Newly Renovated Mixed-Use
For Sale
$1,600,000
2301 Frankford Avenue, Philadelphia, PA 19125
Two newly renovated mixed-use apartment buildings with retail corner space, central HVAC, and in-unit washer/dryer amenities.
Property Size2,856 SF
Price / SF$560.22
Days on Market55
Property Features for 2301 Frankford Avenue
General Information
Standard status
Active
Size
2,856 SF
Property subtype
Multi-Family
Zoning
CMX2
Taxes and HOA fees
Annual Taxes
$3,986
Amenities
Other
Natural Gas
Yes
Central
No
Assessor
No Pool
Corner
Public
Y50
16.00 x 90.00
0.06
Concrete Perimeter
56960.00
Building Details
Building Size
2,856 SF
Year Built
1875
Listing Agency:
Samson Properties
(856) 222-0077
Listed By:
Amanda Strain
(610) 679-0127
Source:
Thetristaterealestategroup
Added: Jul 13
Changed: Sep 4
Last Checked: Sep 4 at 3:53AM
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 Samson Properties
Investment Insights
Based on property information with market context.
The portfolio includes fee simple ownership of two newly renovated mixed-use apartment buildings at 2301 Frankford Avenue and 240 E. Girard Avenue. The residential mix totals (14) one-bedroom units and (1) two-bedroom unit, with high-end finishes such as stainless steel appliances, stone countertops, LVT flooring, subway tile backsplashes, and sleek white shaker-style cabinetry. Units also include central HVAC, in-unit washer/dryer, and oversized windows.
Commercial spaces are located on well-located corners, and the 1,398-square-foot unit at 2301 Frankford Avenue is occupied by Cormorant Corner Bar. The buildings are positioned along active retail corridors on Frankford Avenue and Girard Avenue and are within walking distance of restaurants and cafes including WM Mulherin's Sons, LMNO, Suraya, Kalaya, La Colombe, and Pizzeria Beddia.
The portfolio is transit-oriented, with access to major thoroughfares including I-76, I-676, and I-95, and SEPTA train stations at Girard Avenue and Dauphin Street described as a short walk.
Commercial spaces are located on well-located corners, and the 1,398-square-foot unit at 2301 Frankford Avenue is occupied by Cormorant Corner Bar. The buildings are positioned along active retail corridors on Frankford Avenue and Girard Avenue and are within walking distance of restaurants and cafes including WM Mulherin's Sons, LMNO, Suraya, Kalaya, La Colombe, and Pizzeria Beddia.
The portfolio is transit-oriented, with access to major thoroughfares including I-76, I-676, and I-95, and SEPTA train stations at Girard Avenue and Dauphin Street described as a short walk.
Key Highlights
- Portfolio of two newly renovated mixed‑use buildings in Philadelphia’s Fishtown neighborhood (2301 Frankford Ave and 240 E Girard Ave).
- Unit mix includes 14 one‑bedroom units and 1 two‑bedroom unit, with in‑unit washer/dryer.
- High‑end interior finishes include stainless steel appliances, stone countertops, LVT flooring, subway tile backsplashes, and white shaker‑style cabinetry.
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
$44,923
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
2.81%
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%
$898,460
$898.5K
Cap Rate 7%
$641,757
$641.8K
Cap Rate 9%
$499,144
$499.1K
Market Conditions
NOI Build-Up for 2,856 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
$86.7K $30.36/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$81.7K $28.60/SF
− OpEx
−$36.8K −$12.87/SF
NOI
$44.9K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /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%
$898,460
Cap Rate 7%
$641,757
Cap Rate 9%
$499,144
Alternative Uses
Best Use
Apartment 5plus
$641.8K
$561.5K – $748.7K
NOI $44,923 @ 7.0% cap · market cap 2.81%
Second Best
Specialty Retail
$591.2K
$517.3K – $689.7K
NOI $41,383 @ 7.0% cap · market cap 2.59%
Theoretical Best
Multifamily LT 5
$696.2K
$609.2K – $812.3K
NOI $48,737 @ 7.0% cap · market cap 3.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,661
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
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?
Apartment building - Two newly renovated mixed-use apartment buildings with retail corner space, central HVAC, and in-unit washer/dryer amenities.
Where is this apartment building located?
The property is located at 2301 Frankford Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Portfolio of two newly renovated mixed‑use buildings in Philadelphia’s Fishtown neighborhood (2301 Frankford Ave and 240 E Girard Ave).; Unit mix includes 14 one‑bedroom units and 1 two‑bedroom unit, with in‑unit washer/dryer.; High‑end interior finishes include stainless steel appliances, stone countertops, LVT flooring, subway tile backsplashes, and white shaker‑style cabinetry.
