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    The Largest CRE Database in the US with Over 1 Million Listings

    1006-8 W Lehigh Ave Philadelphia, PA 19133

    Sponsored
    For Sale
    $829,000

    Commercial Sale - PHILADELPHIA, PA

    Type:Retail
    Lot size:
    0.13 Acres
    Days on Market:
    104
    Last Refresh:
    Feb 5 at 6:06 pm

    Property Features for 1006-8 W Lehigh Ave

    General Information

    Property type
    Other
    Property subtype
    Retail
    Standard status
    Active
    Parking
    7
    Parking features
    On Street, Parking Lot
    Lot size
    0.13 Acres

    Utilities

    Heating system
    Hot Water(Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1915
    Number of units
    4
    Building materials
    Masonry

    We can help!

    Listing Contact
    Michael Bottaro

    HomeStarr Realty (215) 355-5565

    Listing agent Michael Bottaro (215) 355-5565 License #AB067983

    Listing date Oct 25, 2025

    MLS# PAPH2535834

    Copyright © 2025 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Philadelphia Commercial Property For Sale

    Located in a high-traffic area of Philadelphia, the property at 1006-8 Lehigh Ave offers 5700 sq ft of commercial space. The building, originally constructed around 1915, served as the Lehigh Branch of the Philadelphia Savings Fund Society (PSFS), with a design attributed to Horace Trumbauer. The property, zoned CMX-2, presents a commercial multi-tenant opportunity within this historic former bank building at the intersection of W. Lehigh and Germantown Avenues. It is situated near the Broad Street Line's North Philadelphia Station and Temple University's main campus, and includes 7 parking spots in a lot behind the building. The first floor is built out as an operational pharmacy, featuring a grand lobby, managerial office, storage room, employee break room, changing room, additional retail and pharmaceutical space, as well as a doctor's office with a waiting room and vaccination room. The second floor, formerly an executive suite, includes floor-to-ceiling windows, high ceilings, and three office spaces in the rear. The building retains its character with large Greek pillars and original mahogany-colored hardwood and marble-tiled flooring. The property was last used as a large retail pharmacy "Lehigh Pharmacy". The location benefits from high vehicle and foot traffic, offering the potential to sublease space to offset operational costs with supplemental income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Genoa Healthcare, Apollo Pharmacy, Rite Aid Pharmacy, Eyelash growth serum Shop, WinkNdMink

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.14832306
    Latitude
    39.99288559

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    FAQs

    What type of property is this?
    Drug store - Former bank building with retail and office space in Philadelphia.
    Where is this drug store located?
    The property is located at 1006-8 W Lehigh Ave Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $829,000.
    What are key features of this property?
    This property features: - High-traffic location with CMX-2 zoning, offering commercial multi-tenant opportunities and potential for supplemental income through subleasing.; - Large 5700 sq ft building with existing operational pharmacy build-out, including retail space, offices, and storage.; - Historic building with architectural significance, formerly a branch of PSFS designed by prominent architects.
    (267) 307-2444
    Request Owner's contact information
    1006-8 W Lehigh Ave Philadelphia, PA 19133
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    Philadelphia, PA 19133
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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
    1006-8 W Lehigh Ave Philadelphia, PA 19133
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    We can help!
    Listing Contact
    Michael Bottaro
    Real Estate License ID: AB067983
    (267) 307-2444
    Learn more
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