Corner Storefront with Separate
For Sale
$249,900
2205 Island Avenue, Philadelphia, PA 19142
CMX2-zoned commercial building with separate basement storage and trolley and bus stops directly in front.
Property Size1,600 SF
Price / SF$156.19
Days on Market573
Property Features for 2205 Island Avenue
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX2
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$860
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1925
Listing Agency:
EXP Realty, LLC
(267) 261-1711
Listed By:
Chris Griswold · License #RS299531
(267) 261-1711
Source:
Compass
Added: Feb 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:22PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1,600-square-foot storefront property was built in 1925 and is designated CMX2. The commercial building has separate entrances and separate basement areas that provide storage capacity. Its layout can accommodate one or two businesses, subject to applicable requirements.
The property occupies the corner of Cobbs Creek Parkway and Woodland Avenue at 2205 Island Avenue in Philadelphia. Trolley Route 11 and Bus Route 68 stop in front of the building, with access extending toward Delaware County and Center City Philadelphia. The airport is described as minutes away, adding another transportation connection to the site.
The property occupies the corner of Cobbs Creek Parkway and Woodland Avenue at 2205 Island Avenue in Philadelphia. Trolley Route 11 and Bus Route 68 stop in front of the building, with access extending toward Delaware County and Center City Philadelphia. The airport is described as minutes away, adding another transportation connection to the site.
Key Highlights
- 1,600 SF storefront property built in 1925
- CMX2 zoning designation
- Separate entrances support a one- or two‑business configuration
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
$18,084
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
7.24%
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%
$361,680
$361.7K
Cap Rate 7%
$258,343
$258.3K
Cap Rate 9%
$200,933
$200.9K
Market Conditions
NOI Build-Up for 1,600 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
$28.8K $18.00/SF
− Vacancy
−$3.0K −$1.85/SF
EGI
$25.8K $16.15/SF
− OpEx
−$7.8K −$4.84/SF
NOI
$18.1K $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%
$361,680
Cap Rate 7%
$258,343
Cap Rate 9%
$200,933
Alternative Uses
Best Use
Retail
$258.3K
$226.1K – $301.4K
NOI $18,084 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$390.1K
$341.3K – $455.1K
NOI $27,304 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 50%
Dunkin' Donuts
Dining
9,399 visits/mo
0.5 miles
Conoco
Shops & Services
4,249 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
4,023 visits/mo
0.1 miles
Marathon
Shops & Services
3,206 visits/mo
0.3 miles
Little Caesars Pizza
Dining
1,899 visits/mo
0.4 miles
Demographics for 19142, PA
29,565
Population
12,943
Households
2.3
Avg Household Size
33
Median Age
13%
College-Educated
82%
High-School Grad
1.7 sq mi
ZIP Area
17,391
Density / Sq Mi
$42,812
Median Household Income
$32,763
Median Earnings
$1,269
Median Rent
$110,400
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?
Storefront property - CMX2-zoned commercial building with separate basement storage and trolley and bus stops directly in front.
Where is this storefront property located?
The property is located at 2205 Island Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,600 SF storefront property built in 1925; CMX2 zoning designation; Separate entrances support a one- or two‑business configuration
