Storefront Property with Basement
For Sale
$239,900
1503 E WADSWORTH AVENUE Unit B, Philadelphia, PA 19150
Flexible commercial space with central HVAC, a rear work area, and CMX-2 zoning along an established urban corridor.
Property Size2,475 SF
Price / SF$149.94
Days on Market12
Property Features for 1503 E WADSWORTH AVENUE Unit B
General Information
Standard status
Active
Size
2,475 SF
Property subtype
Retail
Zoning
CMX-2
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$2,772
Amenities
open customer area
rear office and workspace
restroom
central HVAC
full unfinished basement
Building Details
Building Size
2,475 SF
Year Built
1949
Listing Agency:
KW Empower
(267) 907-5691
Listed By:
Eric Woodhead · License #RS375021
(267) 907-5691
Source:
Lizclarkrealestate
Added: Aug 20
Changed: Aug 31
Last Checked: Aug 30 at 10:06PM
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 KW Empower
Investment Insights
Based on property information with market context.
This storefront property provides 2,475 square feet of commercial space, including approximately 1,600 square feet on the main level and a full unfinished basement. The primary floor is arranged with an open customer area, rear office and workspace, restroom, and central HVAC. Tile and carpet finishes support a practical interior setup, while the basement adds storage and utility capacity.
The property is positioned along Wadsworth Avenue in Philadelphia, with access to Cheltenham Avenue, Route 611, Route 309, and the Pennsylvania Turnpike. CMX-2 zoning and a flexible interior layout may support retail, office, and service uses subject to applicable zoning requirements and approvals. On-street parking is available, and the property was built in 1949.
The property is positioned along Wadsworth Avenue in Philadelphia, with access to Cheltenham Avenue, Route 611, Route 309, and the Pennsylvania Turnpike. CMX-2 zoning and a flexible interior layout may support retail, office, and service uses subject to applicable zoning requirements and approvals. On-street parking is available, and the property was built in 1949.
Key Highlights
- 2,475‑square‑foot storefront property with approximately 1,600 square feet on the main level
- Full unfinished basement provides additional storage and utility space
- Open customer area, rear office and workspace, restroom, and central HVAC
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
7.54%
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 7.54%
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 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
120k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 37%
Shops & Services 31%
Dining 28%
Electronics 4%
Ross Dress for Less
Apparel
19,996 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
14,837 visits/mo
0.2 miles
Dollar Tree
Shops & Services
13,825 visits/mo
0.4 miles
Cold Stone Creamery
Dining
10,027 visits/mo
0.3 miles
Santander Bank
Shops & Services
9,728 visits/mo
0.3 miles
Demographics for 19150, PA
23,126
Population
10,868
Households
2.1
Avg Household Size
47
Median Age
28%
College-Educated
91%
High-School Grad
1.5 sq mi
ZIP Area
15,417
Density / Sq Mi
$61,257
Median Household Income
$43,002
Median Earnings
$1,282
Median Rent
$225,400
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 - Flexible commercial space with central HVAC, a rear work area, and CMX-2 zoning along an established urban corridor.
Where is this storefront property located?
The property is located at 1503 E WADSWORTH AVENUE Unit B Philadelphia, PA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 2,475‑square‑foot storefront property with approximately 1,600 square feet on the main level; Full unfinished basement provides additional storage and utility space; Open customer area, rear office and workspace, restroom, and central HVAC
