Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3505 Bowman St, Unit 7 Philadelphia, PA 19129-1690
    Back to Search
    Property profile & analytics

    3505 Bowman St, Unit 7, Philadelphia, PA 19129-1690

    View on Map
    • Apartment buildings
    • 4,081 SF
    • 0.18 lot acres
    Off-Market
    Property ID
    US73-1291181
    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.
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3505 Bowman St

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.18 lot acres
    Zone code
    RSA5
    Property type
    Apartment buildings
    APN
    88-1-1364-00
    APU
    881136400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 30, 2019 — Michael R Havens — Deed · related $175k · Bryn Mawr Trust Co
    Aug 28, 2018 — Michael R Havens — Deed · related $50k · Dnb First NA
    May 7, 2012 — Michael R Havens Havens,michael Quit Claim Deed · related $1.9M · American Heritage FCU
    — — Michael R Havens — Deed Of Trust · related $100k · American Heritage FCU
    — — Michael R Havens — Deed Of Trust · related $50k · Dnb First NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,070,000
      6.5%
      $990,000
      7%
      $915,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,135,000
      Current use
      OFFICE BUILDING
      $1,040,000
      Change: -9% Conversion: Moderate
      MEDICAL BUILDING
      $1,000,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.189
    Latitude
    40.0113
    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
    $11,274
    $241,620
    $563,780
    $805,400
    -
    $241,620
    $563,780
    $805,400

    Comparable in this City

    • Value Estimation
      $23,435,000
      126,339 SF

      3510 Scotts Ln, Unit 30

      APARTMENT HOUSE (100+ UNITS)
      3510 Scotts Ln, Philadelphia, PA 19129-1566
      View Details
    • Value Estimation
      $10,405,000
      56,090 SF

      3232 Henry Ave, Unit 3

      APARTMENT HOUSE (5+ UNITS)
      3232 Henry Ave, Philadelphia, PA 19129-1241
      View Details
    • Value Estimation
      $2,170,000
      9,000 SF

      3460 Midvale Ave, Unit 62

      APARTMENT HOUSE (5+ UNITS)
      3460 Midvale Ave, Philadelphia, PA 19129-1453
      View Details
    • Value Estimation
      $13,205,000
      53,000 SF

      4328 Rdg Ave, Unit 42

      APARTMENT HOUSE (5+ UNITS)
      4328 Rdg Ave, Philadelphia, PA 19129-1740
      View Details
    • Value Estimation by Request
      3,200 SF

      3400 Henry Ave

      APARTMENT HOUSE (5+ UNITS)
      3400 Henry Ave, Philadelphia, PA 19129-1117
      View Details
    • Value Estimation
      $20,935,000
      38,740 SF

      2817 Queen Ln, Unit 35

      APARTMENT HOUSE (5+ UNITS)
      2817 Queen Ln, Philadelphia, PA 19129-1031
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,769 SF

      Mixed-Use Investment Property For Sale

      Three-story mixed-use property in Philadelphia's East Falls neighborhood.
      3479 Bowman St, Philadelphia, PA 19129
      View Details
    • Contact for pricing
      30,000 SF

      New Multifamily Property in Philadelphia

      Boutique 34-unit multifamily property in East Falls, Philadelphia.
      3503 Midvale Ave, Philadelphia, PA 19129
      View Details
    • Contact for pricing

      New Multifamily Property in Philadelphia

      Boutique 34-unit apartment building with commercial space for sale.
      3503 Midvale Ave, Philadelphia, PA 19129
      View Details
    • Contact for pricing
      3,769 SF

      East Falls Mixed-Use Corner Property

      Three-story mixed-use property with storefronts and apartments in East Falls.
      3401 Conrad St, Philadelphia, PA 19129
      View Details
    • Contact for pricing

      East Falls Commercial Space Available

      New construction retail space in Philadelphia's East Falls neighborhood.
      4442 Ridge Ave, Philadelphia, PA 19129
      View Details
    • $999,000
      7,800 SF

      Iconic East Falls Cornerstone Building

      Multigenerational landmark in flourishing Philadelphia community, dual-zoned.
      3711 Midvale Ave, Philadelphia, PA 19129
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr

      Loft-Style Office/Retail Space Available

      Office/retail space with private parking and shared loading dock.
      3251 Fox St, Philadelphia, PA 19129
      View Details
    • Contact for pricing
      245,000 SF

      Philadelphia Warehouse Space for Lease

      Divisible warehouse space with convenient access to major routes.
      4700 Wissahickon Ave, Philadelphia, PA 19129
      View Details
    • $19 SF/Yr
      1,712 SF

      Scotts Lane Office Suite 712

      Spacious Flex Office, Prime Location
      3502 Scotts Ln, Philadelphia, PA 19129
      View Details
    • Contact for pricing
      13,232 SF

      Industrial Warehouse with Large Acreage

      13,232 SF warehouse on 3.86 acres available for lease.
      3310 Fox St, Philadelphia, PA 19129
      View Details
    • Contact for pricing

      Conrad Street Retail/Daycare Opportunity

      Versatile space suitable for toy store, daycare, or family business.
      2-3426 Conrad St, Philadelphia, PA 19129
      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.
    3505 Bowman St, Unit 7
    Philadelphia, PA 19129-1690
    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

    Thank You for Inquiry
    3505 Bowman St, Philadelphia, PA, 19129
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!