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

    3231 2nd St, Unit 265 Philadelphia, PA 19140-5853

    • Office buildings
    • 17,352 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $1,580,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1273108
    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

    • Caribe Towers Inc / Assisted Living Facility
    • All American Home Care Agency - Philadelphia PA / Home Health Care Service / Home Help
    • Debt Quest USA / Bankruptcy Service / Credit Counseling Service

    Property Details for 3231 2nd St

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.08 lot acres
    Property size
    17,352 SF
    Zone code
    I2
    Property type
    Office buildings
    APN
    88-6-9060-01
    APU
    886906001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1327
    Latitude
    40.0002
    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
    $0.00
    $0.00
    $0.00
    $569,600
    -
    $0.00
    $0.00
    $569,600

    Comparable in this City

    • Value Estimation by Request
      0.15 Acres

      1410 Erie Ave

      OFFICE BUILDING • 0.15 Acres
      1410 Erie Ave, Philadelphia, PA 19140-4111
      View Details
    • Value Estimation
      $10,860,000
      108,010 SF

      3701 Broad St, Unit 3

      OFFICE BUILDING • 108,010 SF
      3701 Broad St, Philadelphia, PA 19140-3643
      View Details
    • Value Estimation
      $5,140,000
      30,000 SF

      133 Hunting Park Ave, Unit 43

      OFFICE BUILDING • 30,000 SF
      133 Hunting Park Ave, Philadelphia, PA 19140-2717
      View Details
    • Value Estimation by Request
      1,617 SF

      3961 9th St

      OFFICE BUILDING • 1,617 SF
      3961 9th St, Philadelphia, PA 19140-3133
      View Details
    • Value Estimation
      $1,845,000
      8,722 SF

      3634 Broad St, Unit 38

      OFFICE BUILDING • 8,722 SF
      3634 Broad St, Philadelphia, PA 19140-4136
      View Details
    • Value Estimation
      $1,090,000
      11,577 SF

      3525 Germantown Ave, Unit 29

      OFFICE BUILDING • 11,577 SF
      3525 Germantown Ave, Philadelphia, PA 19140-4223
      View Details

    Similar Nearby for Sale

    • $790,000
      9,500 SF

      Philadelphia Industrial Property

      9,500 SF Flex Space, Owner-User Ideal
      3435 5Th St, Philadelphia, PA 19140
      View Details
    • $1,950,000
      16,000 SF

      Philadelphia Warehouse Investment Opportunity

      16,000 SF Warehouse, 8.03% Cap Rate
      1901 Courtland St, Philadelphia, PA 19140
      View Details
    • Contact for pricing
      0.03 Acres

      Land For Sale Philadelphia

      Vacant land available in Philadelphia, Pennsylvania.
      3235 N Sydenham St, Philadelphia, PA 19140
      View Details
    • $85,000
      0.02 Acres

      Vacant Lot Development Opportunity

      Vacant lot zoned RSA5, ideal for residential development or investment.
      4215 N 6Th St, Philadelphia, PA 19140
      View Details
    • $114,800
      884 SF

      Updated Philadelphia Home For Sale

      Starter home or investment property with recent and planned upgrades.
      2204 Yelland St, Philadelphia, PA 19140
      View Details
    • $125,000
      0.03 Acres

      Development Opportunity Corner Lot

      Corner lot near Temple Health Science campus, Philadelphia, PA.
      1700 W Erie Ave, Philadelphia, PA 19140
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      17,154 SF

      Philadelphia Office Space For Rent

      Office space available for lease in Philadelphia, PA.
      3240 N Hancock St, Philadelphia, PA 19140
      View Details
    • $950 /Mo
      1,742 SF

      Versatile Commercial Space Near Hunting Park

      950 sq ft corner unit, ideal for workshop or studio.
      4359 N 9Th St, Philadelphia, PA 19140
      View Details
    • $1,500 /Mo
      1,307 SF

      Recently Renovated Storefront for Rent

      Storefront for rent, recently renovated, suitable for various businesses.
      3914 N 5Th St, Philadelphia, PA 19140
      View Details
    • Contact for pricing
      111,120 SF

      1007-1011 Butler St

      Distribution properties • 111,120 SF
      1007-1011 Butler St, Philadelphia, PA 19140
      View Details
    • Contact for pricing
      12,742 SF

      Philadelphia Warehouse For Lease

      12,742 SF Warehouse, Prime Location
      3325 9Th St, Philadelphia, PA 19140
      View Details
    • Contact for pricing
      10,347 SF

      Retail Space on Roosevelt Blvd

      Retail property with drive-in door and drive-thru on Roosevelt.
      8130 Roosevelt Blvd, Philadelphia, PA 19140
      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.
    3231 2nd St, Unit 265
    Philadelphia, PA 19140-5853
    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.