Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,435,000
Assisted living facilities
650 Edison Ave Philadelphia, PA 19116-1237
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US73-2610527
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
112,471 SF
Lot
3.31 ac (144,053 SF)
Zoning code
RSD1
APN
88-1-4360-10
UPID
US73-2610527
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
-
Somerton Nursing & Rehabilitation Center Nursing Home
-
Genesis Healthcare Nursing Home
-
Raymond Romsdahl Physician
-
Alyse Mccusker Physician
-
Accela Rehab and Care Center at Somerton Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.44M
Owner & transaction history
650 Edison Ave LLC · 7 yrs held
650 Edison Ave LLC
since 2019
7 recorded transactions
Zoning & alternative use
RSD1 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
as of the effective date of this Zoning Code. Table 14-401-1: Residential Districts 288 {For printable PDF version, click HERE } Map Symbol District Name Previously Known As Map Symbol District Name Previously Known As RSD-1 Residential Single-Family Detached-1 R1 RSD-2 Residential Single-Family Detached-2 R1A RSD-3 Residential Single-Family Detached-3 R2 RS…
Zone name
Residential Single Family Detached
General category
RESIDENTIAL
Zone area
2,820.36 ac
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$3,935,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,155,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.44M
Range $2.19M – $2.68M · ±10%
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
$22 / 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
$176,627
Tax year 2023
Assessed value
$12,618,000
Assessed 2023
Previous assessed
$1,216,800
+937.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$3,042,000
Assessed improvement
$9,576,000
Land market value
$3,042,000
Improvement market value
$9,576,000
Total market value
$12,618,000
Applied tax rate
58.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Total area
112,471 SF
Lot
3.31 ac (144,053 SF)
Zoning code
RSD1
APN
88-1-4360-10
UPID
US73-2610527
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
RSD1 · Philadelphia, PAZoning RSD1 · permitted uses
RSD1 · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
as of the effective date of this Zoning Code. Table 14-401-1: Residential Districts 288 {For printable PDF version, click HERE } Map Symbol District Name Previously Known As Map Symbol District Name Previously Known As RSD-1 Residential Single-Family Detached-1 R1 RSD-2 Residential Single-Family Detached-2 R1A RSD-3 Residential Single-Family Detached-3 R2 RSA-1 Residential Single-Family Attached-1 R3 RSA-2 Residential Single-Family Attached
Zone name
Residential Single Family Detached
General category
RESIDENTIAL
Zone area
2,820.36 ac
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
APARTMENT HOUSE (5+ UNITS)
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Lot
3.31 ac
Current owner
From public records · entity-resolved
650 Edison Ave LLC
Entity
Mailing address
67 FLUSHING AVE STE #213, BROOKLYN, NY 11205-1005
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2022
—
Somerton Realty LLC
—
Deed
related
$4,447,500 · Peapack Gladstone Bank
Nov 20, 2019
—
650 Edison Ave LLC
—
Loan Modification
related
$68,850,000 · Capital Fndg
Jul 25, 2019
$4,050,000
650 Edison Ave LLC
650 Edison Avenue LLC
Special Warranty Deed
$51,850,000 · Capital Funding
Jun 25, 2018
—
650 Edison Avenue LLC
—
Deed
related
$8,500,000 · Wells Fargo Bank NA
Dec 8, 2016
—
Lg-ohi Edison LP
—
Deed
related
$555,000,000 · Morgan Stanley Bk
Nov 7, 2016
$7,568,484
Lgo Ohi Edison LP
Geriatric And Medical Services INC
Deed
$535,000,000 · Morgan Stanley Bank NA
Aug 14, 2007
—
Geriatric & Medical Svcs INC
—
Deed Of Trust
related
$1,500,000,000 · General Electric Capital Corp
—
—
Lg-ohi Edison LP
—
Loan Modification
related
$555,000,000 · Morgan Stanley Bk
—
—
Geriatric & Medical Svcs INC
—
Deed Of Trust
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 650 Edison Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
