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

    7385 Melrose St, Unit 87 Philadelphia, PA 19136-4208

    • Retail space
    • 1,036 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0661391
    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

    • Cottman Check Cashing / Check Cashing
    • Hip Hemp Cafe Express / Cafe & Coffee Shop

    Property Details for 7385 Melrose St

    Year built
    2014
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.38 lot acres
    Property size
    1,036 SF
    Zone code
    I2
    Property type
    Retail space
    APN
    88-2-7462-05
    APU
    882746205

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.0285
    Latitude
    40.0265
    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
    $5,834
    $291,736
    $125,064
    $416,800
    -
    $291,736
    $125,064
    $416,800

    Comparable in this City

    • Value Estimation
      $605,000
      6,070 SF

      8109 Frankford Ave

      STORE, RETAIL OUTLET • 6,070 SF
      8109 Frankford Ave, Philadelphia, PA 19136-2737
      View Details
    • Value Estimation
      $2,175,000
      10,125 SF

      8525 Frankford Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,125 SF
      8525 Frankford Ave, Philadelphia, PA 19136-2444
      View Details
    • Value Estimation by Request
      1,192 SF

      7335 Frankford Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,192 SF
      7335 Frankford Ave, Philadelphia, PA 19136-3929
      View Details
    • Value Estimation by Request
      1,385 SF

      2903 Holme Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,385 SF
      2903 Holme Ave, Philadelphia, PA 19136-1009
      View Details
    • Value Estimation by Request
      1,341 SF

      3148 Willits Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,341 SF
      3148 Willits Rd, Philadelphia, PA 19136-1116
      View Details
    • Value Estimation
      $880,000
      6,000 SF

      7436 Torresdale Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      7436 Torresdale Ave, Philadelphia, PA 19136-4117
      View Details

    Similar Nearby for Sale

    • $849,900
      8,412 SF

      Mixed-Use Corner Property in Mayfair

      Highly visible commercial mixed-use property in a densely populated area.
      4624 Rhawn St, Philadelphia, PA 19136
      View Details
    • $4,800,000
      10,125 SF

      Philadelphia Retail Investment Opportunity

      Retail property with over 12 years remaining on primary lease.
      8525 Frankford Ave, Philadelphia, PA 19136
      View Details
    • $450,000
      0.07 Acres

      Retail/Medical Property in Philadelphia

      Commercial property suitable for retail, medical, or professional office.
      3150 Willits Rd, Philadelphia, PA 19136
      View Details
    • $989,000
      5,000 SF

      Corner Retail Building on Frankford

      Retail building for sale or lease in thriving commercial corridor.
      7416 Frankford Ave, Philadelphia, PA 19136
      View Details
    • $795,000
      7,600 SF

      Frankford Avenue Retail Building

      7,600 SF two-story building on Frankford Avenue for sale.
      7937-7939 Frankford Ave, Philadelphia, PA 19136
      View Details
    • Contact for pricing
      3,340 SF

      Classic Diner For Sale

      Classic 24/7 diner with retro atmosphere, Philadelphia's favorite since 1932.
      7373 Frankford Ave, Philadelphia, PA 19136
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo
      3,485 SF

      Mayfair Fitness Investment Opportunity

      Turnkey fitness center with real estate in Philadelphia's Mayfair.
      7416 Frankford Ave, Philadelphia, PA 19136
      View Details
    • $649,900
      11,761 SF

      Frankford Avenue Commercial Space

      Over 6,000 sq ft commercial space on Frankford Avenue.
      8109 Frankford Ave, Philadelphia, PA 19136
      View Details
    • Contact for pricing
      82,345 SF

      Retail Space For Lease

      82,345 SF retail space available, near I-95.
      8812 Frankford Ave, Philadelphia, PA 19136
      View Details
    • $15 SF/Yr
      69,510 SF

      Shelly Plaza Shopping Center

      Philadelphia Retail Investment Opportunity
      8914 Frankford Ave, Philadelphia, PA 19136
      View Details
    • Contact for pricing

      30-Acre Philadelphia Industrial Land

      Prime Philadelphia industrial land for lease.
      7777-R State Rd, Philadelphia, PA 19136
      View Details
    • Contact for pricing
      14,500 SF

      Industrial Space in Tacony Philadelphia

      Industrial space for lease in Philadelphia's Tacony neighborhood.
      7336 State Rd, Philadelphia, PA 19136
      View Details

    Property Visit Statistics

    • Visits by month
      8.6k
    • Visitors by month
      8.6k
    • Avg Time on site
      7 min
    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.
    7385 Melrose St, Unit 87
    Philadelphia, PA 19136-4208
    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.