Adaptive Reuse Warehouse
For Sale
$1,395,000
183545 W Oxford Street, Philadelphia, PA 19121
Planned CMX2 adaptive reuse project featuring 14 bi-level residential units and 11 commercial basement spaces.
Property Size15,565 SF
Price / SF$89.62
Days on Market791
Property Features for 183545 W Oxford Street
General Information
Standard status
Active
Size
15,565 SF
Property subtype
Commercial
Zoning
CMX2
Additional Details
Multifamily Units
14
Building Details
Year Built
1940
Listing Agency:
Compass RE
Listed By:
Inayah Hart
Source:
Deepcreeklake
Added: Jun 7, 2024
Changed: Jul 10
Last Checked: Aug 6 at 4:18AM
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 Compass RE
Investment Insights
Based on property information with market context.
This offering contemplates the adaptive reuse of an existing historic industrial warehouse for a loft-style conversion. The plan includes 14 bi-level one-bedroom residential units alongside 11 commercial spaces located in the basement, with rooftop amenities included for residents. The concept emphasizes loft characteristics such as large windows, high ceilings, and open layouts intended to preserve an industrial feel while creating separate living and commercial components.
The project is identified as Oxford Street Lofts and is proposed at 1835-45 W Oxford Street in Philadelphia, PA 19121. The site is represented as being within the CMX2 zoning district. The project materials reference the Sharswood, Francisville, and Brewery Town areas as the surrounding context for this urban redevelopment concept.
For developers, this configuration presents a mixed residential-and-commercial conversion approach under CMX2, with residential unit programming supported by rooftop amenities and commercial space allocated in the basement. The planned split between the 14 residential units and the 11 commercial spaces may be appealing to operators seeking a dual-use building design while maintaining a warehouse-based loft aesthetic defined by large windows and high ceilings.
The project is identified as Oxford Street Lofts and is proposed at 1835-45 W Oxford Street in Philadelphia, PA 19121. The site is represented as being within the CMX2 zoning district. The project materials reference the Sharswood, Francisville, and Brewery Town areas as the surrounding context for this urban redevelopment concept.
For developers, this configuration presents a mixed residential-and-commercial conversion approach under CMX2, with residential unit programming supported by rooftop amenities and commercial space allocated in the basement. The planned split between the 14 residential units and the 11 commercial spaces may be appealing to operators seeking a dual-use building design while maintaining a warehouse-based loft aesthetic defined by large windows and high ceilings.
Key Highlights
- CMX2 zoning adaptive reuse project featuring 14 bi‑level 1‑bedroom residential units
- Planned conversion of a historic industrial warehouse into loft‑style apartments
- Total planned space: 7,667 SF first‑floor residential plus 7,667 SF basement and 231 SF rooftop amenities
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
$114,272
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
8.19%
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%
$2,285,440
$2.3M
Cap Rate 7%
$1,632,457
$1.6M
Cap Rate 9%
$1,269,689
$1.3M
Market Conditions
NOI Build-Up for 15,565 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
$177.4K $11.40/SF
− Vacancy
−$14.2K −$0.91/SF
EGI
$163.2K $10.49/SF
− OpEx
−$49.0K −$3.15/SF
NOI
$114.3K $7.34/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$11.40 /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%
$2,285,440
Cap Rate 7%
$1,632,457
Cap Rate 9%
$1,269,689
Alternative Uses
Best Use
Apartment 5plus
$3.50M
$3.06M – $4.08M
NOI $244,830 @ 7.0% cap · market cap 17.55%
Second Best
Flex RnD
$2.34M
$2.05M – $2.73M
NOI $163,899 @ 7.0% cap · market cap 11.75%
Theoretical Best
Multifamily LT 5
$3.79M
$3.32M – $4.43M
NOI $265,615 @ 7.0% cap · market cap 19.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Industrial in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Planned CMX2 adaptive reuse project featuring 14 bi-level residential units and 11 commercial basement spaces.
Where is this apartment building located?
The property is located at 183545 W Oxford Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: CMX2 zoning adaptive reuse project featuring 14 bi‑level 1‑bedroom residential units; Planned conversion of a historic industrial warehouse into loft‑style apartments; Total planned space: 7,667 SF first‑floor residential plus 7,667 SF basement and 231 SF rooftop amenities
