Corner Mixed-Use Property with
New
For Sale
$389,900
2024 S 4TH Street, Philadelphia, PA 19148
Multi-Family, PHILADELPHIA, PA
Property Size1,740 SF
Lot Size0.03 Acres
Price / SF$224.08
Days on Market2
Property Features for 2024 S 4TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
1
Parking features
Garage - Attached
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,740 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3157
Utilities
Heating system
Baseboard, Electric (Heating)
Amenities
deck
Building Details
Year built
1920
Number of units
2
Building materials
Masonry
Listing Agency:
Triamond Realty
(267) 243-5317
Listed By:
Suqing Fan · License #RS304225
(267) 243-1892
Added: Sep 20
Last Checked: Sep 21 at 2:06AM
MLS# PAPH2672620
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 2024 S 4TH Street in Philadelphia, this 1,740-square-foot mixed-use property combines commercial and residential space within a masonry building constructed in 1920. The ground floor houses a long-standing grocery business, while the second floor contains an apartment with two bedrooms. A deck and attached one-car garage add functional features to the property.
The 0.0257-acre corner parcel is in Philadelphia County and carries MIXWD-USE zoning. The property includes baseboard and electric heating, offering an established combination of retail and residential components at a single address.
The 0.0257-acre corner parcel is in Philadelphia County and carries MIXWD-USE zoning. The property includes baseboard and electric heating, offering an established combination of retail and residential components at a single address.
Key Highlights
- 1,740‑square‑foot mixed‑use property on a 0.0257‑acre corner lot
- Ground‑floor grocery business with long‑standing operation
- Second‑floor apartment with two bedrooms and a deck
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
$27,369
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
7.02%
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%
$547,380
$547.4K
Cap Rate 7%
$390,986
$391.0K
Cap Rate 9%
$304,100
$304.1K
Market Conditions
NOI Build-Up for 1,740 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
$52.8K $30.36/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$49.8K $28.60/SF
− OpEx
−$22.4K −$12.87/SF
NOI
$27.4K $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 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%
$547,380
Cap Rate 7%
$390,986
Cap Rate 9%
$304,100
Alternative Uses
Best Use
Apartment 5plus
$391.0K
$342.1K – $456.2K
NOI $27,369 @ 7.0% cap · market cap 7.02%
Second Best
Specialty Retail
$360.2K
$315.2K – $420.2K
NOI $25,213 @ 7.0% cap · market cap 6.47%
Theoretical Best
Multifamily LT 5
$424.2K
$371.2K – $494.9K
NOI $29,693 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,112
Businesses Nearby
265k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Groceries 19%
Shops & Services 16%
Dining 14%
Target
Superstores
105,271 visits/mo
0.4 miles
ACME Markets
Groceries
34,436 visits/mo
0.4 miles
Dollar Tree
Shops & Services
19,192 visits/mo
0.3 miles
Fine Wine & Good Spirits
Groceries
15,125 visits/mo
0.5 miles
IHOP
Dining
13,934 visits/mo
0.4 miles
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Masonry building combines a ground-floor grocery business with an upstairs apartment and attached parking.
Where is this mixed-use property located?
The property is located at 2024 S 4TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 1,740‑square‑foot mixed‑use property on a 0.0257‑acre corner lot; Ground‑floor grocery business with long‑standing operation; Second‑floor apartment with two bedrooms and a deck
