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    Fishtown Loft Condominium Opportunity Title is generated by Realmo AI

    2135 E SUSQUEHANNA AVENUE #13 UNITS 1A-2G, Philadelphia, PA 19125

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    For Sale
    $3,900,000

    CommercialSale - PHILADELPHIA, PA

    Property size:
    15,750 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $247/SF
    Added:
    Mar 2, 2026
    Days on Market:
    97
    Last Refresh:
    Jun 7 at 6:06 pm

    Property Features for 2135 E SUSQUEHANNA AVENUE #13 UNITS 1A-2G

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    15,750 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Annual Amount
    51156

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Number of units
    13
    Flooring type
    Concrete, Wood
    Roof type
    Built-Up
    Architectural style
    Other

    We can help!

    Listing Contact
    Paula L. Seitchik

    Listing agent Paula L. Seitchik

    Listing office BHHS Fox & Roach Chestnut Hill 8400 Germantown Avenue, PA

    Listing date Mar 2, 2026

    MLS# PAPH2588978 Listing URL

    Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare urban oasis with a large open courtyard for gatherings, events, and gardening.
    • Value‑add business opportunity with multiple options.
    • Unbeatable location steps from the Market, Frankford EL, shops, restaurants, and entertainment in Fishtown.
    • Thirteen open concept loft condominium units ranging from 880 to 1584 sq ft.
    • Preserved architectural details: exposed beams, clerestory windows, and authentic carriage house doors.
    • Separate utilities, interior sprinkler system, hard wired smoke detection, and monitored integral alarm system.

    Overview

    This property, developed as 13 open concept loft condominium units and maintained as rental units, presents a value-add business opportunity. It offers a large open courtyard used for gatherings, events, and gardening by the tenants. The units range in size from 880 to 1584 square feet, with several fronting on the courtyard. All units feature preserved architectural details including exposed beams, clerestory windows, and authentic carriage house doors. Each unit has separate utilities, an interior sprinkler system, hard wired smoke detection, and a monitored integral alarm system. The 0.26-acre property can continue as rentals, be sold off as individual units, or be further developed. The property is located steps from the Market, Frankford EL, and the shops, restaurants and entertainment venues of Fishtown in Philadelphia, PA.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $478.2k $30.36
    − Vacancy −$27.7k −$1.76
    EGI $450.4k $28.60
    − OpEx −$202.7k −$12.87
    NOI $247.7k $15.73
    15,750 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $3.54M
    $3.10M – $4.13M (±1% cap)
    NOI $247,740 @ 7.0% cap · market cap 6.35%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $3.84M
    $3.36M – $4.48M (±1% cap)
    NOI $268,772 @ 7.0% cap · market cap 6.89%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.12996
    Latitude
    39.98039

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    FAQs

    What type of property is this?
    Apartment building - Unique investment property near Market-Frankford EL in Philadelphia.
    Where is this apartment building located?
    The property is located at 2135 E SUSQUEHANNA AVENUE #13 UNITS 1A-2G Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: Rare urban oasis with a **large open courtyard** for gatherings, events, and gardening.; Value‑add business opportunity with multiple options.; **Unbeatable location** steps from the Market, Frankford EL, shops, restaurants, and entertainment in Fishtown.
    (215) 740-2921
    We can help!
    Listing Contact
    Paula L. Seitchik
    Learn More
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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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