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Property profile & analytics
OFF-MARKET
Estimated value
$3,265,000
Industrial properties
823 3rd St 29 Philadelphia, PA 19123-2203
Entity Owned
3-yr Hold
Property ID
US73-1473461
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1915
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,950 SF
Lot
0.2 ac (8,500 SF)
Zoning code
IRMX
APN
88-4-4539-23
UPID
US73-1473461
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
$3.26M
CAP Approach
CAP
$2.59M
Comparable Approach
Comparable
$1.97M
Blend (final)
Blend
$3.27M
Owner & transaction history
Rid Liberties Third St LLC · 3 yrs held
Rid Liberties Third St LLC
since 2022
Last sale
$3.6M
3 recorded transactions
Zoning & alternative use
IRMX · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.0M
+103.9%
Neighborhood: shopping center
$4.3M
+73.2%
Retail stores
$3.9M
+60.1%
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
$3,280,000
ML approach
$3,255,000
CAP Approach
CAP Return
Estimation
6%
$2,810,000
6.5%
$2,590,000
7%
$2,405,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,460,000
Current use
COMMERCIAL (GENERAL)
$5,015,000
Change: +104% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,260,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$3,935,000
Change: +60% · Conversion: Moderate
Blend value · Realmo final
$3.27M
Range $2.94M – $3.59M · ±10% · vs last sale $3.60M (Aug 17 2022)
Last sale anchor
$3.60M
Aug 17 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
$142 / 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
$25,700
Tax year 2023
Assessed value
$1,836,000
Assessed 2023
Previous assessed
$1,836,000
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$367,200
Assessed improvement
$1,468,800
Land market value
$367,200
Improvement market value
$1,468,800
Total market value
$1,836,000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1915
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
4
Total area
22,950 SF
Lot
0.2 ac (8,500 SF)
Zoning code
IRMX
APN
88-4-4539-23
UPID
US73-1473461
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
IRMX · Philadelphia, PA
Zoning IRMX · permitted uses
IRMX · 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
INDUSTRIAL (GENERAL) Current
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$5.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.3M
RETAIL STORES
Est. value
$3.9M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1915
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
4
Lot
0.2 ac
Current owner
From public records · entity-resolved
Rid Liberties Third St LLC
Entity
Mailing address
283 ST RDRD, SOUTHAMPTON, PA 18966
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2022
$3,600,000
Rid Liberties Third St LLC
Ray King
Deed
—
Apr 16, 2019
—
Ray King
Ray King
Intrafamily Transfer
related
$1,200,000 · Firstrust Bank
—
—
Ray King
—
Deed Of Trust
related
$300,000 · Third Federal 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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