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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6975 Norwitch Dr Philadelphia, PA 19153-3405

    • Retail space
    • 3,285 SF
    • 1.17 lot acres
    OFF-MARKET
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2264092
    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

    • Payless Car Rental / Car Rental Agency
    • Payless Airport Valet Parking / Parking Lot
    • 1st Car Rental / Car Rental Agency

    Property Details for 6975 Norwitch Dr

    Year built
    2013
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.17 lot acres
    Property size
    3,285 SF
    Zone code
    I2
    Property type
    Retail space
    APN
    88-2-0663-90
    APU
    882066390

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $620,000
      6.5%
      $570,000
      7%
      $530,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $642,000
      Market price range: $171k - $642k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $565,000
      Current use
      OFFICE BUILDING
      $835,000
      Change: +48% Conversion: Easy
      MEDICAL BUILDING
      $805,000
      Change: +43% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $610,000
      Change: +8% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $520,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.2278
    Latitude
    39.9079
    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
    $25,696
    $1,284,970
    $550,730
    $1,835,700
    -
    $1,284,970
    $550,730
    $1,835,700

    Comparable in this City

    • Value Estimation
      $1,975,000
      11,200 SF

      2512 Is Ave, Unit 32

      RETAIL STORES (PERSONAL SERVICES) • 11,200 SF
      2512 Is Ave, Philadelphia, PA 19153-1417
      View Details
    • Value Estimation
      $530,000
      4,416 SF

      6301 Passyunk Ave, Unit 15

      RETAIL STORES (PERSONAL SERVICES) • 4,416 SF
      6301 Passyunk Ave, Philadelphia, PA 19153-3511
      View Details
    • Value Estimation by Request
      1,776 SF

      6208 Passyunk Ave, Unit B

      STORE, RETAIL OUTLET • 1,776 SF
      6208 Passyunk Ave, Philadelphia, PA 19153-3510
      View Details
    • Value Estimation
      $2,100,000
      12,000 SF

      3101 70th St

      RETAIL STORES (PERSONAL SERVICES) • 12,000 SF
      3101 70th St, Philadelphia, PA 19153
      View Details
    • Value Estimation by Request
      1,951 SF

      2545 Is Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,951 SF
      2545 Is Ave, Philadelphia, PA 19153-2226
      View Details
    • Value Estimation
      $1,315,000
      15,696 SF

      7421 Glenmore Ave

      RETAIL STORES (PERSONAL SERVICES) • 15,696 SF
      7421 Glenmore Ave, Philadelphia, PA 19153-1430
      View Details

    Similar Nearby for Sale

    • $349,900
      0.30 Acres

      Buildable Lots with Income Potential

      Three buildable lots with accessory garages in Philadelphia, PA.
      7627 Este Ave, Philadelphia, PA 19153
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    • $495,000

      Development Opportunity Near Bellwether District

      Land with permits for a 20-unit multi-family building.
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    • Contact for pricing

      2.53 Acres on Island Avenue

      2.53 acres of commercial land with 378' frontage.
      4521 Island Ave, Philadelphia, PA 19153
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    • $6,950,000
      43,800 SF

      Island Ave Executive Office Building

      Philadelphia Office Building - Value-Add Opportunity
      2821 Island Ave, Philadelphia, PA 19153
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      42,357 SF

      Penrose Park Retail Space Available

      Philadelphia Retail Shop: 3,019 SF Available
      7601 Lindbergh Blvd, Philadelphia, PA 19153
      View Details
    • Contact for pricing
      5,516 SF

      Retail Space with Ample Parking

      Highly visible retail space with flexible sizing and ample parking.
      7620 Lindbergh Blvd, Philadelphia, PA 19153
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    • Contact for pricing
      15,455 SF

      Retail Space Near I-95

      Retail space with high visibility and easy highway access.
      7601-7651 Lindbergh Blvd, Philadelphia, PA 19153
      View Details
    • Contact for pricing
      282,255 SF

      Industrial Land for Lease

      15.50 acres of I-2 zoned land available for lease.
      3060 S 61St St, Philadelphia, PA 19153
      View Details
    • Contact for pricing
      1 SF

      Prime Philadelphia Industrial Land

      4.04 Acres, I-95 & I-76 Access
      3061 61St St, Philadelphia, PA 19153
      View Details
    • Contact for pricing
      11,000 SF

      Philadelphia Industrial Warehouse For Sale

      11,000 SF Warehouse on 41 Acres
      6318 Passyunk Ave, Philadelphia, PA 19153
      View Details

    Property Visit Statistics

    • Visits by month
      933
    • Visitors by month
      492
    • Avg Time on site
      18 min
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    Philadelphia, PA 19153-3405
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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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