Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3501 Richmond St Philadelphia, PA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2.96 acres of industrial land in Philadelphia.

    Type:LAND
    Lot size:
    2.96 Acres
    Added:
    Jan 26, 2024
    Days on Market:
    824
    Last Refresh:
    Apr 5 at 11:22 pm

    Property Features for 3501 Richmond St

    General Information

    Standard status
    Active
    Lot size
    2.96 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Chris Pennington
    Chris Pennington

    Listing agent Chris Pennington

    Listing office Binswanger - Corporate

    Listing date Jan 26, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Binswanger - Corporate

    Overview

    Industrial Land For Sale

    This 2.96-acre industrial land parcel is zoned I-2 for medium industrial use within the city of Philadelphia. The estimated 2023 taxes are $35,557. The property benefits from transportation access via SEPTA bus route 60 and the Market-Frankford Line. It features frontage on American Street (552 feet), East Tioga Street (185 feet), and Kingston Street (185 feet).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Reiter Roofing Roofing Company Gryphin Company,Inc. Powder Coating Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.0933
    Latitude
    39.9868

    Nearby Similar for Sale

    • $395,000
      3,000 SF

      Spacious South Philly Garage Studio

      Expansive, light-filled garage with potential for residential conversion.
      519-21 EMILY Street, PHILADELPHIA, PA 19148
      View Details
    • $4,795

      High-Visibility Retail Space in Philadelphia

      Retail space in growing Callowhill neighborhood with strong foot traffic.
      1009 VINE STREET, PHILADELPHIA, PA 19107
      View Details
    • $3,552

      High-Visibility Retail Space in Philadelphia

      Retail space in growing Callowhill neighborhood with strong foot traffic.
      312 N 10TH STREET, PHILADELPHIA, PA 19107
      View Details
    • $645,000
      4,278 SF

      Germantown Avenue Mixed-Use Opportunity

      Versatile mixed-use property in historic Germantown with parking.
      5519 GERMANTOWN Avenue, PHILADELPHIA, PA 19144
      View Details
    • $549,000

      Turnkey Medical Office Space Available

      Medical office space near Jefferson Methodist Hospital in South Philadelphia.
      1313 WOLF Street, PHILADELPHIA, PA 19148
      View Details
    • $2,990,000

      Restaurant Opportunity in Philadelphia, PA

      Restaurant with 170 parking spaces on 1.77 acres.
      80 FRANKLIN MILLS Boulevard, PHILADELPHIA, PA 19154
      View Details
    • $900,000
      1,629 SF

      Frankford Avenue Mixed-Use Investment Opportunity

      Three adjacent properties for sale in East Kensington, Philadelphia.
      2603 FRANKFORD AVENUE, PHILADELPHIA, PA 19125
      View Details
    • $399,000
      3,441 SF

      Philadelphia Commercial Building on Allegheny

      Three-story corner building on Allegheny Avenue, suitable for commercial or multi-family use.
      2711-13 E ALLEGHENY AVENUE, PHILADELPHIA, PA 19134
      View Details
    • $900,000
      800 SF

      Frankford Avenue Commercial Package Sale

      Three adjacent properties on Frankford Avenue, ideal for redevelopment.
      2607 FRANKFORD AVENUE, PHILADELPHIA, PA 19125
      View Details
    • $385,000
      2,590 SF

      Updated Quadplex in North Philly

      Renovated quadplex with modern finishes and off-street parking.
      1540-42 ADAMS Avenue, PHILADELPHIA, PA 19124
      View Details
    • $900,000
      3,629 SF

      Frankford Avenue Commercial Redevelopment Opportunity

      Three adjacent properties for sale in East Kensington, Philadelphia.
      2605 FRANKFORD AVENUE, PHILADELPHIA, PA 19125
      View Details
    • $645,000

      Germantown Avenue Commercial Office Opportunity

      Versatile commercial property in historic Germantown with mixed-use zoning.
      5519 GERMANTOWN Avenue, PHILADELPHIA, PA 19144
      View Details

    FAQs

    What type of property is this?
    Land - 2.96 acres of industrial land in Philadelphia.
    Where is this land located?
    The property is located at 3501 Richmond St Philadelphia, PA.
    What are key features of this property?
    This property features: 2.96 acres of land; Zoned I‑2 (medium industrial) in Philadelphia; Significant frontage: American St (552'), E. Tioga St (185'), and Kingston St (185')
    (215) 448-6053 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chris Pennington
    Chris Pennington
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!