Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    600 Chestnut St Philadelphia, PA 19106
    Back to Search
    Property profile & analytics

    600 Chestnut St Philadelphia, PA 19106

    View on Map
    • Retail properties & Spaces
    • 19,188 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Testan Law / Law Firm
    • Insperia, Inc - Technology Integration Experts / (Bike/Boat/Book/etc) Store / Corporate Office
    • Once Upon A Nation / Resort
    • International Raw Materials LTD / Logistics Company
    • Consulate General of Italy / Foreign Consulate

    Property Details for 600 Chestnut St

    Year built
    1921
    Property size
    19,188 SF
    Property type
    Retail properties & Spaces

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1522
    Latitude
    39.9494

    Comparable in this City

    • Value Estimation by Request
      2,781 SF

      309-313 Arch St

      Office Spaces • 2,781 SF
      309-313 Arch St, Philadelphia, PA 19106
      View Details
    • Value Estimation by Request
      14,710 SF

      3-7 Christopher Columbus Blvd

      Retail properties & Spaces • 14,710 SF
      3-7 Christopher Columbus Blvd, Philadelphia, PA 19106
      View Details
    • Value Estimation by Request
      8,732 SF

      123-129 Chestnut St

      Retail properties & Spaces • 8,732 SF
      123-129 Chestnut St, Philadelphia, PA 19106
      View Details
    • Value Estimation by Request
      1,600 SF

      730-32 Sansom St

      Retail properties & Spaces • 1,600 SF
      730-32 Sansom St, Philadelphia, PA 19106
      View Details
    • Value Estimation by Request
      4,500 SF

      4-6 Front St

      Restaurants • 4,500 SF
      4-6 Front St, Philadelphia, PA 19106
      View Details
    • Value Estimation by Request
      2,438 SF

      241-43 Chestnut St

      Retail properties & Spaces • 2,438 SF
      241-43 Chestnut St, Philadelphia, PA 19106
      View Details

    Similar Nearby for Sale

    • $2,800,000
      18,213 SF

      Iconic Philadelphia Bar/Restaurant For Sale

      Prestigious property in Society Hill with versatile space.
      125 Walnut St, Philadelphia, PA 19106
      View Details
    • $1,300,000
      1,422 SF

      Old City Restaurant Opportunity

      Restaurant property in the heart of Old City, Philadelphia.
      60 S 2Nd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      1,500 SF

      Historic Philly Storefront

      1,500 SF Retail/Medical Office
      136 2Nd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing

      Old City Commercial Space Available

      Office or retail space in a vibrant, high-traffic location.
      20 N 3Rd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing

      Unique Commercial Space in Old City

      Modern commercial space in Philadelphia's desirable Old City location.
      136-38 N 2Nd St, Philadelphia, PA 19106
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      10,481 SF

      Old City Retail/Office Space

      Prime location with exposed brick near historic Christ Church.
      220-222 Church St, Philadelphia, PA 19106
      View Details
    • $23 SF/Yr
      19,589 SF

      Vine Street Retail Opportunities

      Multiple retail spaces available on rapidly developing Vine Street.
      219-29 Vine Street Expy, Philadelphia, PA 19106
      View Details
    • Contact for pricing

      Retail Spaces in Old City

      Ground floor retail spaces for lease in historic Old City.
      219 Vine St, Philadelphia, PA 19106
      View Details
    • Contact for pricing

      Bi-Level Unit in Old City

      Spacious, renovated bi-level unit in a high-traffic Philadelphia location.
      44 S 3Rd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      1,080 SF

      Retail/Office Space Available

      Retail or office space available in Philadelphia.
      33 S 3Rd St, Philadelphia, PA 19106
      View Details
    • New
      $2,500 /Mo

      Mixed-Use Space in Philadelphia

      Loft-style space suitable for work, live, or retail.
      216 Church St, Philadelphia, PA 19106
      View Details
    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.
    600 Chestnut St
    Philadelphia, PA 19106
    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

    Thank You for Inquiry
    600 Chestnut St, Philadelphia, PA, 19106
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!