Mixed-Use Building with
2981 2981-5 Frankford Ave Philadelphia, PA 19134
For Sale
$998,000
Double-wide, three-story mixed-use building with a storefront, garage space, and six apartments plus a laundromat.
Property Size4,965 SF
Price / SF$201.01
Days on Market9
Property Features for 2981 2981-5 Frankford Ave
General Information
Standard status
Active
Size
4,965 SF
Building Details
Year Built
1915
Listing Agency:
Liberty Real Estate
(267) 767-7612
Listed By:
Richard Q Li · License #RM421130
Source:
Kandorre
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 28 at 2:07PM
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 Liberty Real Estate
Investment Insights
Based on property information with market context.
This for-sale package includes three components: a double-wide, three-story mixed-use building with a storefront, a garage, and six apartments; a double-wide vacant building lot sized 35x82 that is ready to be developed or converted to a parking area; and a laundromat operating on-site.
The building features a storefront and two-car garages on the south side. The laundromat is described as having close to 40 washers and dryers, with some units characterized as very new and powerful, and the business noted as having been in place for a long time with an established customer pool.
Overall, the offering combines residential income from the apartments with an established retail/laundry use, alongside additional land that can support future development or parking needs, depending on the buyer’s plan.
The building features a storefront and two-car garages on the south side. The laundromat is described as having close to 40 washers and dryers, with some units characterized as very new and powerful, and the business noted as having been in place for a long time with an established customer pool.
Overall, the offering combines residential income from the apartments with an established retail/laundry use, alongside additional land that can support future development or parking needs, depending on the buyer’s plan.
Key Highlights
- 1915‑built double‑wide, three‑story mixed‑use building with a storefront
- Includes garage space and 6 apartments
- On‑site laundromat with close to 40 washers and dryers
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $150.7k | $30.36 |
| − Vacancy | −$8.7k | −$1.76 |
| EGI | $142.0k | $28.60 |
| − OpEx | −$63.9k | −$12.87 |
| NOI | $78.1k | $15.73 |
4,965 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$976.2K – $1.30M
NOI $78,097 @ 7.0% cap · market cap 7.83%
Second Best
Mixed Use
$842.6K
$737.3K – $983.1K
NOI $58,984 @ 7.0% cap · market cap 5.91%
Theoretical Best
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,727 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Double-wide, three-story mixed-use building with a storefront, garage space, and six apartments plus a laundromat.
Where is this mixed-use property located?
The property is located at 2981 2981-5 Frankford Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: 1915‑built double‑wide, three‑story mixed‑use building with a storefront; Includes garage space and 6 apartments; On‑site laundromat with close to 40 washers and dryers
