Five-Unit Mixed-Use
For Sale
$1,500,000
1132 W Main Street, Norristown, PA 19401
Five licensed rental units above a first-floor convenience store and commercial space occupied by El Gordo Bros.
Property Size5,685 SF
Price / SF$263.85
Days on Market37
Property Features for 1132 W Main Street
General Information
Standard status
Active
Size
5,685 SF
Property subtype
Commercial
Lease Term
[]
Units
Unit Mix
1 x 2BR, 2 x efficiency, 2 x boarding-room
Multifamily Units
5
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
1910
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(215) 641-2727
Listed By:
Michael Marchese · License #RS306072
Source:
Deepcreeklake
Added: Jul 19
Changed: Aug 23
Last Checked: Aug 23 at 6:57AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use building totals 5,685 square feet and includes five licensed residential rental units plus first-floor convenience retail and commercial space occupied by El Gordo Bros. The restaurant concept on the ground level is described as a well-established local business, and the restaurant and convenience store together occupy the entire first floor.
The second floor features three residential units: one two-bedroom apartment with a private outdoor deck and separately metered utilities (including heat and hot water), along with two efficiency units with separate electric meters. The third floor adds two additional licensed boarding-room units, all in good condition. All residential units and the restaurant are properly licensed, and the building will meet Municipality of Norristown requirements, including the latest fire-egress safety standards.
The property is located at 1132 W Main St in Norristown, positioned at the western end of Norristown just below the West Norriton Township line, with nearby national retailers and franchises including Chase Bank, Dunkin’, McDonald’s, Domino’s, Royal Farms, and Aaron’s.
The second floor features three residential units: one two-bedroom apartment with a private outdoor deck and separately metered utilities (including heat and hot water), along with two efficiency units with separate electric meters. The third floor adds two additional licensed boarding-room units, all in good condition. All residential units and the restaurant are properly licensed, and the building will meet Municipality of Norristown requirements, including the latest fire-egress safety standards.
The property is located at 1132 W Main St in Norristown, positioned at the western end of Norristown just below the West Norriton Township line, with nearby national retailers and franchises including Chase Bank, Dunkin’, McDonald’s, Domino’s, Royal Farms, and Aaron’s.
Key Highlights
- 5,685‑square‑foot mixed‑use building with five licensed residential rental units plus first‑floor convenience retail and commercial space
- First floor occupies the entire ground level with a convenience store and commercial space occupied by El Gordo Bros
- Second floor: three units—two‑bedroom with private outdoor deck and separately metered heat/hot water, plus two efficiency units with separate electric meters
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
$76,806
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
5.12%
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%
$1,536,120
$1.5M
Cap Rate 7%
$1,097,229
$1.1M
Cap Rate 9%
$853,400
$853.4K
Market Conditions
NOI Build-Up for 5,685 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
$148.7K $26.16/SF
− Vacancy
−$9.1K −$1.60/SF
EGI
$139.6K $24.56/SF
− OpEx
−$62.8K −$11.05/SF
NOI
$76.8K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
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%
$1,536,120
Cap Rate 7%
$1,097,229
Cap Rate 9%
$853,400
Alternative Uses
Best Use
Specialty Retail
$3.27M
$2.86M – $3.82M
NOI $228,905 @ 7.0% cap · market cap 15.26%
Second Best
Apartment 5plus
$1.10M
$960.1K – $1.28M
NOI $76,806 @ 7.0% cap · market cap 5.12%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Explore this area
Business Placement
Demographics for 19401, PA
43,414
Population
18,236
Households
2.4
Avg Household Size
36
Median Age
28%
College-Educated
86%
High-School Grad
6.2 sq mi
ZIP Area
7,002
Density / Sq Mi
$68,646
Median Household Income
$38,050
Median Earnings
$1,392
Median Rent
$225,700
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 - Five licensed rental units above a first-floor convenience store and commercial space occupied by El Gordo Bros.
Where is this mixed-use property located?
The property is located at 1132 W Main Street Norristown, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,685‑square‑foot mixed‑use building with five licensed residential rental units plus first‑floor convenience retail and commercial space; First floor occupies the entire ground level with a convenience store and commercial space occupied by El Gordo Bros; Second floor: three units—two‑bedroom with private outdoor deck and separately metered heat/hot water, plus two efficiency units with separate electric meters
