Freestanding Retail and Office
For Sale
$350,000
121 W Girard Avenue, Philadelphia, PA 19123
Approximate 1,200 SF building offers flexible space for retail or owner-user office use.
Property Size1,260 SF
Price / SF$277.78
Days on Market255
Property Features for 121 W Girard Avenue
General Information
Standard status
Active
Size
1,260 SF
Property subtype
Commercial
Zoning
CMX3
Taxes and HOA fees
Annual Taxes
$3,341
Amenities
Natural Gas
Yes
No
1
Public
S30
14.00 x 52.00
0.02
Assessor
On Street
0.00
47740.00
Building Details
Year Built
1920
Listing Agency:
MSC Retail, Inc.
(856) 222-0077
Listed By:
Julia Joyce-Hall
(856) 630-4482
Source:
Thetristaterealestategroup
Added: Dec 24, 2025
Changed: Sep 4
Last Checked: Sep 5 at 4:33AM
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 MSC Retail, Inc.
Investment Insights
Based on property information with market context.
This approximately 1,200 SF freestanding building is positioned at the edge of massive Northern Liberties development. The property is suited for a small retail-type business, or for owner-user and office purposes.
The building’s location offers direct placement within a growing development area, supporting interest from tenants and buyers looking for a flexible footprint.
With its straightforward size and adaptable retail/office use concept, the property may also fit buyers considering future development plans.
The building’s location offers direct placement within a growing development area, supporting interest from tenants and buyers looking for a flexible footprint.
With its straightforward size and adaptable retail/office use concept, the property may also fit buyers considering future development plans.
Key Highlights
- Approx. 1,200 SF building with flexible space for retail or owner‑user office use
- Year built: 1920
- 1 total restroom
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
$14,241
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
4.07%
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%
$284,820
$284.8K
Cap Rate 7%
$203,443
$203.4K
Cap Rate 9%
$158,233
$158.2K
Market Conditions
NOI Build-Up for 1,260 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
$22.7K $18.00/SF
− Vacancy
−$2.3K −$1.85/SF
EGI
$20.3K $16.15/SF
− OpEx
−$6.1K −$4.84/SF
NOI
$14.2K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$284,820
Cap Rate 7%
$203,443
Cap Rate 9%
$158,233
Alternative Uses
Best Use
Retail
$203.4K
$178.0K – $237.4K
NOI $14,241 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$307.2K
$268.8K – $358.4K
NOI $21,502 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,571
Businesses Nearby
64k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 26%
Groceries 11%
Electronics 6%
McDonald's
Dining
23,463 visits/mo
0.1 miles
Fine Wine & Good Spirits
Groceries
6,966 visits/mo
0.1 miles
Wells Fargo
Shops & Services
5,966 visits/mo
0.2 miles
Jeni's Splendid Ice Creams
Dining
5,149 visits/mo
0.1 miles
The UPS Store
Shops & Services
4,184 visits/mo
0.2 miles
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Approximate 1,200 SF building offers flexible space for retail or owner-user office use.
Where is this storefront property located?
The property is located at 121 W Girard Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Approx. 1,200 SF building with flexible space for retail or owner‑user office use; Year built: 1920; 1 total restroom
