Established Nail Salon
For Sale
$249,000
3135 KENSINGTON AVENUE, Philadelphia, PA 19134
Nail salon operating under the same ownership for more than 20 years.
Property Size1,686 SF
Days on Market495
Property Features for 3135 KENSINGTON AVENUE
General Information
Standard status
Active
Size
1,686 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$846
Building Details
Building Size
1,686 SF
Year Built
1915
Listing Agency:
Appreciation Realty LLC
(267) 984-5688
Listed By:
Bei Y Chen · License #RS318088
(267) 984-5688
Source:
Patmckennarealtors
Added: Apr 22, 2025
Changed: Aug 28
Last Checked: Aug 26 at 9:57AM
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 Appreciation Realty LLC
Investment Insights
Based on property information with market context.
This spa and wellness property is configured for an established nail salon that has operated under the same ownership for more than 20 years. The reported property size is 1,686.
The property is located at 3135 Kensington Ave in Philadelphia’s Kensington business area, with access to the surrounding commercial district.
The property is located at 3135 Kensington Ave in Philadelphia’s Kensington business area, with access to the surrounding commercial district.
Key Highlights
- Established nail salon operation
- Same ownership for more than 20 years
- Located in Philadelphia’s Kensington business area
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
$19,056
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
7.65%
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%
$381,120
$381.1K
Cap Rate 7%
$272,229
$272.2K
Cap Rate 9%
$211,733
$211.7K
Market Conditions
NOI Build-Up for 1,686 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
$30.3K $18.00/SF
− Vacancy
−$3.1K −$1.85/SF
EGI
$27.2K $16.15/SF
− OpEx
−$8.2K −$4.84/SF
NOI
$19.1K $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%
$381,120
Cap Rate 7%
$272,229
Cap Rate 9%
$211,733
Alternative Uses
Best Use
Retail
$272.2K
$238.2K – $317.6K
NOI $19,056 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$411.0K
$359.6K – $479.5K
NOI $28,771 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,685
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 3%
Electronics 2%
Sunoco
Shops & Services
9,282 visits/mo
0.4 miles
7-Eleven
Shops & Services
6,537 visits/mo
0.3 miles
Wells Fargo
Shops & Services
5,981 visits/mo
0.1 miles
Dollar Tree
Shops & Services
5,786 visits/mo
0.4 miles
Bank of America
Shops & Services
3,144 visits/mo
0.1 miles
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
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.
Similar Off Market Nearby
- CORE LOVE CULTURE — 2064 E Lehigh Ave, Philadelphia, PA 19125
- Sunnyvale Wellness Center — 2340 E Allegheny Ave, Philadelphia, PA 19134
- Crossroads Treatment Center of Philadelphia, PA – Kensington — 2317 E Westmoreland St, Philadelphia, PA 19134
- NovaCare Rehabilitation - Port Richmond — 3300 Aramingo Ave Suite C-3, Philadelphia, PA 19134
- Ivy Rehab Physical Therapy — 3400 Aramingo Ave SUITE 11, Philadelphia, PA 19134
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Nail salon operating under the same ownership for more than 20 years.
Where is this spa & wellness property located?
The property is located at 3135 KENSINGTON AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Established nail salon operation; Same ownership for more than 20 years; Located in Philadelphia’s Kensington business area
