Three-Story Mixed-Use
For Sale
$247,999
1413 W ERIE AVENUE, Philadelphia, PA 19140
Three-story property with a storefront restaurant, occupied second-floor space, and a vacant upper floor.
Property Size1,900 SF
Price / SF$130.53
Days on Market52
Property Features for 1413 W ERIE AVENUE
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
needs some love
Site & Location
Neighborhood
North Philadelphia
Building Details
Year Built
1940
Buildings
1
Stories
3
Listing Agency:
Panphil Realty, LLC
(215) 332-3089
Listed By:
Iam Chen · License #RS-317329
(267) 231-7197
Source:
Cummingsrealtors
Added: Sep 4
Changed: Oct 25
Last Checked: Oct 24 at 5:09PM
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 Panphil Realty, LLC
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Investment Insights
Based on property information with market context.
This three-story mixed-use property was built in 1940 and includes a ground-floor storefront currently occupied by a Chinese restaurant. The restaurant business has operated at the property for more than 5 years and also uses the second-floor unit. The third floor is vacant, providing additional space within the existing building configuration.
The property is located near Temple University at 1413 W Erie Avenue in Philadelphia. It is offered in as-is condition and requires work, making the current occupancy and vacant third floor important considerations for an owner or operator evaluating the asset.
The property is located near Temple University at 1413 W Erie Avenue in Philadelphia. It is offered in as-is condition and requires work, making the current occupancy and vacant third floor important considerations for an owner or operator evaluating the asset.
Key Highlights
- Three‑story mixed‑use building constructed in 1940
- Ground‑floor storefront occupied by a Chinese restaurant
- Restaurant business has operated at the property for more than 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,572
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,440
$451.4K
Cap Rate 7%
$322,457
$322.5K
Cap Rate 9%
$250,800
$250.8K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$41.0K $21.60/SF
− Vacancy
−$4.9K −$2.59/SF
EGI
$36.1K $19.01/SF
− OpEx
−$13.5K −$7.13/SF
NOI
$22.6K $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 Rate 5%
$451,440
Cap Rate 7%
$322,457
Cap Rate 9%
$250,800
Alternative Uses
Best Use
Specialty Retail
$393.3K
$344.1K – $458.9K
NOI $27,531 @ 7.0% cap · market cap 11.10%
Second Best
Mixed Use
$322.5K
$282.2K – $376.2K
NOI $22,572 @ 7.0% cap · market cap 9.10%
Theoretical Best
Multifamily LT 5
$463.2K
$405.3K – $540.4K
NOI $32,423 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,185
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Electronics 17%
Groceries 12%
Dining 3%
AutoZone
Shops & Services
6,236 visits/mo
0.3 miles
PNC Bank
Shops & Services
5,390 visits/mo
0.4 miles
Speedway
Shops & Services
4,892 visits/mo
0.5 miles
Fine Wine & Good Spirits
Groceries
4,022 visits/mo
0.4 miles
Liberty Tax
Shops & Services
3,357 visits/mo
0.1 miles
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property with a storefront restaurant, occupied second-floor space, and a vacant upper floor.
Where is this mixed-use property located?
The property is located at 1413 W ERIE AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $247,999.
What are key features of this property?
This property features: Three‑story mixed‑use building constructed in 1940; Ground‑floor storefront occupied by a Chinese restaurant; Restaurant business has operated at the property for more than 5 years
