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Property profile & analytics
OFF-MARKET
Estimated value
$10,110,000
Strip malls
428 2nd St 58 Philadelphia, PA 19123-4201
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US73-0989058
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,162 SF
Lot
1.44 ac (62,639 SF)
Zoning code
CMX3
APN
88-2-9180-71
UPID
US73-0989058
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
-
IEI Group, Ltd. Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.21M
CAP Approach
CAP
$6.95M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.11M
Owner & transaction history
428 458 North 2nd Street Associates · 5 yrs held
428 458 North 2nd Street Associates
since 2021
Last sale
$13.0M
7 recorded transactions
Zoning & alternative use
CMX3 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.7M
+66.9%
Apartment house (5+ units)
$8.7M
+49.9%
Office building
$7.9M
+37.1%
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
$12,710,000
ML approach
$9,210,000
CAP Approach
CAP Return
Estimation
6%
$7,525,000
6.5%
$6,945,000
7%
$6,450,000
Alternative Use
Use
Estimation
RESTAURANT
$9,650,000
Change: +67% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,665,000
Change: +50% · Conversion: Difficult
OFFICE BUILDING
$7,930,000
Change: +37% · Conversion: Moderate
MEDICAL BUILDING
$7,650,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,805,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$10.11M
Range $9.10M – $11.12M · ±10% · vs last sale $13.00M (Apr 6 2021)
Last sale anchor
$13.00M
Apr 6 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
$324 / 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
$60,698
Tax year 2023
Assessed value
$4,336,200
Assessed 2023
Previous assessed
$4,336,200
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$867,238
Assessed improvement
$3,468,962
Land market value
$867,238
Improvement market value
$3,468,962
Total market value
$4,336,200
Applied tax rate
5.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
31,162 SF
Lot
1.44 ac (62,639 SF)
Zoning code
CMX3
APN
88-2-9180-71
UPID
US73-0989058
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CMX3 · Philadelphia, PA
Zoning CMX3 · permitted uses
CMX3 · 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
RESTAURANT
Est. value
$9.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.7M
OFFICE BUILDING
Est. value
$7.9M
MEDICAL BUILDING
Est. value
$7.7M
COMMERCIAL (GENERAL)
Est. value
$6.8M
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
1.44 ac
Current owner
From public records · entity-resolved
428 458 North 2nd Street Associates
Entity
Mailing address
515 MARIN BLVD, JERSEY CITY, NJ 07302-1733
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2021
$13,000,000
428 458 North 2nd Street Associates
428 458 N 2 LLC
Special Warranty Deed
$41,737,412 · Wells Fargo Bank NA
Oct 19, 2018
$10,150,000
Nh 428 458 N 2 LLC
North Second Street INC
Special Warranty Deed
$25,892,500 · Th Commercial Mortgage LLC
Dec 8, 2017
—
417 Callowhill INC
—
Deed
related
$651,961 · Republic First Bank
Nov 27, 2017
—
428-458 North Second Street In
—
Grant Deed
related
$5,625,000 · Republic Bk
Apr 4, 2013
—
North Second Street In 428-458
428-458 North Second Street In
Quit Claim Deed
—
Feb 4, 2009
—
417 Callowhill INC
—
Loan Modification
related
$4,630,472 · Republic First Bank
Aug 22, 2006
—
428-458 N 2nd St INC
—
Deed Of Trust
related
$1,100,000 · Republic First Bank
—
—
Golden Gate Electronics INC
—
Loan Modification
related
$500,000 · Republic First Bank
—
—
428-458 N 2nd St INC
—
Deed Of Trust
related
$250,000 · Republic First Bank
—
—
428-458 N 2nd St INC
—
Deed Of Trust
related
$750,000 · Republic First Bank
—
—
428-458 N 2nd St INC
—
Deed Of Trust
related
$3,679,522 · Republic First 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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