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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Office buildings
4623 Spruce St Philadelphia, PA 19139-4542
Entity Owned
6-yr Hold
Free & Clear
Property ID
US73-2045603
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,200 SF
Lot
0.07 ac (2,962 SF)
Zoning code
RSA3
APN
88-3-8330-00
UPID
US73-2045603
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
-
Lisa Schaffer, DO Physician
-
Dr. Tamara L. Welch, MD Physician
-
Gerard Hart, MD Pediatrician Physician
-
Spindle Medical (Bike/Boat/Book/etc) Store Corporate Office
-
SoundMind Institute Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
$690k
Comparable Approach
Comparable
$581k
Blend (final)
Blend
$515k
Owner & transaction history
Vajra Ventures LLC · 6 yrs held
Vajra Ventures LLC
since 2020
Last sale
$515,000
2 recorded transactions
Zoning & alternative use
RSA3 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Residential Single Family Attached districts are primarily intended to accommodate attached and semi detached houses on individual lots, but may be applied in areas characterized by a mix of housing types, including detached houses
Zone name
Residential Single Family Attached
General category
RESIDENTIAL
Zone area
6,038.31 ac
Source
Realmo
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
$515,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
$750,000
6.5%
$690,000
7%
$640,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$815,000
Current use
MEDICAL BUILDING
$785,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±10% · vs last sale $515k (Jan 30 2020)
Last sale anchor
$515k
Jan 30 2020
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
$161 / 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
$10,027
Tax year 2023
Assessed value
$716,300
Assessed 2023
Previous assessed
$716,300
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$143,260
Assessed improvement
$573,040
Land market value
$143,260
Improvement market value
$573,040
Total market value
$716,300
Applied tax rate
46.0000
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
Off-Market
Year built
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
4
Total area
3,200 SF
Lot
0.07 ac (2,962 SF)
Zoning code
RSA3
APN
88-3-8330-00
UPID
US73-2045603
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
RSA3 · Philadelphia, PAZoning RSA3 · permitted uses
RSA3 · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Residential Single Family Attached districts are primarily intended to accommodate attached and semi detached houses on individual lots, but may be applied in areas characterized by a mix of housing types, including detached houses
Zone name
Residential Single Family Attached
General category
RESIDENTIAL
Zone area
6,038.31 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$815,000
MEDICAL BUILDING
Est. value
$785,000
OFFICE BUILDING Current
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
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
4
Lot
0.07 ac
Current owner
From public records · entity-resolved
Vajra Ventures LLC
Entity
Free & Clear · 6 yrs held
Mailing address
449 S 51ST ST APT #5, PHILADELPHIA, PA 19143-1668
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 7, 2022
—
Vajra Ventures LLC
—
Deed
related
$675,000 · Meridian Bank
Jan 30, 2020
$515,000
Vajra Ventures LLC
David Nicklen
Grant Deed
—
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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