Renovated Mixed-Use
For Sale
$1,245,000
1018 W LEHIGH AVENUE, Philadelphia, PA 19133
Two occupied retail spaces are positioned below renovated residential quarters.
Property Size8,500 SF
Price / SF$146.47
Days on Market23
Property Features for 1018 W LEHIGH AVENUE
General Information
Standard status
Active
Size
8,500 SF
Property subtype
MixedUse
Taxes and HOA fees
Annual Taxes
$7,140
Building Details
Building Size
8,500 SF
Year Built
1961
Buildings
1
Tenancy
Multi
Listing Agency:
Opus Elite Real Estate
Listed By:
Lisa Konopka · License #RS377205
(215) 200-6711
Source:
Patmckennarealtors
Added: Aug 12
Changed: Aug 27
Last Checked: Sep 2 at 2:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Opus Elite Real Estate
Investment Insights
Based on property information with market context.
This 8,500-square-foot mixed-use building combines two occupied retail storefronts with renovated residential space on the upper level. The residential area is currently configured as one large unit, with the source information identifying the possibility of conversion into two units. The property was built in 1961 and has since undergone a full renovation.
Situated near Temple University and Broad Street in Philadelphia, the building offers an established retail component alongside residential accommodations within the same structure.
Situated near Temple University and Broad Street in Philadelphia, the building offers an established retail component alongside residential accommodations within the same structure.
Key Highlights
- Approximately 8,500 SF mixed‑use building
- Two occupied retail storefronts
- Renovated residential space above the retail component
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
$100,980
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
8.11%
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%
$2,019,600
$2.0M
Cap Rate 7%
$1,442,571
$1.4M
Cap Rate 9%
$1,122,000
$1.1M
Market Conditions
NOI Build-Up for 8,500 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
$183.6K $21.60/SF
− Vacancy
−$22.0K −$2.59/SF
EGI
$161.6K $19.01/SF
− OpEx
−$60.6K −$7.13/SF
NOI
$101.0K $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%
$2,019,600
Cap Rate 7%
$1,442,571
Cap Rate 9%
$1,122,000
Alternative Uses
Best Use
Apartment 5plus
$1.91M
$1.67M – $2.23M
NOI $133,701 @ 7.0% cap · market cap 10.74%
Second Best
Mixed Use
$1.44M
$1.26M – $1.68M
NOI $100,980 @ 7.0% cap · market cap 8.11%
Theoretical Best
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $145,052 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,103
Businesses Nearby
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two occupied retail spaces are positioned below renovated residential quarters.
Where is this mixed-use property located?
The property is located at 1018 W LEHIGH AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Approximately 8,500 SF mixed‑use building; Two occupied retail storefronts; Renovated residential space above the retail component
