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

    704 Lafayette St, Unit 4 Kennett Square, PA 19348-3410

    • Apartment buildings
    • 37,596 SF
    • 1.30 lot acres
    OFF-MARKET
    Value Estimations
    $2,900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2551516
    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 704 Lafayette St

    Year built
    1965
    Lot size
    1.30 lot acres
    Property size
    37,596 SF
    Zone code
    R2A
    Property type
    Apartment buildings
    APN
    0304 02200000
    APU
    30402200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,440,000
      Market price range: $3.44M - $12.9M

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennett Square
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.7147
    Latitude
    39.8386
    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
    $49,995
    $109,490
    $916,510
    $1,026,000
    -
    $109,490
    $934,890
    $1,044,380

    Comparable in this City

    • Value Estimation
      $10,360,000
      66,824 SF

      601 Millers Hl, Unit 409

      APARTMENT HOUSE (5+ UNITS) • 66,824 SF
      601 Millers Hl, Kennett Square, PA 19348-2131
      View Details
    • Value Estimation
      $10,460,000
      68,166 SF

      1109 Baltimore Pike

      APARTMENT HOUSE (5+ UNITS) • 68,166 SF
      1109 Baltimore Pike, Kennett Square, PA 19348-2366
      View Details
    • Value Estimation
      $4,775,000
      45,885 SF

      300 Cedar Spgs Rd

      APARTMENT HOUSE (5+ UNITS) • 45,885 SF
      300 Cedar Spgs Rd, Kennett Square, PA 19348-2239
      View Details
    • Value Estimation
      $750,000
      5,890 SF

      1670 St Rd

      APARTMENT HOUSE (5+ UNITS) • 5,890 SF
      1670 St Rd, Kennett Square, PA 19348
      View Details
    • Value Estimation
      $3,160,000
      38,880 SF

      507 Ctr St, Unit 1

      APARTMENT HOUSE (5+ UNITS) • 38,880 SF
      507 Ctr St, Kennett Square, PA 19348-3255
      View Details
    • Value Estimation
      $6,060,000
      80,136 SF

      326 Juniper St, Unit C34

      APARTMENT HOUSE (5+ UNITS) • 80,136 SF
      326 Juniper St, Kennett Square, PA 19348-3807
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.82 Acres

      Kennett Square Commercial Land Opportunity

      Prime 2.82-acre site, versatile zoning.
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      2-acre land parcel zoned for diverse commercial uses.
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      Redevelopment Opportunity in Kennett Square

      0.42 acre signalized corner property zoned C-2.
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    • $1,900,000
      7,000 SF

      Restaurant Building with Liquor License

      Three-story commercial building with restaurant, office, and possible apartment.
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      7.02 acres to build your dream home.
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    Similar Nearby for Lease

    • $22 SF/Yr
      22,500 SF

      404 Mcfarlan Rd

      Medical offices • 22,500 SF
      404 Mcfarlan Rd, Kennett Square, PA 19348
      View Details
    • $14 SF/Yr
      10,454 SF

      Kennett Square Retail/Office/Warehouse Space

      Retail/office/warehouse space in the heart of Kennett Square Boro.
      109 Broad St S, Kennett Square, PA 19348
      View Details
    • Contact for pricing

      Kennett Square Commercial Land Opportunity

      2.82 Acres, Multi-Use Zoning
      718 Baltimore Ave, Kennett Square, PA 19348
      View Details
    • Contact for pricing
      9,800 SF

      Flex Warehouse Space Available

      Flex/warehouse space for lease with loading docks and drive-in-doors.
      210 Gale Ln, Kennett Square, PA 19348
      View Details
    • $975 /Mo
      600 SF

      Downtown Kennett Square Office Space

      600 SF office space in Kennett Square Borough.
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    • Contact for pricing
      1,188 SF

      Retail Space Near Longwood Gardens

      Retail space available near Longwood Gardens in Kennett Square.
      823-859 E Baltimore Pike, Kennett Square, PA 19348
      View Details
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    704 Lafayette St, Unit 4
    Kennett Square, PA 19348-3410
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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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