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

    908 3rd St, Unit 14 Philadelphia, PA 19123-2206

    • Office buildings
    • 4,000 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1812488
    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

    • Menagerie Coffee / Coffee Shop
    • YahCare / Home Health Care Service

    Property Details for 908 3rd St

    Year built
    1924
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.10 lot acres
    Property size
    4,000 SF
    Zone code
    RSA5
    Property type
    Office buildings
    APN
    88-3-5255-10
    APU
    883525510

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $935,000
      6.5%
      $865,000
      7%
      $800,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $858,000
      Market price range: $283k - $884k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,020,000
      Current use
      MEDICAL BUILDING
      $980,000
      Change: -3% Conversion: Easy
      COMMERCIAL (GENERAL)
      $875,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1435
    Latitude
    39.9658
    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
    $11,424
    $163,220
    $652,880
    $816,100
    -
    $163,220
    $652,880
    $816,100

    Comparable in this City

    • Value Estimation
      $840,000
      7,908 SF

      704 Girard Ave, Unit 6

      OFFICE BUILDING • 7,908 SF
      704 Girard Ave, Philadelphia, PA 19123-1313
      View Details
    • Value Estimation
      $11,340,000
      56,592 SF

      701 Broad St, Unit 15

      OFFICE BUILDING • 56,592 SF
      701 Broad St, Philadelphia, PA 19123-2402
      View Details
    • Value Estimation
      $3,335,000
      16,643 SF

      428 American St

      OFFICE BUILDING • 16,643 SF
      428 American St, Philadelphia, PA 19123-4200
      View Details
    • Value Estimation
      $1,465,000
      7,686 SF

      219 Spg Gdn St, Unit 27

      OFFICE BUILDING • 7,686 SF
      219 Spg Gdn St, Philadelphia, PA 19123-2925
      View Details
    • Value Estimation
      $1,895,000
      15,399 SF

      1028 3rd St, Unit 34

      OFFICE BUILDING • 15,399 SF
      1028 3rd St, Philadelphia, PA 19123-1532
      View Details
    • Value Estimation
      $3,035,000
      24,450 SF

      424 6th St, Unit 42

      OFFICE BUILDING • 24,450 SF
      424 6th St, Philadelphia, PA 19123-4002
      View Details

    Similar Nearby for Sale

    • $549,000
      2,196 SF

      Mixed-Use Property in Northern Liberties

      Cash-flowing mixed-use asset in a prime Philadelphia location.
      331 W Girard Ave, Philadelphia, PA 19123
      View Details
    • Contact for pricing
      17,950 SF

      Spring Garden Street Retail Space

      High-traffic retail storefront, excellent location.
      827 Spring Garden St, Philadelphia, PA 19123
      View Details
    • $779,000
      3,252 SF

      Mixed-Use Property on Spring Garden

      Three-story mixed-use building with retail and residential units.
      937 Spring Garden St, Philadelphia, PA 19123
      View Details
    • $625,000
      1,998 SF

      Updated Philadelphia Home with Parking

      Move-in ready 4-bedroom home with off-street parking and modern updates.
      1202 Mount Vernon St, Philadelphia, PA 19123
      View Details
    • Contact for pricing

      Northern Liberties Retail Opportunities

      Retail spaces available in a new Northern Liberties development.
      700 Delaware Ave, Philadelphia, PA 19123
      View Details
    • $779,000
      2,836 SF

      Mixed-Use Property on Spring Garden

      Versatile mixed-use property with commercial space and residential unit.
      923 Spring Garden St, Philadelphia, PA 19123
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      4,280 SF

      Renovated Loft Office Building

      Four-story, 80,000 SF renovated loft office building for rent.
      441 N 5Th St, Philadelphia, PA 19123
      View Details
    • $22 SF/Yr
      42,085 SF

      Historic Northern Liberties Office Space

      Boutique Office Building, 3 Suites Available
      461 3Rd St, Philadelphia, PA 19123
      View Details
    • $26 SF/Yr
      14,111 SF

      Creative Office Space, Northern Liberties

      Historic Charm, Modern Amenities, Prime Location
      1100 Front St, Philadelphia, PA 19123
      View Details
    • $21 SF/Yr
      6,183 SF

      Prime Philadelphia Office Space

      6,183 SF Executive/Creative Office
      448 10Th St, Philadelphia, PA 19123
      View Details
    • Contact for pricing
      3,385 SF

      New Construction Retail/Office Space

      New construction commercial space in emerging Spring Arts neighborhood.
      741 Spring Garden St, Philadelphia, PA 19123
      View Details
    • Contact for pricing
      188,000 SF

      Riverview Place Office Space Available

      Prime Philadelphia Office, 15,145 SF Available
      520 Christopher Columbus Blvd, Philadelphia, PA 19123
      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.
    908 3rd St, Unit 14
    Philadelphia, PA 19123-2206
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.