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

    1516 7th St, Unit 18 Philadelphia, PA 19147-6411

    • Flex space
    • 2,520 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jun 18, 2022
    $550,000
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    3.7%
    Flex space
    Location Intelligence
    Property ID
    US73-2822647
    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

    • Marrone Custom Cabinets / Cabinet Store

    Property Details for 1516 7th St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Property size
    2,520 SF
    Zone code
    RSA5
    Property type
    Flex space
    APN
    88-4-4005-01
    APU
    884400501

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $500,000
      ML approach
      $525,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $321,000
      Market price range: $87.6k - $527k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $640,000
      COMMERCIAL (GENERAL)
      $620,000
      MEDICAL BUILDING
      $620,000
      NEIGHBORHOOD: SHOPPING CENTER
      $470,000
      RETAIL STORES
      $430,000
      WAREHOUSE, STORAGE
      $400,000
      AUTO REPAIR, GARAGE
      $395,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1569
    Latitude
    39.9298
    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
    $3,351
    $47,880
    $191,520
    $239,400
    -
    $47,880
    $191,520
    $239,400

    Comparable in this City

    • Value Estimation by Request
      2,176 SF

      1031 3rd St, Unit 33

      LIGHT INDUSTRIAL • 2,176 SF
      1031 3rd St, Philadelphia, PA 19147-4201
      View Details
    • Value Estimation by Request
      495 SF

      1516 Franklin St

      LIGHT INDUSTRIAL • 495 SF
      1516 Franklin St, Philadelphia, PA 19147
      View Details
    • Value Estimation by Request
      3,456 SF

      1222 8th St, Unit 24

      LIGHT INDUSTRIAL • 3,456 SF
      1222 8th St, Philadelphia, PA 19147-5130
      View Details
    • Value Estimation
      $1,325,000
      3,802 SF

      520 3rd St, Unit 22

      LIGHT INDUSTRIAL • 3,802 SF
      520 3rd St, Philadelphia, PA 19147-2309
      View Details
    • Value Estimation
      $575,000
      5,228 SF

      1416 Darien St, Unit 18

      LIGHT INDUSTRIAL • 5,228 SF
      1416 Darien St, Philadelphia, PA 19147-5705
      View Details
    • Value Estimation by Request
      3,020 SF

      928 5th St

      LIGHT INDUSTRIAL • 3,020 SF
      928 5th St, Philadelphia, PA 19147-4040
      View Details

    Similar Nearby for Sale

    • $3,360,000
      14,180 SF

      Philadelphia Flex Property For Sale

      Single-tenant flex property in Philadelphia with a strong tenant.
      1400-18 South Front St, Philadelphia, PA 19147
      View Details
    • $499,900

      Verizon Wireless Ground Lease

      Philadelphia NNN investment, high ROI.
      1500 Front St, Philadelphia, PA 19147
      View Details
    • $879,000
      2,868 SF

      Prime Retail with Two-Story Apartment

      Retail space with a two-story apartment in Queen Village.
      713 S 4Th St, Philadelphia, PA 19147
      View Details
    • $685,000
      2,137 SF

      Passyunk Square Townhouse with Skyline Views

      Classic townhouse in Passyunk Square with finished basement and rooftop deck.
      740 Wharton St, Philadelphia, PA 19147
      View Details
    • $1,450,000
      3,340 SF

      Refined Philadelphia Residence with Parking

      Stunning 3-bedroom home with parking in vibrant neighborhood.
      609 S 9Th St, Philadelphia, PA 19147
      View Details
    • $950,000
      3,200 SF

      Queen Village Grandmom Home

      Spacious 7-bedroom home with original features in sought-after Queen Village.
      223 Fitzwater St, Philadelphia, PA 19147
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,713 SF

      Multipurpose Building with Parking

      6,713 SF single-tenant building suitable for various uses.
      400 N 3Rd St, Philadelphia, PA 19147
      View Details
    • $4,750 /Mo
      3,326 SF

      Industrial Flex Space For Rent

      3,326 SF flex space near I-95 available for lease.
      621 Reed St, Philadelphia, PA 19147
      View Details
    • Contact for pricing
      20,425 SF

      Fishtown Warehouse with Drive-In Doors

      Large commercial building in booming Fishtown with easy access.
      1300 N Howard St, Philadelphia, PA 19147
      View Details
    • Contact for pricing
      8,963 SF

      Northern Liberties Creative Space Available

      Two-story building in Philadelphia's nightlife corridor, suitable for various uses.
      500 N Columbus Blvd, Philadelphia, PA 19147
      View Details
    • Contact for pricing
      3,040 SF

      South Street Retail Space Available

      Prime Philadelphia retail space, 3,040 sq ft.
      331 South St, Philadelphia, PA 19147
      View Details
    • $24,370
      42,689 SF

      Retail Space in Bustling Neighborhood

      Former CVS in Philadelphia's vibrant neighborhood, near national retailers.
      1001-51 South St, Philadelphia, PA 19147
      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.
    1516 7th St, Unit 18
    Philadelphia, PA 19147-6411
    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.