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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1624 Chestnut St Philadelphia, PA 19103-5119

    • Retail space
    • 5,800 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2513727
    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

    • La'Bella MAFIA | MOBILE HAIR & MAKEUP ARTISTS / Cosmetic Store
    • ELITE | MOBILE HAIR & MAKEUP ARTISTS / Cosmetic Store
    • ELLURE | MOBILE HAIR & MAKEUP ARTISTS / Cosmetic Store
    • Men's Wearhouse / Clothing & Fashion Store

    Property Details for 1624 Chestnut St

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    5,800 SF
    Zone code
    CMX5
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    88-2-0333-00
    APU
    882033300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $454,000
      Market price range: $258k - $677k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $995,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,075,000
      Change: +8% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $915,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1683
    Latitude
    39.9511
    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
    $25,278
    $361,160
    $1,444,640
    $1,805,800
    -
    $361,160
    $1,444,640
    $1,805,800

    Comparable in this City

    • Value Estimation
      $1,945,000
      19,664 SF

      1730 Chestnut St, Unit 32

      STORE, RETAIL OUTLET • 19,664 SF
      1730 Chestnut St, Philadelphia, PA 19103-5120
      View Details
    • Value Estimation
      $2,680,000
      29,193 SF

      1900 Chestnut St, Unit 6

      STORE, RETAIL OUTLET • 29,193 SF
      1900 Chestnut St, Philadelphia, PA 19103-4610
      View Details
    • Value Estimation
      $850,000
      7,899 SF

      1711 Walnut St

      STORE, RETAIL OUTLET • 7,899 SF
      1711 Walnut St, Philadelphia, PA 19103-5204
      View Details
    • Value Estimation
      $1,235,000
      10,248 SF

      1715 Walnut St

      STORE, RETAIL OUTLET • 10,248 SF
      1715 Walnut St, Philadelphia, PA 19103-5204
      View Details
    • Value Estimation by Request
      2,474 SF

      119 18th St

      STORE, RETAIL OUTLET • 2,474 SF
      119 18th St, Philadelphia, PA 19103-5122
      View Details
    • Value Estimation
      $525,000
      4,200 SF

      1901 Chestnut St

      STORE, RETAIL OUTLET • 4,200 SF
      1901 Chestnut St, Philadelphia, PA 19103-3500
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,891 SF

      Rittenhouse Retail Space Available

      Turn-key retail space in prime Rittenhouse location.
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      3,642 SF

      Prime Retail Space on Chestnut

      Flagship retail space on Philadelphia's busiest corner.
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      Center City Retail Space Available

      Retail space available in high-traffic Center City location.
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      456,370 SF

      Retail Space in Logan Square

      Prime retail space available in Logan Square, Philadelphia.
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      Prime Rittenhouse Retail Space

      2,180 SF retail space with basement and alley access.
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      Retail Space in Logan Square

      Retail space available in 2026 in affluent Logan Square.
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    Similar Nearby for Lease

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      215,873 SF

      Prime Philadelphia Retail Space

      Chestnut Street Retail Opportunity: 6 Spaces Available
      1625 Chestnut St, Philadelphia, PA 19103
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    • $35 SF/Yr
      3,500 SF

      Rittenhouse Square Retail Space Available

      Retail spaces in dense, affluent Rittenhouse Square neighborhood.
      2101 Walnut St, Philadelphia, PA 19103
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    • $4,000 /Mo
      2,000 SF

      Multi-Floor Retail Space Near Rittenhouse

      2,000 SF multi-floor retail space near Rittenhouse Square.
      1804 Chestnut St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      1,700 SF

      Prime Retail Space in Rittenhouse

      Ground floor retail space in a high-traffic location.
      2032 Chestnut St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      1,815 SF

      Market Street Retail Opportunity

      Two retail spaces available in luxury residential conversion.
      1701 Market St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      2,690 SF

      Prime Retail Space in Philadelphia

      Retail space in vibrant Rittenhouse Square neighborhood, Philadelphia.
      1718 Sansom St, Philadelphia, PA 19103
      View Details
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    1624 Chestnut St
    Philadelphia, PA 19103-5119
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    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
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