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 Show Phone

Source: Patmckennarealtors

Added: Aug 12 Changed: Oct 13 Last Checked: Oct 16 at 5:43PM

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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.

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 / Yr

$100,980

Cap Rate

8.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,019,600 $2.0M

Cap Rate 7%

$1,442,571 $1.4M

Cap Rate 9%

$1,122,000 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,500 SF

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 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 (±1% cap)

NOI $133,701 @ 7.0% cap · market cap 10.74%

Second Best

Mixed Use

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,980 @ 7.0% cap · market cap 8.11%

Theoretical Best

Multifamily LT 5

$2.07M

$1.81M – $2.42M (±1% cap)

NOI $145,052 @ 7.0% cap · market cap 11.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Citizens Bank ATM Atm Kiddie Cloud Academy Daycare Center Dr. Lisa C. ... Physician

Suggested Use

Top Pick Real Estate Agency Law Firm HVAC Service Electrical Service Accounting Firm Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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