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Property profile & analytics
OFF-MARKET
Estimated value
$8,735,000
Strip malls
8445 Frankford Ave Philadelphia, PA 19136-2400
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2907770
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
42,379 SF
Lot
4.26 ac (185,783 SF)
Zoning code
CA2
APN
88-2-0961-00
UPID
US73-2907770
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
-
Liberty Bell Diner Restaurant
-
Henrietta I. Orumwense, BPharm Pharmacy
-
Dollar General Discount Store
-
Western Union Bank Credit Union
-
higi Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.68M
CAP Approach
CAP
$9.45M
Comparable Approach
Comparable
$7.86M
Blend (final)
Blend
$8.74M
Owner & transaction history
North City Dev Co · 13 yrs held
North City Dev Co
since 2013
Last sale
$9.6M
2 recorded transactions
Zoning & alternative use
CA2 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$13.1M
+66.9%
Apartment house (5+ units)
$11.8M
+49.9%
Office building
$10.8M
+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
$8,175,000
ML approach
$7,675,000
CAP Approach
CAP Return
Estimation
6%
$10,235,000
6.5%
$9,445,000
7%
$8,770,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$7,865,000
Current use
RESTAURANT
$13,125,000
Change: +67% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$11,785,000
Change: +50% · Conversion: Difficult
OFFICE BUILDING
$10,780,000
Change: +37% · Conversion: Moderate
MEDICAL BUILDING
$10,405,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$8,250,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,685,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$8.74M
Range $7.86M – $9.61M · ±10% · vs last sale $9.62M (Jan 10 2025)
Last sale anchor
$9.62M
Jan 10 2025
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
$206 / 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
$82,546
Tax year 2023
Assessed value
$5,897,000
Assessed 2023
Previous assessed
$5,897,000
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$4,127,926
Assessed improvement
$1,769,074
Land market value
$4,127,926
Improvement market value
$1,769,074
Total market value
$5,897,000
Applied tax rate
65.0000
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
42,379 SF
Lot
4.26 ac (185,783 SF)
Zoning code
CA2
APN
88-2-0961-00
UPID
US73-2907770
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CA2 · Philadelphia, PA
Zoning CA2 · permitted uses
CA2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.9M
RESTAURANT
Est. value
$13.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.8M
OFFICE BUILDING
Est. value
$10.8M
MEDICAL BUILDING
Est. value
$10.4M
RETAIL STORES
Est. value
$8.3M
AUTO REPAIR, GARAGE
Est. value
$6.7M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1
Lot
4.26 ac
Current owner
From public records · entity-resolved
North City Dev Co
Entity
Mailing address
500 COTTMAN AVE, CHELTENHAM, PA 19012-2009
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
Apr 29, 2013
—
North City Dev Co
North City Dev Co
Quit Claim Deed
related
$4,300,000 · First Niagara Bank
—
—
North City Dev Co
—
Deed Of Trust
related
$2,500 · Keybank USA
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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