Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    120 Erie Ave Philadelphia, PA 19140-2725

    • Warehouses
    • 41,817 SF
    • 3.87 lot acres
    OFF-MARKET
    Last Sale
    Aug 21, 2023
    $5,350,000
    Value Estimations
    $4,500,000
    Show details
    Cap Rate Potential
    9.9%
    Warehouses
    Location Intelligence
    Property ID
    US73-2080615
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Allen Brothers Wholesale / Big Box & Wholesale Store

    Property Details for 120 Erie Ave

    Year built
    1890
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.87 lot acres
    Property size
    41,817 SF
    Zone code
    I3
    Property type
    Warehouses
    APN
    88-4-0400-00
    APU
    884040000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,335,000
      ML approach
      $4,190,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,325,000
      Market price range: $1.24M - $4.51M
      AI Estimate
      $3,458,000
      Market price range: $827k - $3.46M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,170,000
      AUTO REPAIR, GARAGE
      $3,560,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1283
    Latitude
    40.0062
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $25,287
    $541,950
    $1,264,550
    $1,806,500
    -
    $541,950
    $1,264,550
    $1,806,500

    Comparable in this City

    • Value Estimation by Request
      3,372 SF

      3827 Germantown Ave

      WAREHOUSE, STORAGE • 3,372 SF
      3827 Germantown Ave, Philadelphia, PA 19140-3621
      View Details
    • Value Estimation by Request
      3,632 SF

      3613 8th St, Unit 15

      WAREHOUSE, STORAGE • 3,632 SF
      3613 8th St, Philadelphia, PA 19140-4426
      View Details
    • Value Estimation by Request
      189 SF

      3918 Pulaski Ave

      WAREHOUSE, STORAGE • 189 SF
      3918 Pulaski Ave, Philadelphia, PA 19140-3402
      View Details
    • Value Estimation by Request
      2,700 SF

      3408 Palethorp St

      WAREHOUSE, STORAGE • 2,700 SF
      3408 Palethorp St, Philadelphia, PA 19140-4626
      View Details
    • Value Estimation by Request
      4,620 SF

      3950 Dell St

      WAREHOUSE, STORAGE • 4,620 SF
      3950 Dell St, Philadelphia, PA 19140
      View Details
    • Value Estimation by Request
      7,176 SF

      2029 Madison St, Unit 31

      WAREHOUSE, STORAGE • 7,176 SF
      2029 Madison St, Philadelphia, PA 19140-4853
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,844 SF

      Versatile Commercial Flex Warehouse Space

      2,844 SF warehouse with 18-foot drive-in door.
      251 W Cayuga St, Philadelphia, PA 19140
      View Details
    • $790,000
      9,500 SF

      Philadelphia Industrial Property

      9,500 SF Flex Space, Owner-User Ideal
      3435 5Th St, Philadelphia, PA 19140
      View Details
    • $1,950,000
      16,000 SF

      Philadelphia Warehouse Investment Opportunity

      16,000 SF Warehouse, 8.03% Cap Rate
      1901 Courtland St, Philadelphia, PA 19140
      View Details
    • Contact for pricing
      221,664 SF

      Philadelphia Warehouse Space Available

      221,664 square foot warehouse space in Philadelphia.
      3900 N 10Th St, Philadelphia, PA 19140
      View Details
    • $499,000
      6,788 SF

      Philadelphia Warehouse: Prime Location

      6,788 SF Warehouse, $499,000
      4311 3Rd St, Philadelphia, PA 19140
      View Details
    • $1,900,000
      39,060 SF

      Two-Story Warehouse in Feltonville

      39,060 SF two-story warehouse encompassing a complete city block.
      4500-4520 N 3Rd St, Philadelphia, PA 19140
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,742 SF

      Philadelphia Warehouse For Lease

      12,742 SF Warehouse, Prime Location
      3325 9Th St, Philadelphia, PA 19140
      View Details
    • Contact for pricing
      111,120 SF

      1007-1011 Butler St

      Distribution properties • 111,120 SF
      1007-1011 Butler St, Philadelphia, PA 19140
      View Details
    • Contact for pricing
      20,000 SF

      Prime Philadelphia Retail Space

      Spacious retail space available in vibrant Philadelphia.
      4229 Broad St, Philadelphia, PA 19140
      View Details
    • $1,600 /Mo
      1,110 SF

      Renovated Home with Large Yard

      Renovated 2-bedroom home with yard, close to Temple University.
      2118 Ruffner St, Philadelphia, PA 19140
      View Details
    • Contact for pricing
      10,347 SF

      Retail Space on Roosevelt Blvd

      Retail property with drive-in door and drive-thru on Roosevelt.
      8130 Roosevelt Blvd, Philadelphia, PA 19140
      View Details
    • $1,300 /Mo

      Renovated Apartment with Modern Amenities

      Spacious, renovated 1-bedroom apartment with modern features for rent.
      2028 W Westmoreland St St, Philadelphia, PA 19140
      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.
    120 Erie Ave
    Philadelphia, PA 19140-2725
    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.