Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    603 3rd St, Unit 5 Philadelphia, PA 19147-2301
    Back to Search
    Property profile & analytics

    603 3rd St, Unit 5, Philadelphia, PA 19147-2301

    View on Map
    • Turn key restaurants
    • 5,587 SF
    • 0.07 lot acres
    Off-Market
    Property ID
    US73-2697567
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cloud 9 Smoke Shop / (Bike/Boat/Book/etc) Store
    • SpiT Fire Philly / Fire Station

    Property Details for 603 3rd St

    Year built
    1900
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Zone code
    CMX2
    Property type
    Turn key restaurants
    APN
    87-1-4034-80
    APU
    871403480

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 11, 2019 — Mdnc South LLC Mdnc South LLC Quit Claim Deed · related $375k · Frank V Sica
    Dec 5, 2018 — Mdnc South LLC — Deed · related $55k · Excel Fin'l
    — — Mdnc South LLC — Deed Of Trust · related $55k · Excel Fin'l
    — — Michael G Clark — Deed Of Trust · related $375k · Frank V Sica
    — — Mdnc South LLC — Deed Of Trust · related $610k · Bnb Bank NA
    — — Mdnc South LLC — Deed Of Trust · related $230k · Bnb Bank NA
    — — Mdnc South LLC — Deed Of Trust · related $200k · Commerce Bk/pa

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1474
    Latitude
    39.9412
    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
    $14,990
    $214,100
    $856,800
    $1,070,900
    -
    $214,100
    $856,800
    $1,070,900

    Comparable in this City

    • Value Estimation by Request
      4,740 SF

      300-02 Ss St

      RESTAURANT
      300-02 Ss St, Philadelphia, PA 19147
      View Details
    • Value Estimation by Request
      3,895 SF

      400 Ss St

      RESTAURANT
      400 Ss St, Philadelphia, PA 19147-1521
      View Details
    • Value Estimation by Request
      1,600 SF

      1305 Dickinson St

      RESTAURANT
      1305 Dickinson St, Philadelphia, PA 19147
      View Details
    • Value Estimation by Request
      3,456 SF

      1019 11th St, Unit 21

      RESTAURANT
      1019 11th St, Philadelphia, PA 19147-3829
      View Details
    • Value Estimation by Request
      2,934 SF

      1214 2nd St

      RESTAURANT
      1214 2nd St, Philadelphia, PA 19147-5404
      View Details
    • Value Estimation
      $610,000
      8,885 SF

      509 2nd St, Unit 11

      RESTAURANT
      509 2nd St, Philadelphia, PA 19147-2408
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      South Street Commercial Gem

      Philadelphia Mixed-Use Investment Opportunity
      344 South St, Philadelphia, PA 19147
      View Details
    • Contact for pricing
      7,476 SF

      Landmark Restaurant Property For Sale

      Second-generation restaurant with real estate, fixtures, equipment, and liquor license.
      300 South St, Philadelphia, PA 19147
      View Details
    • Contact for pricing

      Historic Italian Market Mixed-Use Property

      Three-story mixed-use property in Philadelphia's historic Italian Market.
      1015 S 9Th St, Philadelphia, PA 19147
      View Details
    • $750,000
      Pending

      Mixed-Use Property with Parking

      Mixed-use property in Society Hill/Bella Vista with income potential.
      522 South 5Th St, Philadelphia, PA 19147
      View Details
    • $999,000
      3,000 SF

      Mixed-Use Corner Building with Income

      Three-story corner building with commercial and residential units for sale.
      1200 South St, Philadelphia, PA 19147
      View Details
    • Contact for pricing

      Iconic Italian Market Investment Opportunity

      Turnkey two-unit building with commercial space in South Philadelphia.
      947 S 9Th St, Philadelphia, PA 19147
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      1,529 SF

      Retail Space in Queen Village

      800 SF retail space with basement in Philadelphia.
      522 S 5Th St, Philadelphia, PA 19147
      View Details
    • $28 SF/Yr

      Italian Market Retail Space Available

      Prime retail location in Philadelphia's iconic Italian Market.
      925-927 South 9Th St, Philadelphia, PA 19147
      View Details
    • Contact for pricing
      8,000 SF

      Retail/Office Space on Broad Street

      Ground floor retail/office space in a residential building.
      777 S Broad St, Philadelphia, PA 19147
      View Details
    • Contact for pricing

      Retail Space on South Street

      Unique retail space in high-traffic South Street location.
      329 South St, Philadelphia, PA 19147
      View Details
    • $2,000 /Mo
      749 SF

      Prime Retail Space on South

      700 SF retail space in vibrant Philadelphia neighborhood.
      341 South St, Philadelphia, PA 19147
      View Details
    • Contact for pricing
      2,575 SF

      Retail Space Across From Whole Foods

      Retail space available across from Whole Foods on South Street.
      920 South St, Philadelphia, PA 19147
      View Details

    Property Visit Statistics

    • Visits by month
      793
    • Visitors by month
      434
    • Avg Time on site
      16 min
    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.
    603 3rd St, Unit 5
    Philadelphia, PA 19147-2301
    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
    603 3rd St, Philadelphia, PA, 19147
    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!