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

    1357 Rdg Ave, Unit 61 Philadelphia, PA 19123-2547

    • Apartment buildings
    • 49,988 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Jul 15, 2021
    Value Estimations
    $8,935,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2870852
    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

    • Astro Gym / Gym
    • TierView Property Management / Property Management Company
    • Family Friends Home Care / Home Health Care Service / Care Services
    • Venture Commons / Apartment Building

    Property Details for 1357 Rdg Ave

    Year built
    2018
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property size
    49,988 SF
    Zone code
    CMX3
    Property type
    Apartment buildings
    APN
    88-1-0681-97
    APU
    881068197

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $13,905,000
      Current use
      OFFICE BUILDING
      $12,720,000
      Change: -9% Conversion: Moderate
      MEDICAL BUILDING
      $12,275,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1594
    Latitude
    39.9658
    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
    $12,051
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $8,609,000

    Comparable in this City

    • Value Estimation by Request

      710 5th St

      APARTMENT HOUSE (5+ UNITS)
      710 5th St, Philadelphia, PA 19123-2842
      View Details
    • Value Estimation by Request
      380,040 SF

      900 9th St, Unit 58

      APARTMENT HOUSE (100+ UNITS) • 380,040 SF
      900 9th St, Philadelphia, PA 19123-1219
      View Details
    • Value Estimation
      $5,370,000
      30,060 SF

      1133 4th St, Unit 37

      APARTMENT HOUSE (5+ UNITS) • 30,060 SF
      1133 4th St, Philadelphia, PA 19123-1589
      View Details
    • Value Estimation
      $3,130,000
      15,800 SF

      1021 3rd St

      APARTMENT HOUSE (5+ UNITS) • 15,800 SF
      1021 3rd St, Philadelphia, PA 19123-1736
      View Details
    • Value Estimation
      $4,315,000
      27,350 SF

      1222 Rdg Ave, Unit 30

      APARTMENT HOUSE (5+ UNITS) • 27,350 SF
      1222 Rdg Ave, Philadelphia, PA 19123-3268
      View Details
    • Value Estimation
      $785,000
      7,776 SF

      1347 Rdg Ave, Unit 53

      APARTMENT HOUSE (5+ UNITS) • 7,776 SF
      1347 Rdg Ave, Philadelphia, PA 19123-2420
      View Details

    Similar Nearby for Sale

    • $825,000
      2,465 SF

      Iconic Cigar Factory Penthouse Loft

      New York-style loft with skyline views in Northern Liberties.
      1147 N 4Th St, Philadelphia, PA 19123
      View Details
    • $779,000
      3,252 SF

      Mixed-Use Property on Spring Garden

      Three-story mixed-use building with retail and residential units.
      937 Spring Garden St, Philadelphia, PA 19123
      View Details
    • $759,000
      2,700 SF

      Modern Home in Northern Liberties

      Four-story, four-bedroom home with roof deck and city views.
      1111 E Dunton St, Philadelphia, PA 19123
      View Details
    • $585,000
      1,802 SF

      Philadelphia Duplex with Tenant Occupancy

      Two bi-level, two-bedroom units in Northern Liberties, tenant occupied.
      1136 N 4Th St, Philadelphia, PA 19123
      View Details
    • $779,000
      2,823 SF

      Mixed-Use Property Near Public Transit

      Three-story mixed-use property with retail and residential units in Philadelphia.
      935 Spring Garden St, Philadelphia, PA 19123
      View Details
    • $799,999
      2,124 SF

      Modern Duplex in Philadelphia

      Contemporary duplex built in 2014, ideal for investors or owner-occupants.
      1106 Wallace St, Philadelphia, PA 19123
      View Details

    Similar Nearby for Lease

    • $1,795 /Mo

      Northern Liberties Apartment with Laundry

      Two-bedroom apartment in Northern Liberties with in-unit laundry.
      709 N 3Rd St, Philadelphia, PA 19123
      View Details
    • $3,500 /Mo

      Furnished Condo in Northern Liberties

      Modern, furnished 2-bedroom condo with parking in a walkable neighborhood.
      620 N 3Rd St, Philadelphia, PA 19123
      View Details
    • $1,295 /Mo

      Girard Avenue Apartment Available Now

      Two-bedroom apartment with in-unit laundry and stainless steel appliances.
      238 W Girard Ave Ave, Philadelphia, PA 19123
      View Details
    • $1,995 /Mo

      Spacious Condo with City Views

      Three-bedroom condo with den, in-unit laundry, and city views.
      301 Spg Gdn St St, Philadelphia, PA 19123
      View Details
    • $4,000 /Mo

      Modern Townhouse in Northern Liberties

      Furnished townhouse with city views, close to amenities and transportation.
      117 W Laurel St, Philadelphia, PA 19123
      View Details
    • $2,600 /Mo
      1,250 SF

      Poplar Home with Gated Parking

      Two-bedroom, 2.5-bath home in Poplar with finished basement and parking.
      656 N 8Th St, Philadelphia, PA 19123
      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.
    1357 Rdg Ave, Unit 61
    Philadelphia, PA 19123-2547
    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.