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Property profile & analytics
FOR SALE
Apartment buildings
718 Chestnut St Philadelphia, PA 19106
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US73-5595092
For Sale
1 / 4
$2,750,000
718 Chestnut St, Philadelphia, PA 19106
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,555 SF
Lot
0.08 ac (3,302 SF)
Zoning code
CMX5
APN
88-1-3013-00
UPID
US73-5595092
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
-
DOCA Philly Home Decor Store Department Store
-
Whole Stones Marble & Granite Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.31M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.96M
Owner & transaction history
Wen Zhang Property Inv LLC · 13 yrs held
Wen Zhang Property Inv LLC
since 2012
7 recorded transactions
Zoning & alternative use
CMX5 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.0M
+11.3%
Office building
$2.7M
+1.2%
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%
$2,505,000
6.5%
$2,310,000
7%
$2,145,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,660,000
Current use
RESTAURANT
$2,960,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$2,690,000
Change: +1% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,375,000
Change: -11% · Conversion: Moderate
MEDICAL BUILDING
$2,345,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$1.96M
Range $1.76M – $2.15M · ±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
$205 / 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
$35,288
Tax year 2023
Assessed value
$2,520,900
Assessed 2023
Previous assessed
$2,520,900
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$252,090
Assessed improvement
$2,268,810
Land market value
$252,090
Improvement market value
$2,268,810
Total market value
$2,520,900
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Total area
9,555 SF
Lot
0.08 ac (3,302 SF)
Zoning code
CMX5
APN
88-1-3013-00
UPID
US73-5595092
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CMX5 · Philadelphia, PA
Zoning CMX5 · permitted uses
CMX5 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.7M
RESTAURANT
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Lot
0.08 ac
Current owner
From public records · entity-resolved
Wen Zhang Property Inv LLC
Entity
Mailing address
114 CASEY LN, BENSALEM, PA 19020-3968
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2022
—
Wen Zhang Property Investment LLC
—
Deed
related
$1,500,000 · Univest Bank & Trust Co
Feb 27, 2019
—
Wen Zhang Property Investment LLC
—
Deed
related
$345,000 · Td Bank NA
Jun 29, 2017
—
Wen Zhang Property Investments LLC
—
Deed
related
$1,750,000 · Td Bank NA
Dec 19, 2012
$1,600,000
Wen Zhang Property Inv LLC
Tommy At 718 LLC
Grant Deed
$1,000,000 · Morebank
Jul 13, 2007
$1,140,000
Tommy At 718 LLC
718 Chestnut Associates LP
Deed
$923,000 · Bank Of America NA
Jul 7, 2005
$400,000
718 Chestnut Associates
Lanax Corp
Grant Deed
$360,000 · Commerce Bk/pa
—
—
Tommy 718 LLC
—
Loan Modification
related
$838,000 · Bank Of America California NA
—
—
Tommy 718 LLC
—
Deed Of Trust
related
$1,441,000 · Delval Busn Fin
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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