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

    401 Somerset St, Unit 11 Philadelphia, PA 19133-3137

    • Parking lots & garages
    • 0.45 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2442088
    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

    • Zipcar / Freight Service / Logistics Company

    Property Details for 401 Somerset St

    Year built
    1920
    Lot size
    0.45 lot acres
    Zone code
    RSA5
    Property type
    Parking lots & garages
    APN
    88-5-1913-00
    APU
    885191300

    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
    -75.1381
    Latitude
    39.9939
    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
    $145,600
    -
    $0.00
    $0.00
    $145,600

    Comparable in this City

    • Value Estimation by Request
      0.01 Acres

      2521 Mutter St

      PARKING LOT • 0.01 Acres
      2521 Mutter St, Philadelphia, PA 19133-3825
      View Details
    • Value Estimation by Request
      0.03 Acres

      2207 6th St

      PARKING LOT • 0.03 Acres
      2207 6th St, Philadelphia, PA 19133-2504
      View Details
    • Value Estimation by Request
      0.03 Acres

      3004 5th St

      PARKING LOT • 0.03 Acres
      3004 5th St, Philadelphia, PA 19133-2809
      View Details
    • Value Estimation by Request
      660 SF

      2514 Fairhill St

      PARKING GARAGE, PARKING STRUCTURE • 660 SF
      2514 Fairhill St, Philadelphia, PA 19133-2615
      View Details
    • Value Estimation by Request
      1,120 SF

      2518 Fairhill St

      PARKING GARAGE, PARKING STRUCTURE • 1,120 SF
      2518 Fairhill St, Philadelphia, PA 19133
      View Details
    • Value Estimation by Request
      726 SF

      151 Dauphin St, Unit 55

      PARKING GARAGE, PARKING STRUCTURE • 726 SF
      151 Dauphin St, Philadelphia, PA 19133-3708
      View Details

    Similar Nearby for Sale

    • $165,000
      1,074 SF

      House with Garages and Yard

      House with side yard and two garages for sale.
      703 W Indiana Ave, Philadelphia, PA 19133
      View Details
    • $829,000
      0.13 Acres

      Historic Philadelphia Commercial Property For Sale

      Former bank building with retail and office space in Philadelphia.
      1006-8 W Lehigh Ave, Philadelphia, PA 19133
      View Details
    • $4,000,000
      166,834 SF

      Philadelphia Car Wash - $4M

      High-volume car wash, 166K SF, 3.83 acres
      1001-13 Glenwood Ave, Philadelphia, PA 19133
      View Details
    • $1,000,000

      Prime Philadelphia Storefront

      ±20,025 SF Retail Space Available
      2342 Front St, Philadelphia, PA 19133
      View Details
    • $8,000,000
      88,915 SF

      Philadelphia Redevelopment Opportunity

      Mixed-use, high-income potential
      432 Allegheny Ave, Philadelphia, PA 19133
      View Details
    • New
      $559,000
      2,732 SF

      Turnkey Mixed-Use Quadplex Opportunity

      Mixed-use quadplex near Temple's campus with commercial space.
      2316 N 9Th St, Philadelphia, PA 19133
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo

      Retail Space in Philadelphia

      New construction retail space available for lease in Philadelphia.
      2449 N 2Nd St, Philadelphia, PA 19133
      View Details
    • $18 SF/Yr
      2,250 SF

      Ground Floor Retail Space Available

      2,250 SF retail space with dedicated outdoor area.
      2031 E Lehigh Ave, Philadelphia, PA 19133
      View Details
    • $324 /Mo
      1,000 SF

      Plaza Allegheny Retail Space

      Philadelphia Retail Opportunity: 1,000 SF Available
      238 Allegheny Ave, Philadelphia, PA 19133
      View Details
    • $18 SF/Yr
      2,403 SF

      Multi-Tenanted Building Near Transportation

      40,000 SF building with parking and transit access.
      2207 N American St, Philadelphia, PA 19133
      View Details
    • $27 SF/Yr
      1,000 SF

      Retail Space on Allegheny Avenue

      Retail space available for lease in Philadelphia, PA.
      236 W Allegheny Ave, Philadelphia, PA 19133
      View Details
    • $1,000 /Mo

      Retail Space in Philadelphia Available

      Retail property available for lease in Philadelphia, Pennsylvania.
      2228 N Front St, Philadelphia, PA 19133
      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.
    401 Somerset St, Unit 11
    Philadelphia, PA 19133-3137
    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.