Add Listing
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

    2600 Somerset St Philadelphia, PA 19134-4752

    • Investment properties
    • 3,263 SF
    • 0.03 lot acres
    OFF-MARKET
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0618263
    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

    • Somerset Splits / Grocery & Convenience Store / Specialty Food Shop

    Property Details for 2600 Somerset St

    Year built
    1925
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.03 lot acres
    Property size
    3,263 SF
    Zone code
    CMX1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    87-1-5308-10
    APU
    871530810

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $645,000
      6.5%
      $595,000
      7%
      $555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $418,000
      Market price range: $209k - $439k
      AI Estimate
      $535,000
      Market price range: $272k - $537k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $315,000
      Current use
      OFFICE BUILDING
      $830,000
      Change: +163% Conversion: Easy
      MEDICAL BUILDING
      $800,000
      Change: +154% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $605,000
      Change: +92% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $465,000
      Change: +48% Conversion: Difficult
      RETAIL STORES
      $445,000
      Change: +41% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1132
    Latitude
    39.9805
    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
    $3,768
    $53,840
    $215,360
    $269,200
    -
    $53,840
    $215,360
    $269,200

    Comparable in this City

    • Value Estimation by Request
      1,920 SF

      3501 Water St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,920 SF
      3501 Water St, Philadelphia, PA 19134-1027
      View Details
    • Value Estimation by Request
      2,175 SF

      3218 Frankford Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,175 SF
      3218 Frankford Ave, Philadelphia, PA 19134-3290
      View Details
    • Value Estimation by Request
      1,052 SF

      3108 G St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,052 SF
      3108 G St, Philadelphia, PA 19134-2419
      View Details
    • Value Estimation by Request
      1,152 SF

      3069 Swanson St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,152 SF
      3069 Swanson St, Philadelphia, PA 19134-2813
      View Details
    • Value Estimation by Request
      1,650 SF

      1000 Tioga St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,650 SF
      1000 Tioga St, Philadelphia, PA 19134-1429
      View Details
    • Value Estimation by Request
      1,600 SF

      116 Tioga St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,600 SF
      116 Tioga St, Philadelphia, PA 19134-1019
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Upscale Nightclub - Philadelphia, PA

      Profitable Nightclub with Outdoor Seating
      3861 Jasper St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      86,415 SF

      Mixed-Use Development Opportunity

      Mixed-use development opportunity with existing income and expansion potential.
      432 W Allegheny Ave, Philadelphia, PA 19134
      View Details
    • $169,900
      1,548 SF

      Philadelphia Mixed-Use Investment Opportunity

      Mixed-use property in revitalizing area near Allegheny and Kensington.
      1834 E Allegheny Ave, Philadelphia, PA 19134
      View Details
    • Contact for pricing

      Mixed-Use Property in Harrowgate

      Two-story mixed-use property in upcoming Harrowgate business district.
      3517 Kensington Ave, Philadelphia, PA 19134
      View Details
    • $104,900

      Mixed-Use Property with Rental Income

      Mixed-use property featuring commercial space and residential apartment with income.
      3106 G St, Philadelphia, PA 19134
      View Details
    • $699,000
      0.09 Acres

      Port Richmond Mixed-Use Development

      11-Unit Residential & Commercial Space
      2964 Richmond St, Philadelphia, PA 19134
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      33,000 SF

      Creative Mixed-Use & Retail Space

      33,000 SF mixed-use space suitable for various businesses.
      2216-2220 E Allegheny Ave, Philadelphia, PA 19134
      View Details
    • New
      $3,333 /Mo
      17,424 SF

      Renovated Office Space Available

      Recently renovated office space with modern amenities for lease.
      3317-41 Gaul St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      11,045 SF

      Prime Philadelphia Retail Space

      11,045 SF Retail Space - Available Now
      338 Allegheny Ave, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      16,500 SF

      Prime Philadelphia Retail Space

      16,500 SF Retail, Multiple Tenants
      124 Indiana Ave, Philadelphia, PA 19134
      View Details
    • $35,000
      16,434 SF

      Industrial Warehouse with Fenced Lot

      Spacious warehouse with fenced lot, high ceilings, and multiple doors.
      2950 Castor Ave, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      11,060 SF

      Prime Philadelphia Retail Space

      11,060 SF Freestanding Building
      2101 Allegheny Ave, Philadelphia, PA 19134
      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.
    2600 Somerset St
    Philadelphia, PA 19134-4752
    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.
    Sign Up Successful!
    You now have access to more from Realmo!