Prime CMX-4 Corner Development
For Sale
$850,000
1200-2 W GIRARD Avenue, Philadelphia, PA 19123
LAND - PHILADELPHIA, PA
Property Size2,103 SF
Lot Size0.08 Acres
Price / SF$404.18
Days on Market144
Property Features for 1200-2 W GIRARD Avenue
General Information
Property type
Land
Property subtype
Other
Subdivision
PHILADELPHIA
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
2,103 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
6948
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
nabila baba alaoui-jackson · License #RS344492
(215) 936-9386
Added: Mar 23
Changed: Jun 9
Last Checked: Aug 13 at 12:06AM
MLS# PAPH2598226
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This corner lot, zoned CMX-4, is located along West Girard Avenue in Philadelphia. It is suitable for high-density mixed-use development. The property has existing approvals for development, including plans for one commercial space of 2,103 square feet, 21 units, and 5 parking spaces. These plans may be modified. The corner location provides dual frontage, natural light, and design options suitable for ground-floor commercial space with residential units above. The site offers visibility and accessibility. It is located near public transportation, major roadways, and neighborhood amenities. The property is situated in a high-demand, rapidly developing area. The lot size is 0.0826 acres.
Key Highlights
- Approved for development with plans including 1 commercial space (2,103 SF), 21 units, and 5 parking spaces, offering a significant head start.
- CMX‑4 zoning allows for high‑density mixed‑use development by right with no strict unit cap and potential density bonuses.
- Prime corner location on West Girard Avenue** provides dual frontage, excellent natural light, and flexible design options.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,984
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$499,680
$499.7K
Cap Rate 7%
$356,914
$356.9K
Cap Rate 9%
$277,600
$277.6K
Market Conditions
NOI Build-Up for 2,103 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.4K $21.60/SF
− Vacancy
−$5.5K −$2.59/SF
EGI
$40.0K $19.01/SF
− OpEx
−$15.0K −$7.13/SF
NOI
$25.0K $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$499,680
Cap Rate 7%
$356,914
Cap Rate 9%
$277,600
Alternative Uses
Best Use
Mixed Use
$356.9K
$312.3K – $416.4K
NOI $24,984 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$512.7K
$448.6K – $598.1K
NOI $35,887 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21
Residential units
Location Intelligence
Trade Area within ½ mile
2,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Corner lot in Philadelphia, approved for mixed-use development.
Where is this commercial land located?
The property is located at 1200-2 W GIRARD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Approved for development with plans including **1 commercial space (2,103 SF), 21 units, and 5 parking spaces**, offering a significant head start.; CMX‑4 zoning allows for high‑density mixed‑use development by right with no strict unit cap and potential density bonuses.; Prime corner location on West Girard Avenue** provides dual frontage, excellent natural light, and flexible design options.
