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    Mixed-Use Building With Commercial Space Title is generated by Realmo AI

    1824 RIDGE Avenue, Philadelphia, PA 19130

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    For Sale
    $948,000

    MULTI_FAMILY - Contemporary - PHILADELPHIA, PA

    Property size:
    5,100 SF
    Lot size:
    0.04 Acres
    Price / SF:
    $185/SF
    Added:
    Apr 29, 2026
    Days on Market:
    39
    Last Refresh:
    Jun 6 at 2:06 am

    Property Features for 1824 RIDGE Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    On Street
    Appliances
    Dishwasher, Disposal, Dryer - Electric, Microwave, Oven/Range - Electric, Refrigerator, Washer
    Standard status
    Active
    Size
    5,100 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4506

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2019
    Number of units
    4
    Building materials
    Block, Concrete, Combination
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Andrew F Cheng

    Listing agent Andrew F Cheng License #RS3263312

    Listing office Keller Williams Realty 409 Marlton Pike, Cherry Hill, PA

    Listing date Apr 29, 2026

    MLS# PAPH2614322 Listing URL

    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.

    HighLights

    • Fully occupied mixed‑use property built in 2019 with 4 total units on Philadelphia’s Ridge Avenue corridor
    • 3 residential units: 2 bedrooms and 2 full baths per unit with hardwood floors and in‑unit washer/dryer
    • Ground‑floor commercial space plus finished basement to diversify income, all within approximately 5,100 SF
    • Central HVAC and forced‑air heating throughout; appliances include dishwasher, disposal, microwave, electric oven/range, washer/dryer, and refrigerator
    • Top unit includes private roof access; backyard can be shared as community outdoor space with units 1 and 2
    • Zoned CMX 2.5 for flexible commercial and mixed‑use opportunities

    Overview

    Constructed approximately six years ago, this mixed-use building totals about 5,100 square feet and features four total units. Three residential apartments include two bedrooms and two full bathrooms, with hardwood flooring throughout, central HVAC, and in-unit washer/dryer. The top unit provides private roof access, while the backyard can be used as shared community space for Unit 1 and Unit 2. The ground-floor commercial space includes a finished basement, supporting a diversified mix within the building.

    The property is located along the Ridge Avenue corridor in Philadelphia, described as a highly trafficked area with public transportation access. The listing also notes proximity to Temple University and Center City.

    For tenants, the configuration supports a combined live/work style or multi-tenant occupancy model, with in-unit laundry and central heating and cooling serving the residential component. For buyers and investors, the building is presented as fully occupied at 100%, and the CMX 2.5 zoning designation provides flexibility for commercial and mixed-use opportunities within the existing asset layout.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.16662
    Latitude
    39.97208

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    FAQs

    What type of property is this?
    Mixed-use property - Fully occupied mixed-use building with three residential apartments and ground-floor commercial space.
    Where is this mixed-use property located?
    The property is located at 1824 RIDGE Avenue Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $948,000.
    What are key features of this property?
    This property features: Fully occupied mixed‑use property built in 2019 with 4 total units on Philadelphia’s Ridge Avenue corridor; 3 residential units: 2 bedrooms and 2 full baths per unit with hardwood floors and in‑unit washer/dryer; Ground‑floor commercial space plus finished basement to diversify income, all within approximately 5,100 SF
    (267) 506-7100
    We can help!
    Listing Contact
    Andrew F Cheng
    Real Estate License ID: RS3263312
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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.

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