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

    635 Erie Ave, Unit 53 Philadelphia, PA 19134-1208

    • Manufacturing properties
    • 146,450 SF
    • 4.42 lot acres
    OFF-MARKET
    Last Sale
    Oct 13, 2024
    $10,750,000
    Value Estimations
    $10,025,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1011666
    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

    • Manufacturing properties

    Property Details for 635 Erie Ave

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.42 lot acres
    Property size
    146,450 SF
    Zone code
    I2
    Property type
    Manufacturing properties
    APN
    88-4-0495-00
    APU
    884049500

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,321,000
      Market price range: $5.41M - $14.9M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $9,545,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1157
    Latitude
    40.0071
    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
    $41,512
    $752,720
    $2,212,880
    $2,965,600
    -
    $752,720
    $2,212,880
    $2,965,600

    Comparable in this City

    • Value Estimation
      $2,515,000
      113,720 SF

      1856 Ontario St

      FACTORY (MANUFACTURING) • 113,720 SF
      1856 Ontario St, Philadelphia, PA 19134
      View Details
    • Value Estimation
      $1,560,000
      57,417 SF

      3227 B St, Unit 59

      FACTORY (MANUFACTURING) • 57,417 SF
      3227 B St, Philadelphia, PA 19134-2201
      View Details
    • Value Estimation
      $6,425,000
      114,886 SF

      2100 Willard St

      FACTORY (MANUFACTURING) • 114,886 SF
      2100 Willard St, Philadelphia, PA 19134
      View Details
    • Value Estimation by Request
      2,916 SF

      2018 Willard St, Unit 22

      FACTORY (MANUFACTURING) • 2,916 SF
      2018 Willard St, Philadelphia, PA 19134-3231
      View Details
    • Value Estimation
      $2,300,000
      36,900 SF

      3030 Castor Ave

      FOUNDRY, INDUSTRIAL PLANT • 36,900 SF
      3030 Castor Ave, Philadelphia, PA 19134
      View Details
    • Value Estimation
      $925,000
      35,710 SF

      3136 B St, Unit 50

      FACTORY (MANUFACTURING) • 35,710 SF
      3136 B St, Philadelphia, PA 19134-2233
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      67,500 SF

      67,500 SF Philadelphia Industrial Building

      Five-story industrial building with freight elevator and dock doors.
      2916 Weikel St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      8,024 SF

      Port Richmond Industrial Building For Sale

      8,000 SF industrial building in Port Richmond neighborhood.
      3101 E Ontario St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      9,240 SF

      Philadelphia Warehouse: 9,240 SF

      Prime Philadelphia industrial warehouse, ideal for various uses.
      2832-34 Pacific St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      83,376 SF

      Philadelphia Industrial Property with Drive-Ins

      Industrial property in Philadelphia featuring multiple drive-in entrances.
      2848 Chatham St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      25,020 SF

      Multi-Tenant Industrial Building For Sale

      Multi-tenant industrial building with lofted office space and high ceilings.
      3001 Ormes St, Philadelphia, PA 19134
      View Details
    • $1,265,000
      13,500 SF

      Port Richmond Artist Studio Building

      Two-story artist studio building with professional artist studios/office space.
      3130-34 Belgrade St, Philadelphia, PA 19134
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      190,000 SF

      Port Richmond Industrial Warehouse Space

      190,000 SF warehouse with convenient access to transportation.
      2200 E Ann St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      7,350 SF

      Industrial Warehouse Space Available

      7,350 SF warehouse space for rent in Philadelphia.
      3381 Richmond St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      6,500 SF

      Industrial Warehouse Space Available

      6,500 SF warehouse space for rent in Philadelphia.
      2930 E Ontario St, Philadelphia, PA 19134
      View Details
    • $1.26 SF/Yr
      11,000 SF

      Philadelphia Office Space for Lease

      Move-in ready, renovated office space.
      2030 Willard St, Philadelphia, PA 19134
      View Details
    • Contact for pricing
      190,911 SF

      Industrial Warehouse Space Available

      Large industrial space with loading docks and drive-in door.
      2235 Castor Ave, Philadelphia, PA 19134
      View Details
    • $7 SF/Yr
      16,000 SF

      Industrial Warehouse with Office Space

      16,000 SF industrial warehouse with office in Kensington.
      2844 Frankford Ave, Philadelphia, PA 19134
      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.
    635 Erie Ave, Unit 53
    Philadelphia, PA 19134-1208
    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.