $1,300,000
      1,422 SF

      Old City Restaurant Opportunity

      Restaurant property in the heart of Old City, Philadelphia.
      60 S 2Nd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      1,500 SF

      Historic Philly Storefront

      1,500 SF Retail/Medical Office
      136 2Nd St, Philadelphia, PA 19106
      View Details
    • $2,850,000
      31,930 SF

      Approved Old City Development Opportunity

      Approved development opportunity in Old City for 26 residential units.
      208-212 2Nd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      Pending

      Old City Commercial Space Available

      Office or retail space in a vibrant, high-traffic location.
      20 N 3Rd St, Philadelphia, PA 19106
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Mixed-Use Space in Philadelphia

      Live, work, and retail space available in Philadelphia.
      216 Church St, Philadelphia, PA 19106
      View Details
    • $22 SF/Yr
      1,184 SF

      Vine Street Retail Opportunity

      Multiple retail spaces available on Vine Street in Old City.
      219-229 Vine St, Philadelphia, PA 19106
      View Details
    • $2,300 /Mo

      Versatile Flex Space in Old City

      Spacious 3-level apartment with street-level access in historic Old City.
      107 Arch St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      3,352 SF

      Renovated Boutique Building in Old City

      Historic building with modern amenities in a prime location.
      303 Cherry St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      20,512 SF

      Midtown Village Retail Space Available

      Up to 40,000 SF available in Midtown Village.
      1125 Sansom St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      3,550 SF

      Philadelphia Office Space For Rent

      7,488 SF office space available for rent in Philadelphia.
      718-724 Arch St, Philadelphia, PA 19106
      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.
    29 2nd St
    Philadelphia, PA 19106-3036
    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.
    Sign Up Successful!
    You now have access to more from Realmo!