Mixed-Use Assemblage with Theatre
For Sale
$3,500,000
20915 FAIRMOUNT AVENUE, Philadelphia, PA 19123
Two contiguous CMX-2.5 parcels combine an income-producing building with a paved secondary lot and future planning flexibility.
Property Size9,700 SF
Price / SF$360.82
Days on Market466
Property Features for 20915 FAIRMOUNT AVENUE
General Information
Standard status
Active
Size
9,700 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$9,798
Amenities
Central Air
3
Tile, Vinyl, Carpet, Wood
Rubber
Parking.
On Street, Lot.
67.00 x 75.00
Additional Lot(s). Urban, Asphalt.
Building Details
Year Built
1848
Stories
2
Listing Agency:
(610) 715-1886
Listed By:
Styer Real Estate
(610) 715-1886
Source:
Xome
Added: May 5, 2025
Changed: Aug 12
Last Checked: Aug 13 at 3:28AM
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 Styer Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial building at 209–215 Fairmount Avenue with the adjoining 705 N American Street parcel. The 1848 building includes a second-story theatre hall with open-span volume, preserved allegorical ceiling panels, pressed-metal ceilings reaching 18 feet on the main level, original woodwork, hardwood floors upstairs, and a full-building basement with 10’+ ceiling height. Central air and multiple interior floor finishes are also present.
The separate parcel is a vacant paved lot with secondary access, expanding the overall site configuration. Both properties carry CMX-2.5 zoning. Existing occupancy is scheduled to continue through December 31, 2026, establishing a defined point for future planning or repositioning. Showings are available after 6 PM on weekdays and on weekends, with virtual 3D tour access.
The separate parcel is a vacant paved lot with secondary access, expanding the overall site configuration. Both properties carry CMX-2.5 zoning. Existing occupancy is scheduled to continue through December 31, 2026, establishing a defined point for future planning or repositioning. Showings are available after 6 PM on weekdays and on weekends, with virtual 3D tour access.
Key Highlights
- Two contiguous parcels: 209–215 Fairmount Avenue and 705 N American Street
- CMX‑2.5 zoning across the assemblage
- Second‑story theatre hall with open‑span volume and preserved allegorical ceiling panels
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
$115,236
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
3.29%
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%
$2,304,720
$2.3M
Cap Rate 7%
$1,646,229
$1.6M
Cap Rate 9%
$1,280,400
$1.3M
Market Conditions
NOI Build-Up for 9,700 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
$209.5K $21.60/SF
− Vacancy
−$25.1K −$2.59/SF
EGI
$184.4K $19.01/SF
− OpEx
−$69.1K −$7.13/SF
NOI
$115.2K $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,304,720
Cap Rate 7%
$1,646,229
Cap Rate 9%
$1,280,400
Alternative Uses
Best Use
Mixed Use
$1.65M
$1.44M – $1.92M
NOI $115,236 @ 7.0% cap · market cap 3.29%
Second Best
Retail
$1.57M
$1.37M – $1.83M
NOI $109,631 @ 7.0% cap · market cap 3.13%
Theoretical Best
Multifamily LT 5
$2.36M
$2.07M – $2.76M
NOI $165,529 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,255
Businesses Nearby
103k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 43%
Dining 33%
Shops & Services 16%
Home Improvements & Furnishings 8%
Target
Superstores
43,947 visits/mo
0.5 miles
Dunkin' Donuts
Dining
14,354 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,196 visits/mo
0.5 miles
Applebee's
Dining
8,592 visits/mo
0.5 miles
Gulf Oil
Shops & Services
4,681 visits/mo
0.3 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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two contiguous CMX-2.5 parcels combine an income-producing building with a paved secondary lot and future planning flexibility.
Where is this mixed-use property located?
The property is located at 20915 FAIRMOUNT AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Two contiguous parcels: 209–215 Fairmount Avenue and 705 N American Street; CMX‑2.5 zoning across the assemblage; Second‑story theatre hall with open‑span volume and preserved allegorical ceiling panels
