Three-Story Mixed-Use
For Sale
$249,999
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$131.58
Days on Market8
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
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 2
Changed: Sep 8
Last Checked: Sep 9 at 7:37AM
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
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 = 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
$22,572
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
9.03%
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%
$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
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
$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 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%
$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 11.01%
Second Best
Mixed Use
$322.5K
$282.2K – $376.2K
NOI $22,572 @ 7.0% cap · market cap 9.03%
Theoretical Best
Multifamily LT 5
$463.2K
$405.3K – $540.4K
NOI $32,423 @ 7.0% cap · market cap 12.97%
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
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
View Realmo Analytics
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 - 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 $249,999.
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
