Mixed-Use Building with
For Sale
$649,000
1641 West Girard Avenue, Philadelphia, PA 19130
Fully leased property combines a salon-oriented commercial suite with three upper-floor apartments.
Property Size3,820 SF
Price / SF$169.90
Days on Market408
Property Features for 1641 West Girard Avenue
General Information
Standard status
Active
Size
3,820 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX2
Occupancy
100%
Site & Location
Corner Location
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR, 2 x 1BR
Multifamily Units
3
Additional Details
Gross Income
$63,942
Taxes and HOA fees
Annual Taxes
$8,127
Amenities
No Pool
Above Grade
Building Details
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
New Age Realty Group Inc
Listed By:
Christos Tzimoulis · License #RM423707
(215) 387-1002
Source:
Compass
Added: Jul 26, 2025
Changed: Sep 2
Last Checked: Aug 30 at 9:29PM
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 New Age Realty Group Inc
Investment Insights
Based on property information with market context.
This 3,820-square-foot mixed-use building, constructed in 1915, includes a first-floor commercial suite and three apartments above. The commercial area is arranged for salon use, with multiple private suites, a reception area, and a dedicated corner entrance. Residential access is provided separately from the 17th Street side, with one three-bedroom apartment on the second floor and two one-bedroom apartments on the third floor.
The property occupies the corner of 17th Street and Girard Avenue in Philadelphia’s Fairmount area, next to St. Joe’s Prep. CMX2 zoning supports the existing mixed-use configuration. Utilities are separately metered, and basement access is available through a Bilco door along 17th Street. The building is currently fully leased.
The property occupies the corner of 17th Street and Girard Avenue in Philadelphia’s Fairmount area, next to St. Joe’s Prep. CMX2 zoning supports the existing mixed-use configuration. Utilities are separately metered, and basement access is available through a Bilco door along 17th Street. The building is currently fully leased.
Key Highlights
- 3,820‑square‑foot mixed‑use building constructed in 1915
- Three apartments: one 3‑bedroom unit and two 1‑bedroom units
- First‑floor salon setup with multiple private suites and reception area
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
$45,382
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
6.99%
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%
$907,640
$907.6K
Cap Rate 7%
$648,314
$648.3K
Cap Rate 9%
$504,244
$504.2K
Market Conditions
NOI Build-Up for 3,820 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
$82.5K $21.60/SF
− Vacancy
−$9.9K −$2.59/SF
EGI
$72.6K $19.01/SF
− OpEx
−$27.2K −$7.13/SF
NOI
$45.4K $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%
$907,640
Cap Rate 7%
$648,314
Cap Rate 9%
$504,244
Alternative Uses
Best Use
Apartment 5plus
$858.4K
$751.1K – $1.00M
NOI $60,087 @ 7.0% cap · market cap 9.26%
Second Best
Mixed Use
$648.3K
$567.3K – $756.4K
NOI $45,382 @ 7.0% cap · market cap 6.99%
Theoretical Best
Multifamily LT 5
$931.3K
$814.9K – $1.09M
NOI $65,188 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,455
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased property combines a salon-oriented commercial suite with three upper-floor apartments.
Where is this mixed-use property located?
The property is located at 1641 West Girard Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 3,820‑square‑foot mixed‑use building constructed in 1915; Three apartments: one 3‑bedroom unit and two 1‑bedroom units; First‑floor salon setup with multiple private suites and reception area
