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

    1502 Harrison St Philadelphia, PA 19124-5933

    • Apartment buildings
    • 5,368 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Jan 04, 2022
    $510,000
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5089310
    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

    • Universal HVAC Contractors Philadelphia / HVAC Service / General Contractor

    Property Details for 1502 Harrison St

    Year built
    1915
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.09 lot acres
    Property size
    5,368 SF
    Zone code
    RM1
    Property type
    Apartment buildings
    APN
    88-1-1053-00
    APU
    881105300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $630,000
      ML approach
      $640,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $650,000
      Market price range: $200k - $880k
      AI Estimate
      $486,000
      Market price range: $215k - $699k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $615,000
      Current use
      RETAIL STORES
      $665,000
      Change: +8% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $610,000
      Change: -1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $510,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.0833
    Latitude
    40.0198
    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
    $5,613
    $120,300
    $280,700
    $401,000
    -
    $120,300
    $280,700
    $401,000

    Comparable in this City

    • Value Estimation
      $3,335,000
      33,000 SF

      5217 Cottage St, Unit 41

      APARTMENT HOUSE (5+ UNITS) • 33,000 SF
      5217 Cottage St, Philadelphia, PA 19124-1542
      View Details
    • Value Estimation
      $2,240,000
      14,256 SF

      4200 M St, Unit 8

      APARTMENT HOUSE (5+ UNITS) • 14,256 SF
      4200 M St, Philadelphia, PA 19124-4988
      View Details
    • Value Estimation
      $1,080,000
      72,480 SF

      3901 Roosevelt Blvd

      APARTMENT HOUSE (5+ UNITS) • 72,480 SF
      3901 Roosevelt Blvd, Philadelphia, PA 19124-3544
      View Details
    • Value Estimation
      $1,635,000
      15,910 SF

      851 Godfrey Ave

      APARTMENT HOUSE (5+ UNITS) • 15,910 SF
      851 Godfrey Ave, Philadelphia, PA 19124-1704
      View Details
    • Value Estimation
      $700,000
      5,744 SF

      4251 Frankford Ave

      APARTMENT HOUSE (5+ UNITS) • 5,744 SF
      4251 Frankford Ave, Philadelphia, PA 19124-4528
      View Details
    • Value Estimation
      $1,110,000
      10,725 SF

      1655 Harrison St

      APARTMENT HOUSE (5+ UNITS) • 10,725 SF
      1655 Harrison St, Philadelphia, PA 19124-2764
      View Details

    Similar Nearby for Sale

    • $325,000
      0.02 Acres

      Philadelphia Multifamily Portfolio with Vacant Lot

      Three parcels including five occupied units and a vacant lot.
      2047 Margaret St, Philadelphia, PA 19124
      View Details
    • $279,900

      Underway Rehab Project with Options

      3,750 SF building with potential for apartments or assisted living.
      4714 Griscom St, Philadelphia, PA 19124
      View Details
    • $995,000
      6,400 SF

      Bustleton Ave Mixed-Use Investment

      Philadelphia Multifamily & Daycare
      5316 Bustleton Ave, Philadelphia, PA 19124
      View Details
    • $350,000
      3,500 SF

      Philadelphia Multifamily Value-Add Opportunity

      3,500 sq ft, high-potential rental property
      4714 Griscom St, Philadelphia, PA 19124
      View Details
    • New
      $190,000
      1,072 SF

      Philadelphia Duplex Investment Opportunity

      Duplex near transportation, ideal for investors or owner-occupiers.
      4664 Torresdale Ave, Philadelphia, PA 19124
      View Details
    • $244,900
      1,632 SF

      Philadelphia Duplex: Investment Opportunity

      Well-maintained Philadelphia duplex with two bedrooms in each unit.
      4942 Mulberry St, Philadelphia, PA 19124
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Spacious Apartment Near Transportation Center

      One bedroom apartment near Jefferson Frankford Hospital and transportation.
      4637 Leiper St, Philadelphia, PA 19124
      View Details
    • Contact for pricing

      Frankford Apartment with Shared Backyard

      Two-bedroom apartment with modern amenities and shared backyard access.
      4633 Penn St St, Philadelphia, PA 19124
      View Details
    • Contact for pricing

      Philadelphia Apartment for Rent

      Apartment for rent in Philadelphia, PA.
      4637 Leiper St St, Philadelphia, PA 19124
      View Details
    • Contact for pricing
      17,518 SF

      Hegerman Street Warehouse Space

      Philadelphia Industrial Space Available
      5601 Hegerman St, Philadelphia, PA 19124
      View Details
    • Contact for pricing
      1,550 SF

      Retail Space on Roosevelt Boulevard

      Retail space with high traffic and proven tenant stability.
      4600 E Roosevelt Blvd, Philadelphia, PA 19124
      View Details
    • Contact for pricing
      5,341 SF

      Industrial Properties Available For Lease

      Industrial properties for lease featuring offices, storage, and loading docks.
      5601-5613 Hegerman St, Philadelphia, PA 19124
      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.
    1502 Harrison St
    Philadelphia, PA 19124-5933
    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.