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    603 Chester Pike, Unit 615 Ridley Park, PA 19078-1801

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    603 Chester Pike, Unit 615 Ridley Park, PA 19078-1801

    View on Map
    • Commercial real estate
    • 4,800 SF
    • 0.81 lot acres
    Off-Market
    Property ID
    US73-1654472
    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
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Bouquet Shop / (Bike/Boat/Book/etc) Store / Florist

    Property Details for 603 Chester Pike

    Year built
    1950
    Lot size
    0.81 lot acres
    Property size
    4,800 SF
    Property type
    Commercial real estate
    APN
    37-00-00351-00
    APU
    37000035100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $790,000
      6.5%
      $730,000
      7%
      $680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $693,000
      Market price range: $228k - $732k
      AI Estimate
      $495,000
      Market price range: $214k - $495k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $460,000
      Current use
      AUTO REPAIR, GARAGE
      $570,000
      Change: +24% Conversion: Difficult
      OFFICE BUILDING
      $545,000
      Change: +18% Conversion: Easy
      WAREHOUSE, STORAGE
      $370,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ridley Park
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.3107
    Latitude
    39.8805
    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
    2024
    $19,016
    $336,310
    $313,620
    $649,930
    -
    $0.00
    $0.00
    $649,930

    Comparable in this City

    • Value Estimation
      $575,000
      4,890 SF

      105 Stewart Ave

      COMMERCIAL (GENERAL) • 4,890 SF
      105 Stewart Ave, Ridley Park, PA 19078-1001
      View Details
    • Value Estimation by Request
      2,040 SF

      642 Chester Pike

      COMMERCIAL (GENERAL) • 2,040 SF
      642 Chester Pike, Ridley Park, PA 19078-1701
      View Details
    • Value Estimation by Request
      7,510 SF

      601 Chester Pike

      COMMERCIAL (GENERAL) • 7,510 SF
      601 Chester Pike, Ridley Park, PA 19078-1801
      View Details
    • Value Estimation by Request
      1,504 SF

      115 Sellers Ave

      COMMERCIAL (GENERAL) • 1,504 SF
      115 Sellers Ave, Ridley Park, PA 19078-2307
      View Details
    • Value Estimation by Request
      4,017 SF

      22 Sellers Ave

      COMMERCIAL (GENERAL) • 4,017 SF
      22 Sellers Ave, Ridley Park, PA 19078-2257
      View Details
    • Value Estimation by Request
      3,032 SF

      121 Sellers Ave

      COMMERCIAL (GENERAL) • 3,032 SF
      121 Sellers Ave, Ridley Park, PA 19078-2307
      View Details

    Similar Nearby for Sale

    • $60,000

      Land in Historic Ridley Park

      Located in historic area, subject to zoning regulations.
      32 West Sellers Ave, Ridley Park, PA 19078
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      Accessible Commercial Space Near I-95

      3,145 SF commercial space with easy highway and airport access.
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      15,400 SF

      Ridley Park Office Building For Sale

      15,400 SF office building with space available for sale.
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      2,700 SF

      Medical Office Condo Near Hospital

      2,700 SF medical office condo near Taylor Hospital.
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      View Details
    • $580,000
      1,973 SF

      Renovated Multi-Unit Property

      Multi-unit property renovated in 2025 with Airbnb potential.
      9 West Hinckley Ave, Ridley Park, PA 19078
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    Similar Nearby for Lease

    • Contact for pricing
      2,800 SF

      Office Space for Rent

      Office space available for rent, approximately 250 square feet.
      6 E Hinckley Ave, Ridley Park, PA 19078
      View Details
    • Contact for pricing
      620 SF

      Retail Storefront with Built-In Hood

      620 SF retail storefront with hood and restroom for rent.
      241 E Chester Pike, Ridley Park, PA 19078
      View Details
    • Contact for pricing
      11,699 SF

      Medical Office Space Available

      Recently renovated medical building with space for lease.
      175 East Chester Pike, Ridley Park, PA 19078
      View Details
    • Contact for pricing
      3,707 SF

      Historic Office Space For Rent

      Office space in historic building with planned renovations and amenities.
      1510 Chester Pike, Crum Lynne, PA 19078
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space on Swarthmore Avenue

      Modern retail space with high frontage and ample parking.
      611 N Swarthmore Ave, Ridley Park, PA 19078
      View Details
    • Contact for pricing
      11,699 SF

      Medical Office Space For Lease

      Medical office space available in Ridley Park, Pennsylvania.
      1 Bartol Ave, Ridley Park, PA 19078
      View Details
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    Ridley Park, PA 19078-1801
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    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
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