Newer-Construction Mixed-Use
1617-19 Ridge Ave Philadelphia, PA 19130
1617-19 Ridge Ave, Philadelphia, PA, 19130
Contact for pricing
For Sale
Contact for pricing
Built in 2023, the property includes 13 residential units, 1 commercial unit, and a rooftop deck with elevator service.
Property Size9,213 SF
Price / SF$379.90
Days on Market80
Property Features for 1617-19 Ridge Ave
General Information
- Standard status
- Active
- Size
- 9,213 SF
- Property subtype
- Mixed Use, Multifamily, Retail
Building Details
- Year Built
- 2023
Listing agency
REAL of Pennsylvania
(484) 744-4053
Listed by
William Holder · License #PA319441
Source
Crexi
Added: May 5 Updated: Jul 21 at 1:06AM Checked: Jul 22 at 8:49AM
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 REAL of Pennsylvania
Investment Insights
Based on property information with market context.
1617-19 Ridge Ave is a newer-construction mixed-use building completed in 2023. The property contains 13 residential units, including a mix of 1- and 2-bedroom apartments plus one bi-level unit, and includes 1 commercial unit. Residential amenities include a shared rooftop deck, elevator access, additional hallway storage, and a secure private breezeway rear entrance with key-fob-only access. The rear breezeway also accommodates the building’s trash room, mailboxes, and a package/Amazon drop area designed for tenant use.
The commercial unit has its front entrance directly on Ridge Ave for visibility. The space is described as bi-level, with a finished main floor that includes a bathroom and an unfinished lower level that offers additional room for expansion, storage, workspace, or customization. The construction also includes installed venting access to support kitchen-related use.
The offering is presented with remaining tax abatement of approximately 7 years remaining, and the property is located in a census tract designated as a Qualified Opportunity Zone based on 2026 data. Buyer should verify all tax abatement details and Opportunity Zone eligibility, timing, and potential benefits with their tax advisor.
The commercial unit has its front entrance directly on Ridge Ave for visibility. The space is described as bi-level, with a finished main floor that includes a bathroom and an unfinished lower level that offers additional room for expansion, storage, workspace, or customization. The construction also includes installed venting access to support kitchen-related use.
The offering is presented with remaining tax abatement of approximately 7 years remaining, and the property is located in a census tract designated as a Qualified Opportunity Zone based on 2026 data. Buyer should verify all tax abatement details and Opportunity Zone eligibility, timing, and potential benefits with their tax advisor.
Key Highlights
- Built in 2023 mixed‑use building with 13 residential units and 1 commercial unit
- Residential unit mix includes 1- and 2‑bedroom apartments, including one bi‑level unit
- Shared rooftop deck plus elevator service for residential tenants
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $279.7k | $30.36 |
| − Vacancy | −$16.2k | −$1.76 |
| EGI | $263.5k | $28.60 |
| − OpEx | −$118.6k | −$12.87 |
| NOI | $144.9k | $15.73 |
9,213 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.42M
NOI $144,916 @ 7.0% cap · market cap 4.14%
Second Best
Mixed Use
$1.56M
$1.37M – $1.82M
NOI $109,450 @ 7.0% cap · market cap 3.13%
Theoretical Best
Multifamily LT 5
$2.25M
$1.97M – $2.62M
NOI $157,219 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Built in 2023, the property includes 13 residential units, 1 commercial unit, and a rooftop deck with elevator service.
Where is this mixed-use property located?
The property is located at 1617-19 Ridge Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Built in 2023 mixed‑use building with 13 residential units and 1 commercial unit; Residential unit mix includes 1- and 2‑bedroom apartments, including one bi‑level unit; Shared rooftop deck plus elevator service for residential tenants
