Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3062 Richmond St Philadelphia, PA 19134-5807

    • Investment properties
    • 2,907 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0202076
    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

    • Investment properties

    Property Details for 3062 Richmond St

    Year built
    1915
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.05 lot acres
    Property size
    2,907 SF
    Zone code
    CMX2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    87-1-5317-30
    APU
    871531730

    Description

    This exceptional 1,850 square foot single-tenant office space at 3062 Richmond St, Philadelphia, PA 19134 is ideally situated in the Port Richmond submarket. Built in 2000 and extensively renovated in 2022, this property offers a modern and functional layout suitable for various office uses, including coworking, medical, creative, and traditional office settings. The space is zoned CMX2 and features a 2,500 square foot lot. While there is no on-site parking, its convenient location near East Clearfield Street offers easy access to public transportation and other amenities. The property is serviced by Peco Electric and does not include elevators. A minimum three-year lease term is preferred, with options to renew. The move-in costs include first month's rent, last month's rent, and a security deposit totaling $2500 NNN. This is a fantastic opportunity for businesses seeking a well-maintained, adaptable space in a thriving Philadelphia neighborhood. All information is deemed reliable but not guaranteed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1044
    Latitude
    39.9818
    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
    $3,159
    $45,140
    $180,560
    $225,700
    -
    $45,140
    $180,560
    $225,700

    Comparable in this City

    • Value Estimation by Request
      1,260 SF

      3451 G St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,260 SF
      3451 G St, Philadelphia, PA 19134-1301
      View Details
    • Value Estimation by Request
      1,458 SF

      3106 G St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,458 SF
      3106 G St, Philadelphia, PA 19134-2419
      View Details
    • Value Estimation by Request
      1,050 SF

      1854 Hart Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 1,050 SF
      1854 Hart Ln, Philadelphia, PA 19134-3536
      View Details
    • Value Estimation by Request
      1,176 SF

      3259 Rorer St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,176 SF
      3259 Rorer St, Philadelphia, PA 19134-1720
      View Details
    • Value Estimation by Request
      1,808 SF

      249 Tioga St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,808 SF
      249 Tioga St, Philadelphia, PA 19134-1033
      View Details
    • Value Estimation by Request
      1,046 SF

      208 Cambria St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,046 SF
      208 Cambria St, Philadelphia, PA 19134-3329
      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
    • $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
    • $39,900
      0.02 Acres

      Philadelphia Land in Opportunity Zone

      Residential development opportunity in Philadelphia's Qualified Opportunity Zone.
      414 E Allegheny Ave, 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
    • $1,200 /Mo
      55,757 SF

      Office Studio in Jasper Studios

      Office studio in Philadelphia's Jasper Studios, ready for immediate occupancy.
      2930 Jasper St, Philadelphia, PA 19134
      View Details
    • $1,700 /Mo
      1,307 SF

      Renovated Commercial Space with Yard

      Move-in ready commercial space with modern updates and private yard.
      2950 Kensington Ave, Philadelphia, PA 19134
      View Details
    • $1,650 /Mo
      1,307 SF

      Office Space Near Temple Hospital

      Prime commercial space ideal for medical or professional use.
      2248 E Allegheny Ave, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      3,408 SF

      Port Richmond Artist Studio Building

      Two-story artist studio building with professional artist studios/office space.
      3130-34 Belgrade St, 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.
    3062 Richmond St
    Philadelphia, PA 19134-5807
    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!