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

    2981 Grant Ave Philadelphia, PA 19114-1024

    • Office buildings
    • 11,437 SF
    • 2.91 lot acres
    OFF-MARKET
    Value Estimations
    $2,455,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5874759
    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

    • Cassandra Colosimo / Physician Assistant / Family Practice Physician
    • Laser Perfection / Tattoo Removal Service / Skin Care Clinic
    • Philadelphia Laser Pain Center / Chiropractor / Sports Medicine Clinic
    • Beauty SkinCare Spa / Spa
    • Dr. Richard Mandel / Family Practice Physician

    Property Details for 2981 Grant Ave

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.91 lot acres
    Property size
    11,437 SF
    Zone code
    I2
    Property type
    Office buildings
    APN
    88-3-2877-00
    APU
    883287700

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,675,000
      6.5%
      $2,470,000
      7%
      $2,295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,005,000
      Market price range: $1.58M - $4.97M
      AI Estimate
      $1,892,000
      Market price range: $549k - $2.67M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,910,000
      Current use
      RESTAURANT
      $3,540,000
      Change: +22% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $3,180,000
      Change: +9% Conversion: Easy
      MEDICAL BUILDING
      $2,810,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.0133
    Latitude
    40.073
    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
    $26,595
    $379,980
    $1,519,920
    $1,899,900
    -
    $379,980
    $1,519,920
    $1,899,900

    Comparable in this City

    • Value Estimation
      $1,470,000
      7,220 SF

      3790 Morrell Ave

      OFFICE BUILDING • 7,220 SF
      3790 Morrell Ave, Philadelphia, PA 19114-1955
      View Details
    • Value Estimation
      $3,635,000
      19,980 SF

      10101 Academy Rd

      OFFICE BUILDING • 19,980 SF
      10101 Academy Rd, Philadelphia, PA 19114-1120
      View Details
    • Value Estimation
      $2,735,000
      13,185 SF

      9810 Ashton Rd

      OFFICE BUILDING • 13,185 SF
      9810 Ashton Rd, Philadelphia, PA 19114-1017
      View Details
    • Value Estimation
      $14,635,000
      78,202 SF

      9815 Roosevelt Blvd

      OFFICE BUILDING • 78,202 SF
      9815 Roosevelt Blvd, Philadelphia, PA 19114-1035
      View Details
    • Value Estimation by Request
      2,000 SF

      9118 Frankford Ave

      OFFICE BUILDING • 2,000 SF
      9118 Frankford Ave, Philadelphia, PA 19114-2843
      View Details
    • Value Estimation
      $850,000
      5,000 SF

      9227th Roosevelt Blvd, Unit 31

      OFFICE BUILDING • 5,000 SF
      9227th Roosevelt Blvd, Philadelphia, PA 19114-2205
      View Details

    Similar Nearby for Sale

    • New
      $235,000
      922 SF

      Professional Office Condo For Sale

      Turnkey office condo with convenient parking and accessibility.
      10501 Academy Rd, Philadelphia, PA 19114
      View Details
    • Contact for pricing
      29,000 SF

      Medical Office Investment Opportunity

      Value-add medical office building for sale in Northeast Philadelphia.
      9200 Marshall St, Philadelphia, PA 19114
      View Details
    • $820,000
      2,560 SF

      Retail Building at Frankford & Knights

      2,560 SF retail building in Northeast Philadelphia for sale.
      9901 Frankford Ave, Philadelphia, PA 19114
      View Details
    • Contact for pricing

      2.02 Acres Commercial Land Available

      2.02 acres of divisible commercial land for lease.
      9200 James St, Philadelphia, PA 19114
      View Details
    • $420,000
      2,016 SF

      East Torresdale Duplex Investment Opportunity

      Turnkey duplex with strong rental history in Northeast Philadelphia.
      4311 Pearson Ave, Philadelphia, PA 19114
      View Details
    • $350,000
      Pending

      East Torresdale Duplex Opportunity

      Desirable duplex in East Torresdale with updated apartments.
      9321 Walker St, Philadelphia, PA 19114
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,550 SF

      Multi-Tenant Office Building Available

      65,300 SF Class B office building for rent.
      9300-9350 Ashton Rd, Philadelphia, PA 19114
      View Details
    • Contact for pricing
      3,055 SF

      Medical Office with Exam Rooms

      Lease ready medical office with multiple exam rooms.
      3108-3110 Grant Ave, Philadelphia, PA 19114
      View Details
    • Contact for pricing
      745 SF

      Retail Space in Academy Plaza

      Retail space available within a busy Philadelphia shopping center.
      3294 Red Lion Rd, Philadelphia, PA 19114
      View Details
    • Contact for pricing
      2,698 SF

      Prime Retail Space in Philadelphia

      Retail space in a high-traffic Philadelphia location.
      9100 Blue Grass Rd, Philadelphia, PA 19114
      View Details
    • Contact for pricing
      6,426 SF

      Retail Space in Northeast Philadelphia

      Retail space available in a densely populated Philadelphia neighborhood.
      9161-9175 Roosevelt Blvd, Philadelphia, PA 19114
      View Details
    • $20,000 /Mo

      Philadelphia Commercial Space For Rent

      Commercial property available for rent in Philadelphia, Pennsylvania.
      2503 Welsh Rd, Philadelphia, PA 19114
      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.
    2981 Grant Ave
    Philadelphia, PA 19114-1024
    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.