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

    1623 Willington St Philadelphia, PA 19121-3263

    • Apartment buildings
    • 16,056 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $2,740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0757673
    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

    • Willington Commons / Short Term Apartment Rental Agency / Apartment Complex
    • First Choice Plumbers / Plumbing Service / General Contractor
    • First Choice Electrician / Electrical Engineer
    • Neko.Oni / Clothing Store

    Property Details for 1623 Willington St

    Year built
    2013
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.13 lot acres
    Property size
    16,056 SF
    Zone code
    RM1
    Property type
    Apartment buildings
    APN
    88-1-1466-50
    APU
    881146650

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,286,000
      Market price range: $968k - $4.47M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,085,000
      MEDICAL BUILDING
      $3,940,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1618
    Latitude
    39.9786
    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
    $27,958
    $199,730
    $1,797,570
    $1,997,300
    -
    $199,730
    $1,797,570
    $1,997,300

    Comparable in this City

    • Value Estimation by Request

      2530 Ridge Ave

      Multifamily properties
      2530 Ridge Ave, Philadelphia, PA 19121
      View Details
    • Value Estimation by Request

      1501 31st Stp5

      APARTMENT HOUSE (5+ UNITS)
      1501 31st Stp5, Philadelphia, PA 19121-3897
      View Details
    • Value Estimation by Request

      1501 31st Stp17

      APARTMENT HOUSE (5+ UNITS)
      1501 31st Stp17, Philadelphia, PA 19121-3897
      View Details
    • Value Estimation by Request

      1501 31st Stp10

      APARTMENT HOUSE (5+ UNITS)
      1501 31st Stp10, Philadelphia, PA 19121-3897
      View Details
    • Value Estimation by Request

      1501 31st Stp19

      APARTMENT HOUSE (5+ UNITS)
      1501 31st Stp19, Philadelphia, PA 19121-3897
      View Details
    • Value Estimation by Request

      1501 31st Stp11

      APARTMENT HOUSE (5+ UNITS)
      1501 31st Stp11, Philadelphia, PA 19121-3897
      View Details

    Similar Nearby for Sale

    • $985,000
      3,051 SF

      Prime Temple University Student Housing

      Two-Unit Multifamily, Excellent Location
      1700 Norris St, Philadelphia, PA 19121
      View Details
    • $3,200,000

      North Philly Multifamily Portfolio

      18-Unit Portfolio, 97% Occupancy
      2530 Ridge Ave, Philadelphia, PA 19121
      View Details
    • New
      $1,999,000
      4,230 SF

      Mixed-Use Property Near Temple University

      Fully occupied mixed-use property near Temple University with development potential.
      1542 N 15Th St, Philadelphia, PA 19121
      View Details
    • $344,900
      3,604 SF

      Philadelphia Multifamily Investment Opportunity

      Shell ready development near Temple University with approved architectural plans.
      1545 W Jefferson St, Philadelphia, PA 19121
      View Details
    • $795,000
      2,484 SF

      Co-Living Apartment Building Investment

      Fully occupied co-living apartment building near Temple University with robust cashflow.
      1730 W Diamond St, Philadelphia, PA 19121
      View Details
    • $879,000
      3,252 SF

      Philadelphia Multifamily Property for Sale

      Multifamily property in Philadelphia, Pennsylvania, with 3,252 square feet.
      2125 N 15Th St, Philadelphia, PA 19121
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Modern Apartment with Private Patio

      Two-bedroom, two-bathroom apartment with modern finishes and private patio.
      1335 N Marston St St, Philadelphia, PA 19121
      View Details
    • Contact for pricing
      1,300 SF

      Renovated Brewerytown Residence with Deck

      Stunning, fully renovated three-bedroom Brewerytown residence with modern comfort.
      1512 N Newkirk St, Philadelphia, PA 19121
      View Details
    • Contact for pricing
      1,367 SF

      Brewerytown Townhome with Garage

      Three-bedroom townhome in gated community with garage and modern amenities.
      35 Brewerytown Ct, Philadelphia, PA 19121
      View Details
    • Contact for pricing
      21,396 SF

      Former Walgreens Freestanding Retail Space

      Freestanding retail space in a densely populated area.
      2014 S Broad St, Philadelphia, PA 19121
      View Details
    • $2,600 /Mo
      1,742 SF

      Prime Retail Space Near Temple

      2,000 SF storefront on Cecil B. Moore Avenue.
      1535 Cecil B Moore Ave, Philadelphia, PA 19121
      View Details
    • $25 SF/Yr
      3,397 SF

      Street Level Retail/Office Space

      Retail/office space with residential units above and industrial architecture.
      3101 W Glenwood Ave, Philadelphia, PA 19121
      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.
    1623 Willington St
    Philadelphia, PA 19121-3263
    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.