Historic Drug Store
For Sale
$829,000
1006-8 W LEHIGH Avenue, Philadelphia, PA 19133
Commercial Sale, PHILADELPHIA, PA
Property Size5,700 SF
Lot Size0.13 Acres
Price / SF$145.44
Days on Market369
Property Features for 1006-8 W LEHIGH Avenue
General Information
Property type
Other
Property subtype
Retail
Parking
7
Parking features
Parking Lot, On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
4777
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Building Details
Year built
1915
Number of units
4
Building materials
Masonry
Listing Agency:
Homestarr Realty
(215) 355-5565
Listed By:
Michael Bottaro · License #AB067983
(267) 307-2444
Added: Sep 9, 2025
Changed: Sep 2
Last Checked: Sep 12 at 3:06AM
MLS# PAPH2535834
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 5,700-square-foot masonry commercial property occupies a 0.1287-acre site and was originally constructed in 1915. The first floor includes a pharmacy layout with a managerial office, storage room, employee break room, changing room, retail and pharmaceutical areas, and a large lobby. A separate portion contains a doctor's office, waiting room, and vaccination room. The upper level features a former executive suite with floor-to-ceiling windows and high ceilings, along with three rear office spaces.
The property is positioned at the intersection of W. Lehigh and Germantown Avenues, near the Broad Street Line's North Philadelphia Station and Temple University's main campus. Seven parking spaces are located in a rear lot, with additional on-street parking available. CMX-2 zoning, central air, and hot water heating support the building's existing commercial configuration. Architectural details include large Greek pillars, original mahogany-colored hardwood flooring, and marble tile.
The property is positioned at the intersection of W. Lehigh and Germantown Avenues, near the Broad Street Line's North Philadelphia Station and Temple University's main campus. Seven parking spaces are located in a rear lot, with additional on-street parking available. CMX-2 zoning, central air, and hot water heating support the building's existing commercial configuration. Architectural details include large Greek pillars, original mahogany-colored hardwood flooring, and marble tile.
Key Highlights
- 5,700‑square‑foot masonry commercial building on 0.1287 acres
- CMX‑2 zoning with two‑level commercial configuration
- First‑floor pharmacy buildout with office, storage, break room, and retail areas
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
$75,009
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
9.05%
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%
$1,500,180
$1.5M
Cap Rate 7%
$1,071,557
$1.1M
Cap Rate 9%
$833,433
$833.4K
Market Conditions
NOI Build-Up for 5,700 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
$125.2K $21.96/SF
− Vacancy
−$25.2K −$4.41/SF
EGI
$100.0K $17.55/SF
− OpEx
−$25.0K −$4.39/SF
NOI
$75.0K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,500,180
Cap Rate 7%
$1,071,557
Cap Rate 9%
$833,433
Alternative Uses
Best Use
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,593 @ 7.0% cap · market cap 9.96%
Second Best
Office B
$1.07M
$937.6K – $1.25M
NOI $75,009 @ 7.0% cap · market cap 9.05%
Theoretical Best
Multifamily LT 5
$1.39M
$1.22M – $1.62M
NOI $97,270 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,103
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 19133, PA
24,772
Population
10,766
Households
2.3
Avg Household Size
34
Median Age
7%
College-Educated
63%
High-School Grad
1.3 sq mi
ZIP Area
19,055
Density / Sq Mi
$31,756
Median Household Income
$26,563
Median Earnings
$919
Median Rent
$85,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Philadelphia, PA
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Similar Off Market Nearby
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- Genoa Healthcare — 2600 N American St, Philadelphia, PA 19133
- Eyelash growth serum Shop — 1013 W Huntingdon St, Philadelphia, PA 19133
- WinkNdMink — 2519 Germantown Ave, Philadelphia, PA 19133
- Apollo Pharmacy — 460 W Lehigh Ave, Philadelphia, PA 19133
Frequently Asked Questions
What type of property is this?
Drug store - Masonry commercial property with pharmacy, medical office, executive suite, and rear offices across two levels.
Where is this drug store located?
The property is located at 1006-8 W LEHIGH Avenue 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: 5,700‑square‑foot masonry commercial building on 0.1287 acres; CMX‑2 zoning with two‑level commercial configuration; First‑floor pharmacy buildout with office, storage, break room, and retail areas
