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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Sports & entertainment properties
969 2nd St Philadelphia, PA 19123-2312
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-2451850
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,645 SF
Lot
0.26 ac (11,474 SF)
Zoning code
CMX3
APN
88-2-2342-00
UPID
US73-2451850
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
-
Tendenza by Cescaphe Wedding Service
-
AirGarage Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$750k
Blend (final)
Blend
$755k
Owner & transaction history
North 2nd Street Holdings LLC · 9 yrs held
North 2nd Street Holdings LLC
since 2017
7 recorded transactions
Zoning & alternative use
CMX3 · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
RECREATIONAL/ENTERTAINMENT (GENERAL)
$855,000
Current use
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$78 / 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
$18,214
Tax year 2023
Assessed value
$1,301,200
Assessed 2023
Previous assessed
$1,301,200
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$260,244
Assessed improvement
$1,040,956
Land market value
$260,244
Improvement market value
$1,040,956
Total market value
$1,301,200
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
9,645 SF
Lot
0.26 ac (11,474 SF)
Zoning code
CMX3
APN
88-2-2342-00
UPID
US73-2451850
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CMX3 · Philadelphia, PA
Zoning CMX3 · permitted uses
CMX3 · 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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$855,000
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
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
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
North 2nd Street Holdings LLC
Entity
Mailing address
1412 MT VERNON ST, PHILADELPHIA, PA 19130-3472
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2024
—
North 2nd Street Holdings LLC
—
Deed
related
$25,000,000 · Manufacturers & Traders Trust Co
Aug 12, 2019
—
North 2nd Street Holdings LLC
—
Loan Modification
related
$50,000,000 · Manufacturers & Traders Tr
Dec 18, 2018
—
North 2nd Street Holdings LLC
—
Deed
related
$499,900 · Manufacturers & Traders Tr
Jul 6, 2017
—
North 2nd Street Holdings LLC
—
Grant Deed
related
$31,400,000 · Manufacturers & Traders Tr
Jun 30, 2017
$3,000,000
North 2nd Street Holdings LLC
969 North Second Partners LP
Grant Deed
—
Aug 26, 2015
—
969 North Second Partners LP
Hancock Square LLC
Grant Deed
—
Mar 23, 2011
$3,000,000
Post Equity Partners LLC
969 North Second Partners LP
Grant Deed
related
—
Oct 17, 2008
$30,000
Hancock Square LLC
Waks,chaim & Sima
Quit Claim Deed
related
—
Dec 19, 2007
—
969 North Second Partners
969 North Second Partners
Quit Claim Deed
related
—
Oct 19, 2007
—
969 North Second Associates
1010 North Hancock Partners
Grant Deed
—
Apr 5, 2007
—
Manayunk Associates
—
Deed Of Trust
related
$5,640,000 · Artesia Mortgage Capital Corp
Sep 26, 2005
$489,378
1010 North Hancock Partners LP
Liberties Development LP
Deed
$16,000,000 · Citizens Bank Of Pennsylvania
—
—
North 2nd Street Holdings LLC
—
Loan Modification
related
$499,900 · Manufacturers & Traders Tr
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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