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

    40 Spring Garden St Sta, Unit A Philadelphia, PA 19123-3117

    • Refrigerated & Cold Storages
    • 178,542 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Dec 22, 2021
    Value Estimations
    $16,730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3224345
    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

    • Refrigerated & Cold Storages

    Property Details for 40 Spring Garden St Sta

    Year built
    1910
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.46 lot acres
    Property size
    178,542 SF
    Property type
    Refrigerated & Cold Storages
    APN
    88-4-0000-09
    APU
    884000009

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $22,994,000
      Market price range: $9.18M - $41.7M
      AI Estimate
      $10,460,000
      Market price range: $3.84M - $18.7M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $22,995,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1387
    Latitude
    39.9599
    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
    $68,930
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $10,712,500

    Comparable in this City

    • Value Estimation
      $3,175,000
      57,750 SF

      50 Spg Gdn St

      COLD STORAGE • 57,750 SF
      50 Spg Gdn St, Philadelphia, PA 19123-3117
      View Details
    • Value Estimation
      $3,025,000
      4,874 SF

      501 Frnt St

      COLD STORAGE • 4,874 SF
      501 Frnt St, Philadelphia, PA 19123-4207
      View Details
    • Value Estimation
      $530,000
      17,120 SF

      40 Spg Gdn Stb

      COLD STORAGE • 17,120 SF
      40 Spg Gdn Stb, Philadelphia, PA 19123-3117
      View Details
    • Value Estimation
      $1,380,000
      13,500 SF

      982 Delaware Ave, Unit 88

      COLD STORAGE • 13,500 SF
      982 Delaware Ave, Philadelphia, PA 19123-3111
      View Details
    • Value Estimation
      $3,905,000
      149,832 SF

      510 Christopher Columbus Blvda

      COLD STORAGE • 149,832 SF
      510 Christopher Columbus Blvda, Philadelphia, PA 19123-4239
      View Details
    • Value Estimation
      $1,895,000
      69,288 SF

      500 Chris Columbus Blvd

      COLD STORAGE • 69,288 SF
      500 Chris Columbus Blvd, Philadelphia, PA 19123
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Industrial Warehouse in Spring Garden

      17,950 SF warehouse for sale or lease in Philadelphia.
      827 Spring Garden St, Philadelphia, PA 19123
      View Details
    • Contact for pricing
      17,950 SF

      Spring Garden Street Retail Space

      High-traffic retail storefront, excellent location.
      827 Spring Garden St, Philadelphia, PA 19123
      View Details
    • $779,000
      3,252 SF

      Mixed-Use Property on Spring Garden

      Three-story mixed-use building with retail and residential units.
      937 Spring Garden St, Philadelphia, PA 19123
      View Details
    • $625,000
      1,998 SF

      Updated Philadelphia Home with Parking

      Move-in ready 4-bedroom home with off-street parking and modern updates.
      1202 Mount Vernon St, Philadelphia, PA 19123
      View Details
    • Contact for pricing

      Northern Liberties Retail Opportunities

      Retail spaces available in a new Northern Liberties development.
      700 Delaware Ave, Philadelphia, PA 19123
      View Details
    • $779,000
      2,836 SF

      Mixed-Use Property on Spring Garden

      Versatile mixed-use property with commercial space and residential unit.
      923 Spring Garden St, Philadelphia, PA 19123
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,800 SF

      Spring Garden Street Warehouse

      12,800 SF Warehouse, Prime Location
      606 Spring Garden St, Philadelphia, PA 19123
      View Details
    • Contact for pricing
      17,950 SF

      Prime Philadelphia Warehouse Space

      17,950 SF Warehouse, 11 Parking Spots
      827 Spring Garden St, Philadelphia, PA 19123
      View Details
    • Contact for pricing
      34,000 SF

      Industrial Space with Freezer/Cooler

      34,000 SF industrial space with freezer/cooler for lease.
      913 Wallace St, Philadelphia, PA 19123
      View Details
    • Contact for pricing
      35,428 SF

      Industrial Space with Loading Docks

      Industrial property featuring loading docks and flexible mixed-use zoning.
      1500 N 5Th St, Philadelphia, PA 19123
      View Details
    • $35 SF/Yr
      6,713 SF

      Multipurpose Space with Parking

      6,713 SF space suitable for medical, retail, or flex use.
      309 Callowhill St, Philadelphia, PA 19123
      View Details
    • $22 SF/Yr
      42,085 SF

      Historic Northern Liberties Office Space

      Boutique Office Building, 3 Suites Available
      461 3Rd St, Philadelphia, PA 19123
      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.
    40 Spring Garden St Sta, Unit A
    Philadelphia, PA 19123-3117
    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.