Triplex with Street-Level Commercial
New
For Sale
$339,900
3113 Frankford Ave, Philadelphia, PA 19134
Two upper apartments sit above a flexible business area with separate utilities.
Property Size2,160 SF
Price / SF$157.36
Days on Market2
Property Features for 3113 Frankford Ave
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi-Family
Amenities
coin-operated washer/dryer
Building Details
Year Built
1910
Listing Agency:
Realty Mark Associates
Listed By:
Mireya C Delgado · License #AB068587
(267) 432-2217
Source:
Upgradebymichaud
Added: Sep 20
Last Checked: Sep 16 at 8:09PM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
This 2,160-square-foot triplex combines two residential apartments with a street-level commercial area. The lower space features an open arrangement, tall ceilings, and exposed brick, and it includes access to a coin-operated washer and dryer. The area may also be converted into an additional apartment, subject to applicable requirements.
Each upper unit has a practical layout and ample natural light. Separate utilities and updated mechanical systems support the property’s mixed-use configuration, while flexible zoning accommodates both commercial and residential income uses. Located at 3113 Frankford Ave in Philadelphia’s Kensington area, the property offers a three-unit arrangement with both residential and commercial components.
Each upper unit has a practical layout and ample natural light. Separate utilities and updated mechanical systems support the property’s mixed-use configuration, while flexible zoning accommodates both commercial and residential income uses. Located at 3113 Frankford Ave in Philadelphia’s Kensington area, the property offers a three-unit arrangement with both residential and commercial components.
Key Highlights
- 2,160‑square‑foot triplex with two residential units and a street‑level commercial area
- Lower‑level space includes tall ceilings, exposed brick, and an open layout
- Commercial area may be converted into an additional apartment
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
$28,425
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
8.36%
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%
$568,500
$568.5K
Cap Rate 7%
$406,071
$406.1K
Cap Rate 9%
$315,833
$315.8K
Market Conditions
NOI Build-Up for 2,160 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
$47.4K $21.96/SF
− Vacancy
−$9.5K −$4.41/SF
EGI
$37.9K $17.55/SF
− OpEx
−$9.5K −$4.39/SF
NOI
$28.4K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$568,500
Cap Rate 7%
$406,071
Cap Rate 9%
$315,833
Alternative Uses
Best Use
Multifamily LT 5
$526.6K
$460.8K – $614.3K
NOI $36,860 @ 7.0% cap · market cap 10.84%
Second Best
Apartment 5plus
$485.4K
$424.7K – $566.3K
NOI $33,976 @ 7.0% cap · market cap 10.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,506
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Triplex - Two upper apartments sit above a flexible business area with separate utilities.
Where is this triplex located?
The property is located at 3113 Frankford Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 2,160‑square‑foot triplex with two residential units and a street‑level commercial area; Lower‑level space includes tall ceilings, exposed brick, and an open layout; Commercial area may be converted into an additional apartment
