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Property profile & analytics
OFF-MARKET
Estimated value
$8,800,000
Super regional malls
345 Scarlet Rd Ste 2 Kennett Square, PA 19348-2230
Entity Owned
2-yr Hold
Free & Clear
Property ID
US73-0571965
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1978
Total area
81,872 SF
Lot
10.66 ac (464,437 SF)
Zoning code
CI
APN
6002 00970100
UPID
US73-0571965
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.80M
Owner & transaction history
Grocery Outlet INC · 2 yrs held
Grocery Outlet INC
since 2024
Last sale
$8.8M
3 recorded transactions
Zoning & alternative use
CI · Kennett Square, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.9M
+265.5%
Commercial (general)
$8.9M
+264.3%
Office building
$6.9M
+182.8%
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 Kennett Square submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kennett Square 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
$8,800,000
ML approach
$8,800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$8,910,000
Change: +265% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,885,000
Change: +264% · Conversion: Easy
OFFICE BUILDING
$6,895,000
Change: +183% · Conversion: Moderate
AUTO REPAIR, GARAGE
$6,720,000
Change: +176% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,300,000
Change: +117% · Conversion: Difficult
Blend value · Realmo final
$8.80M
Range $7.92M – $9.68M · ±10% · vs last sale $8.80M (May 20 2024)
Last sale anchor
$8.80M
May 20 2024
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
$107 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$134,960
Tax year 2024
Assessed value
$3,369,913
Assessed 2024
Previous assessed
$3,369,913
+0.0% YoY
Effective rate
4.00%
On assessed value
Assessed land
$1,018,300
Assessed improvement
$2,351,613
Land market value
$1,018,300
Improvement market value
$2,608,863
Total market value
$3,627,163
Applied tax rate
60.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1978
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
13
Total area
81,872 SF
Lot
10.66 ac (464,437 SF)
Zoning code
CI
APN
6002 00970100
UPID
US73-0571965
Jurisdiction
CHESTER
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CI · Kennett Square, PA
Zoning CI · permitted uses
CI · Kennett Square, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kennett Square. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$8.9M
COMMERCIAL (GENERAL)
Est. value
$8.9M
OFFICE BUILDING
Est. value
$6.9M
AUTO REPAIR, GARAGE
Est. value
$6.7M
WAREHOUSE, STORAGE
Est. value
$5.3M
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1978
Heating
HEAT PUMP
Cooling
Yes
Buildings
13
Lot
10.66 ac
Current owner
From public records · entity-resolved
Grocery Outlet INC
Entity
Free & Clear · 2 yrs held
Mailing address
5650 HOLLIS ST, EMERYVILLE, CA 94608-2597
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2024
—
Grocery Outlet INC
Garden Shopping Center LLC
Lease
—
Aug 11, 2010
—
Centro Np New Garden Sc Owner LLC
New Plan Realty Trust LLC
Special Warranty Deed
$485,000,000 · Jpmorgan Chase Bank NA
—
—
Swartz Debra C
—
Deed Of Trust
related
$28,000 · Ing Bank Fsb
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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