Mixed-Use Building with Roof
For Sale
$389,900
2024 South 4th Street, Philadelphia, PA 19148
Corner property combining a grocery storefront, residential apartment, garage, and outdoor roof space.
Property Size1,740 SF
Price / SF$224.08
Days on Market214
Property Features for 2024 South 4th Street
General Information
Standard status
Active
Size
1,740 SF
Total Parking Spaces
1
Property subtype
Multi-Family / Fee Simple
Zoning
CMX1
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$3,157
Amenities
1-car garage
roof deck
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
Triamond Realty
Listed By:
Suqing Fan · License #RS304225
(267) 243-1892
Source:
Compass
Added: Feb 1
Changed: Sep 2
Last Checked: Aug 30 at 8:32PM
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 Triamond Realty
Investment Insights
Based on property information with market context.
This 1,740 SF corner mixed-use building combines commercial and residential components. The first floor contains a grocery operation with daily grocery offerings, lottery sales, game play machines, and cold food service. A two-bedroom apartment occupies the second floor, with two large bedrooms. The property also includes a one-car garage and roof deck.
Located at 2024 South 4th Street in Philadelphia, the building is within the 19148 MLS area and carries CMX1 mixed-use zoning. The 1920 construction includes above-grade and below-grade space, providing a compact configuration for combined storefront and apartment use.
Located at 2024 South 4th Street in Philadelphia, the building is within the 19148 MLS area and carries CMX1 mixed-use zoning. The 1920 construction includes above-grade and below-grade space, providing a compact configuration for combined storefront and apartment use.
Key Highlights
- 1,740 SF mixed‑use corner building at 2024 South 4th Street
- First‑floor grocery operation with lottery, game play machines, and cold food
- Second‑floor apartment with 2 large bedrooms
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
$25,213
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
6.47%
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%
$504,260
$504.3K
Cap Rate 7%
$360,186
$360.2K
Cap Rate 9%
$280,144
$280.1K
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
$36.5K $21.00/SF
− Vacancy
−$2.9K −$1.68/SF
EGI
$33.6K $19.32/SF
− OpEx
−$8.4K −$4.83/SF
NOI
$25.2K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$504,260
Cap Rate 7%
$360,186
Cap Rate 9%
$280,144
Alternative Uses
Best Use
Specialty Retail
$360.2K
$315.2K – $420.2K
NOI $25,213 @ 7.0% cap · market cap 6.47%
Second Best
Mixed Use
$295.3K
$258.4K – $344.5K
NOI $20,671 @ 7.0% cap · market cap 5.30%
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
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,412
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 67%
Electronics 23%
Shops & Services 11%
Grocery Outlet Bargain Market
Groceries
9,949 visits/mo
0.2 miles
Boost Mobile
Electronics
3,365 visits/mo
0.5 miles
CubeSmart Self Storage
Shops & Services
1,571 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
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combining a grocery storefront, residential apartment, garage, and outdoor roof space.
Where is this mixed-use property located?
The property is located at 2024 South 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 SF mixed‑use corner building at 2024 South 4th Street; First‑floor grocery operation with lottery, game play machines, and cold food; Second‑floor apartment with 2 large bedrooms
