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

    3101 Market St Philadelphia, PA 19104-2806

    • Parking lots & garages
    • 3,696 SF
    • 0.73 lot acres
    OFF-MARKET
    Value Estimations
    $3,540,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5120687
    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

    • Drexel University Institute For Energy And The Environment / Academic Department
    • Drexel University Innovation Studio / Academic Department
    • Raptor Robotics / Research And Product Development / Engineering Consultant
    • Park America / Parking Lot & Garage
    • Parkway Parking - 3101 Market Street / Parking Lot & Garage

    Property Details for 3101 Market St

    Lot size
    0.73 lot acres
    Property size
    3,696 SF
    Zone code
    CMX5
    Property type
    Parking lots & garages
    APN
    88-5-5011-40
    APU
    885501140

    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
    -75.1857
    Latitude
    39.9554
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $4,750,700

    Comparable in this City

    • Value Estimation by Request
      1.32 Acres

      4039 Warren St, Unit 81

      PARKING LOT • 1.32 Acres
      4039 Warren St, Philadelphia, PA 19104-1716
      View Details
    • Value Estimation by Request
      1.27 Acres

      3816 Market St, Unit 40

      PARKING LOT • 1.27 Acres
      3816 Market St, Philadelphia, PA 19104
      View Details
    • Value Estimation by Request
      0.33 Acres

      600 41st St

      PARKING LOT • 0.33 Acres
      600 41st St, Philadelphia, PA 19104
      View Details
    • Value Estimation by Request
      0.14 Acres

      108 38th St, Unit 16

      PARKING LOT • 0.14 Acres
      108 38th St, Philadelphia, PA 19104-3152
      View Details
    • Value Estimation
      $1,480,000
      3,282 SF

      4124 Ludlow St

      PARKING GARAGE, PARKING STRUCTURE • 3,282 SF
      4124 Ludlow St, Philadelphia, PA 19104-3036
      View Details
    • Value Estimation
      $3,050,000
      2,236 SF

      4200 Market St, Unit 14

      PARKING LOT • 2,236 SF
      4200 Market St, Philadelphia, PA 19104-3007
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,520 SF

      University City Retail Space Available

      Retail space available in University City with high household density.
      4040 Locust St, Philadelphia, PA 19104
      View Details
    • New
      $685,000
      0.07 Acres

      University City Commercial Corner Property

      Two-story commercial building in prime University City location.
      4147 Woodland Ave, Philadelphia, PA 19104
      View Details
    • $210,000
      0.04 Acres

      Commercial Space in University City

      Commercial space suitable for office, coffee shop, or salon.
      4088 Haverford Ave, Philadelphia, PA 19104
      View Details
    • Contact for pricing
      22,950 SF

      Retail Space in High-Traffic Location

      Retail space with high visibility and access to residential population.
      3701 Chestnut St, Philadelphia, PA 19104
      View Details
    • Contact for pricing

      Retail Space in University City

      Retail space available in a luxury residential tower.
      3720 Chestnut St, Philadelphia, PA 19104
      View Details
    • Contact for pricing
      4,547 SF

      Prime Restaurant/Retail Space Available

      Restaurant/retail space near University City Campus and 30th Street Station.
      2930 Chestnut St, Philadelphia, PA 19104
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,257 SF

      University City Retail Space Available

      Retail space in dynamic University City Life Science District.
      3201 Cuthbert St, Philadelphia, PA 19104
      View Details
    • $5,500 /Mo
      7,405 SF

      Prime University City Commercial Space

      Highly visible commercial space in a dynamic Philadelphia location.
      4009 Market St, Philadelphia, PA 19104
      View Details
    • $2,500 /Mo
      4,792 SF

      Restaurant Space on Lancaster Avenue

      Turnkey restaurant opportunity in West Philadelphia with high visibility.
      4323 Lancaster Ave, Philadelphia, PA 19104
      View Details
    • Contact for pricing
      8,000 SF

      Lancaster Avenue Retail Space

      Retail space available for lease on Lancaster Avenue.
      4151 Lancaster Ave, Philadelphia, PA 19104
      View Details
    • $2,400 /Mo
      871 SF

      Lancaster Avenue Commercial Space Available

      Prime ground floor commercial unit for rent in Philadelphia.
      4250 Lancaster Ave, Philadelphia, PA 19104
      View Details
    • Contact for pricing
      22,950 SF

      Prime Chestnut Street Retail Space

      22,950 SF Retail, Philadelphia, PA
      3701 Chestnut St, Philadelphia, PA 19104
      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.
    3101 Market St
    Philadelphia, PA 19104-2806
    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.