Philadelphia Commercial Building on
4022-24 LANCASTER Avenue Philadelphia, PA 19104
4022-24 LANCASTER Avenue, Philadelphia, PA, 19104
$1,250,000
For Sale
$1,250,000
Commercial Sale - PHILADELPHIA, PA
Property Size6,200 SF
Lot Size0.12 Acres
Price / SF$201.61
Days on Market124
Property Features for 4022-24 LANCASTER Avenue
General Information
- Property type
- Other
- Property subtype
- Retail
- Parking features
- On Street
- Standard status
- Active
- Size
- 6,200 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2914
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1915
- Number of units
- 4
- Building materials
- Masonry
Listing Agency
Keller Williams Main Line
(610) 520-0100
6 Coulter Avenue unit: 2, Ardmore, PA
Listed by
Jon M O'Shea · License #ab069634
(267) 780-3419
Added: Mar 19 Updated: Jun 9 at 11:41 am Checked: Jul 20 at 8:06 pm
MLS# PAPH2588356
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 multi-use commercial building is located on Lancaster Avenue in West Philadelphia. The property features 6,200 square feet of ground-floor commercial space and a full basement. Additionally, there is a 1,000 square foot second-floor office space. The building has 40 feet of frontage on Lancaster Avenue at 42nd Street. It is located in a walkable and transit-rich West Philadelphia submarket with strong development momentum. The property is zoned CMX-2, which allows for broad permitted commercial uses. The property has a history of diverse commercial uses, including a full-service grocery market, restaurant, and nightclub lounge. SEPTA Route 10 trolley is on-site.
Key Highlights
- High‑visibility corner location on Lancaster Avenue and 42nd Street.
- 6,200 SF ground‑floor commercial space with a full basement.
- CMX‑2 zoning allows for broad commercial uses.
Local Financial Insights For Retail
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 | $111.6k | $18.00 |
| − Vacancy | −$11.5k | −$1.85 |
| EGI | $100.1k | $16.15 |
| − OpEx | −$30.0k | −$4.84 |
| NOI | $70.1k | $11.30 |
6,200 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.00M
$875.9K – $1.17M
NOI $70,074 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,802 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - High-visibility commercial building with diverse use history in West Philadelphia.
Where is this retail space located?
The property is located at 4022-24 LANCASTER Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High‑visibility corner location on Lancaster Avenue and 42nd Street.; 6,200 SF ground‑floor commercial space with a full basement.; CMX‑2 zoning allows for broad commercial uses.
