Mixed-Use Apartment and Retail
For Sale
$1,500,000
4501 4501-3 Frankford Ave, Philadelphia, PA 19124
Fully occupied 12-unit mixed-use property with ground-floor retail storefronts and residential apartments.
Property Size11,384 SF
Price / SF$131.76
Days on Market46
Property Features for 4501 4501-3 Frankford Ave
General Information
Standard status
Active
Size
11,384 SF
Zoning
CMX-2
Occupancy
100%
Additional Details
Cap Rate
9.3%
Multifamily Units
10
Building Details
Year Built
1935
Tenancy
Multi
Listing Agency:
RE/MAX Preferred - Cherry Hill
Listed By:
ARAFAT FARHAT · License #1974100
(609) 352-5803
Source:
Kandorre
Added: Jul 21
Changed: Aug 12
Last Checked: Sep 1 at 10:45PM
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 RE/MAX Preferred - Cherry Hill
Investment Insights
Based on property information with market context.
This fully occupied mixed-use building contains 12 total units, including 10 residential apartments and two ground-floor retail storefronts. Apartment layouts include studio and 1-bedroom options, and the property provides separate residential and commercial income streams under the same roof.
The property is situated at 4501–03 Frankford Ave in Philadelphia and is positioned on a corner along an active commercial corridor. The retail storefronts benefit from high visibility along Frankford Avenue.
The offering is listed under CMX-2 zoning. Financial information provided includes approximately $12,200 in gross monthly income (about $146,400 annually) and real estate taxes of $7,348 per year, with an approximate NOI calculated based solely on the taxes provided.
The property is situated at 4501–03 Frankford Ave in Philadelphia and is positioned on a corner along an active commercial corridor. The retail storefronts benefit from high visibility along Frankford Avenue.
The offering is listed under CMX-2 zoning. Financial information provided includes approximately $12,200 in gross monthly income (about $146,400 annually) and real estate taxes of $7,348 per year, with an approximate NOI calculated based solely on the taxes provided.
Key Highlights
- 12‑unit mixed‑use building (Year built 1935) with 10 residential apartments and 2 ground‑floor retail storefronts
- Fully occupied with stable tenancy across residential and retail units, providing separate income streams
- Gross monthly income of approximately $12,200 ($146,400 annually) from residential and commercial rents
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
$134,974
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
9.00%
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%
$2,699,480
$2.7M
Cap Rate 7%
$1,928,200
$1.9M
Cap Rate 9%
$1,499,711
$1.5M
Market Conditions
NOI Build-Up for 11,384 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
$265.0K $23.28/SF
− Vacancy
−$19.6K −$1.72/SF
EGI
$245.4K $21.56/SF
− OpEx
−$110.4K −$9.70/SF
NOI
$135.0K $11.86/SF
Area
ZIP 19124
Vacancy
7.40%
Lease Rate
$23.28 /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%
$2,699,480
Cap Rate 7%
$1,928,200
Cap Rate 9%
$1,499,711
Alternative Uses
Best Use
Retail
$6.11M
$5.35M – $7.13M
NOI $427,816 @ 7.0% cap · market cap 28.52%
Second Best
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $134,974 @ 7.0% cap · market cap 9.00%
Theoretical Best
Specialty Retail
$6.55M
$5.73M – $7.64M
NOI $458,374 @ 7.0% cap · market cap 30.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,733
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
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 - Fully occupied 12-unit mixed-use property with ground-floor retail storefronts and residential apartments.
Where is this apartment building located?
The property is located at 4501 4501-3 Frankford Ave Philadelphia, 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: 12‑unit mixed‑use building (Year built 1935) with 10 residential apartments and 2 ground‑floor retail storefronts; Fully occupied with stable tenancy across residential and retail units, providing separate income streams; Gross monthly income of approximately $12,200 ($146,400 annually) from residential and commercial rents
