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

    608 Lehigh Ave, Unit 14 Philadelphia, PA 19133-2227

    • Apartment buildings
    • 3,360 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2755218
    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

    • Apartment buildings

    Property Details for 608 Lehigh Ave

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property size
    3,360 SF
    Zone code
    CMX2
    Property type
    Apartment buildings
    APN
    88-1-4504-00
    APU
    881450400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $935,000
      Current use
      OFFICE BUILDING
      $855,000
      Change: -9% Conversion: Moderate
      MEDICAL BUILDING
      $825,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1427
    Latitude
    39.9921
    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
    $721,500
    -
    $0.00
    $0.00
    $721,500

    Comparable in this City

    • Value Estimation
      $7,585,000
      44,294 SF

      2935 2nd St, Unit 65

      APARTMENT HOUSE (5+ UNITS) • 44,294 SF
      2935 2nd St, Philadelphia, PA 19133-3870
      View Details
    • Value Estimation
      $930,000
      7,792 SF

      3009 Percy St

      APARTMENT HOUSE (5+ UNITS) • 7,792 SF
      3009 Percy St, Philadelphia, PA 19133-1830
      View Details
    • Value Estimation
      $13,280,000
      68,018 SF

      2600 Frnt St

      APARTMENT HOUSE (5+ UNITS) • 68,018 SF
      2600 Frnt St, Philadelphia, PA 19133-4030
      View Details
    • Value Estimation
      $4,225,000
      24,657 SF

      2300 13th St, Unit 60

      APARTMENT HOUSE (5+ UNITS) • 24,657 SF
      2300 13th St, Philadelphia, PA 19133-1011
      View Details
    • Value Estimation
      $750,000
      2,800 SF

      2400 2nd St

      APARTMENT HOUSE (5+ UNITS) • 2,800 SF
      2400 2nd St, Philadelphia, PA 19133-3400
      View Details
    • Value Estimation
      $9,440,000
      55,113 SF

      173 Allegheny Ave, Unit 83

      APARTMENT HOUSE (5+ UNITS) • 55,113 SF
      173 Allegheny Ave, Philadelphia, PA 19133-3947
      View Details

    Similar Nearby for Sale

    • $100,000
      0.09 Acres

      Large Land Parcel in Philadelphia

      Four consecutive lots totaling 3920 sqft in developing neighborhood.
      2923-29 N Fairhill St, Philadelphia, PA 19133
      View Details
    • $570,000
      2,700 SF

      North Philly Duplex Investment

      New Construction, 7% Cap Rate, 2 Units
      2327 3Rd St, Philadelphia, PA 19133
      View Details
    • $559,000
      2,732 SF

      Turnkey Mixed-Use Quadplex Near Temple

      Low-maintenance quadplex with commercial space near Temple University.
      2316 N 9Th St, Philadelphia, PA 19133
      View Details
    • $225,000
      2,025 SF

      Philadelphia Duplex in Growing Neighborhood

      Duplex in West Kensington, Philadelphia, near redevelopment and transportation.
      2542 N Front St, Philadelphia, PA 19133
      View Details
    • $290,000
      1,425 SF

      Renovated Duplex in North Philadelphia

      Modern, fully updated duplex with excellent investment potential.
      1229 W Somerset St, Philadelphia, PA 19133
      View Details
    • New
      $140,000
      1,310 SF

      Philadelphia Multifamily Property for Sale

      Multifamily property in Philadelphia, Pennsylvania, with 1310 square feet.
      2957 N 5Th St, Philadelphia, PA 19133
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      6,742 SF

      Flex Space with Redundant Power

      Flex space available for rent with redundant power feeds.
      3111 W Allegheny Ave, Philadelphia, PA 19133
      View Details
    • $950 /Mo

      Cozy Apartment in Prime Location

      One-bedroom apartment with easy access to amenities and transportation.
      2366 N 4Th St, Philadelphia, PA 19133
      View Details
    • $2,600 /Mo
      1,728 SF

      Renovated Home Near Norris Square

      Renovated 4-bedroom home with modern amenities and convenient location.
      2211 N Howard St, Philadelphia, PA 19133
      View Details
    • New
      $2,500 /Mo
      1,307 SF

      Philadelphia Commercial Doctor's Office

      Functional commercial space with residential unit for income or office.
      2724 N 5Th St, 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
    • $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
    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.
    608 Lehigh Ave, Unit 14
    Philadelphia, PA 19133-2227
    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.