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

    924 Levick St, Unit 28 Philadelphia, PA 19111-5422

    • Retail space
    • 3,075 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Jun 29, 2023
    $775,000
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    5.5%
    Retail space
    Location Intelligence
    Property ID
    US73-2609140
    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

    • Al-Salam Grill / Middle Eastern Restaurant
    • Elegant Door & Window Gallery / Window Installation Service / Door Supplier

    Property Details for 924 Levick St

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    3,075 SF
    Zone code
    CMX1
    Property type
    Retail space
    APN
    88-2-0675-72
    APU
    882067572

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $705,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $600,000
      6.5%
      $555,000
      7%
      $515,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $507,000
      Market price range: $267k - $854k
      AI Estimate
      $437,000
      Market price range: $162k - $676k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $525,000
      Current use
      OFFICE BUILDING
      $780,000
      Change: +48% Conversion: Easy
      MEDICAL BUILDING
      $755,000
      Change: +43% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $570,000
      Change: +8% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $485,000
      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
    -75.0858
    Latitude
    40.0438
    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
    $4,645
    $66,350
    $265,450
    $331,800
    -
    $66,350
    $265,450
    $331,800

    Comparable in this City

    • Value Estimation
      $2,985,000
      13,201 SF

      1301 Rhawn St

      RETAIL STORES (PERSONAL SERVICES) • 13,201 SF
      1301 Rhawn St, Philadelphia, PA 19111-2801
      View Details
    • Value Estimation
      $785,000
      5,286 SF

      7136 Rising Sun Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,286 SF
      7136 Rising Sun Ave, Philadelphia, PA 19111-3957
      View Details
    • Value Estimation by Request
      1,645 SF

      7257 Rising Sun Ave, Unit 61

      RETAIL STORES (PERSONAL SERVICES) • 1,645 SF
      7257 Rising Sun Ave, Philadelphia, PA 19111-3926
      View Details
    • Value Estimation
      $1,700,000
      7,526 SF

      7941 Oxford Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,526 SF
      7941 Oxford Ave, Philadelphia, PA 19111-2224
      View Details
    • Value Estimation
      $2,565,000
      11,348 SF

      7400 Oxford Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,348 SF
      7400 Oxford Ave, Philadelphia, PA 19111
      View Details
    • Value Estimation by Request
      3,240 SF

      7946 Oxford Ave, Unit 48

      RETAIL STORES (PERSONAL SERVICES) • 3,240 SF
      7946 Oxford Ave, Philadelphia, PA 19111-2225
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.10 Acres

      Rising Sun Avenue Commercial Space

      Prime Philadelphia location with flexible layout and high visibility.
      6724 Rising Sun Ave, Philadelphia, PA 19111
      View Details
    • $2,800,000
      11,629 SF

      Rising Sun Avenue Investment Opportunity

      Commercial property with tenants, parking, and potential for various uses.
      6410-28 Palmetto St, Philadelphia, PA 19111
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    • $125,000

      Turnkey Restaurant Opportunity in Philadelphia

      Fully equipped restaurant with high sales volume and take-out business.
      1940 Cottman Ave, Philadelphia, PA 19111
      View Details
    • Contact for pricing
      700 SF

      Retail Space in Grocery-Anchored Center

      Retail spaces available in a busy Philadelphia shopping center.
      6301 Oxford Ave, Philadelphia, PA 19111
      View Details
    • $410,000
      1,320 SF

      Legal Duplex with Garage/Office Space

      Legal duplex with a two-car garage and office space.
      7352 Dungan Rd, Philadelphia, PA 19111
      View Details
    • $335,000
      2,000 SF

      Day Care Center Opportunity

      Well-kept building operating as a learning day care center.
      6412 Rising Sun Ave, Philadelphia, PA 19111
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,970 SF

      Retail Space in Philadelphia Hub

      Commercial space in a high-traffic Philadelphia retail hub.
      2327-2339 Cottman Ave, Philadelphia, PA 19111
      View Details
    • Contact for pricing
      8,892 SF

      Retail Space in Philadelphia Available

      Retail property with high traffic and pylon signage available.
      919 Levick St, Philadelphia, PA 19111
      View Details
    • $16 SF/Yr
      7,000 SF

      Retail Space in Fox Chase

      Retail space available in Philadelphia's Fox Chase neighborhood.
      451 Rhawn St, Philadelphia, PA 19111
      View Details
    • Contact for pricing
      5,280 SF

      Retail Center in Northeast Philadelphia

      Retail center with dense demographics and abundant parking.
      2100 Bleigh Ave, Philadelphia, PA 19111
      View Details
    • Contact for pricing
      93,040 SF

      Lawndale Plaza Retail Space Available

      Philadelphia Retail Strip Center, Multiple Units
      6301 Oxford Ave, Philadelphia, PA 19111
      View Details
    • Contact for pricing
      74,000 SF

      Office, Showroom, Warehouse Space Available

      Renovated 35,000± SF space for office, showroom, and warehouse.
      7746 Dungan Rd, Philadelphia, PA 19111
      View Details
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    924 Levick St, Unit 28
    Philadelphia, PA 19111-5422
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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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