Mixed-Use Building With Roof
1654 Ridge Avenue, Philadelphia, PA 19130
For Sale
New
$2,399,999
Residential apartments sit above operating ground-floor commercial space in a corner property zoned CMX25.
Property Size9,000 SF
Price / SF$266.67
Days on Market5
Property Features for 1654 Ridge Avenue
General Information
Standard status
Size
Zoning
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Cap Rate
Taxes and HOA fees
Annual Taxes
Amenities
private balconies
roofdecks
common roofdeck
Luxury Vinyl Plank
Natural Gas
1
Yes
4
Corner
Public
CA0
23.00 x 97.00
0.05
No
Assessor
9000.00
143560.00
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Keller Williams Liberty Place
(609) 399-5454
Listed By:
Ryan J McManus · License PA RS316262
(610) 606-1095
Source:
Smartwayamerica
Added: Nov 8
Changed: Nov 11
Last Checked: Nov 11 at 11:12AM
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 Keller Williams Liberty Place
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Investment Insights
Based on property information with market context.
At 1654 Ridge Avenue, this 2018 mixed-use building contains 9,000 square feet across seven units, with operating commercial space at ground level. The residential mix includes four one-bedroom, one-bath apartments and two three-bedroom, three-and-a-half-bath penthouse units. Private balconies, individual roof decks and a shared roof deck provide outdoor areas for occupants.
The property occupies a corner site on Ridge Avenue in Philadelphia. CMX25 zoning is reported for the building, and the property is tenant occupied. The stated 6.75 cap rate and tax abatement expiring in 2028 are additional investment details.
The property occupies a corner site on Ridge Avenue in Philadelphia. CMX25 zoning is reported for the building, and the property is tenant occupied. The stated 6.75 cap rate and tax abatement expiring in 2028 are additional investment details.
Key Highlights
- 7‑unit mixed‑use property with operating ground‑floor commercial space
- 9,000 SF building, constructed in 2018
- Four 1bdx1ba apartments and two 3bdx3.5ba penthouse units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,566
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,831,320
$2.8M
Cap Rate 7%
$2,022,371
$2.0M
Cap Rate 9%
$1,572,956
$1.6M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$273.2K $30.36/SF
− Vacancy
−$15.8K −$1.76/SF
EGI
$257.4K $28.60/SF
− OpEx
−$115.8K −$12.87/SF
NOI
$141.6K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,831,320
Cap Rate 7%
$2,022,371
Cap Rate 9%
$1,572,956
Alternative Uses
Best Use
Apartment 5plus
$2.02M
$1.77M – $2.36M
NOI $141,566 @ 7.0% cap · market cap 5.90%
Second Best
Mixed Use
$1.53M
$1.34M – $1.78M
NOI $106,920 @ 7.0% cap · market cap 4.46%
Theoretical Best
Multifamily LT 5
$2.19M
$1.92M – $2.56M
NOI $153,584 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,748
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
$483,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Philadelphia, PA
Properties on Market for Mixed-use properties in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential apartments sit above operating ground-floor commercial space in a corner property zoned CMX25.
Where is this mixed-use property located?
The property is located at 1654 Ridge Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,399,999.
What are key features of this property?
This property features: 7‑unit mixed‑use property with operating ground‑floor commercial space; 9,000 SF building, constructed in 2018; Four 1bdx1ba apartments and two 3bdx3.5ba penthouse units
