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Property profile & analytics
FOR LEASE
Office buildings
3600 Neill Dr Philadelphia, PA 19131
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-5786050
For Lease
1 / 2
$14,840,000
3600 Neill Dr, Philadelphia, PA 19131
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
72,750 SF
Lot
3.92 ac (170,755 SF)
Zoning code
CMX2
APN
88-3-0861-01
UPID
US73-5786050
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
by Request
CAP Approach
CAP
$15.71M
Comparable Approach
Comparable
$18.51M
Blend (final)
Blend
$14.84M
Owner & transaction history
Kre Mreg City Ave Owner LLC · 3 yrs held
Kre Mreg City Ave Owner LLC
since 2022
Last sale
$15.0M
6 recorded transactions
Zoning & alternative use
CMX2 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$22.5M
+21.7%
Apartment house (5+ units)
$20.2M
+9.3%
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
$13,660,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,020,000
6.5%
$15,710,000
7%
$14,590,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$18,510,000
Current use
RESTAURANT
$22,525,000
Change: +22% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$20,235,000
Change: +9% · Conversion: Easy
MEDICAL BUILDING
$17,865,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$14.84M
Range $13.36M – $16.32M · ±10% · vs last sale $15.00M (Oct 13 2022)
Last sale anchor
$15.00M
Oct 13 2022
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
$204 / 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
$121,554
Tax year 2023
Previous assessed
$8,683,648
Total market value
$9,968,500
Applied tax rate
52.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Total area
72,750 SF
Lot
3.92 ac (170,755 SF)
Zoning code
CMX2
APN
88-3-0861-01
UPID
US73-5786050
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CMX2 · Philadelphia, PA
Zoning CMX2 · permitted uses
CMX2 · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Philadelphia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$18.5M
RESTAURANT
Est. value
$22.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.2M
MEDICAL BUILDING
Est. value
$17.9M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Lot
3.92 ac
Current owner
From public records · entity-resolved
Kre Mreg City Ave Owner LLC
Entity
Mailing address
30 HUDSON YARDS, NEW YORK, NY 10001-2170
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2022
$15,000,000
Kre Mreg City Ave Owner LLC
Post Monroe Property Owner LLC
Special Warranty Deed
—
Sep 17, 2019
—
Post Monroe Property Owner LLC
Post Monroe LP
Quit Claim Deed
$217,600,000 · Societe Generale Financial Corp
Feb 5, 2018
—
Post Presidential Prop Owner L
—
Grant Deed
related
$240,000,000 · Natixis New York Branch
May 13, 2015
$2,600,000
Post Monroe LP
Nai Geis Realty Group
Grant Deed
—
Jul 27, 2006
$7,975,000
Bldg Monroe
Lad Presidential III
Grant Deed
—
—
—
Bldg Monroe
—
Deed Of Trust
related
$6,127,000 · Arcs Commercial Mortgage Co LP
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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