Occupied Mixed-Use
New
For Sale
$725,000
219 W GIRARD AVENUE, Philadelphia, PA 19123
Street-level commercial space is paired with a leased apartment featuring updated interiors and a private rear deck.
Property Size1,840 SF
Days on Market5
Property Features for 219 W GIRARD AVENUE
General Information
Standard status
Active
Size
1,840 SF
Property subtype
MixedUse
Zoning
CMX-3
Occupancy
100%
Financials
Gross Income
$46,500
Average Monthly Rent
$2,225
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,746
Amenities
in-unit laundry
private rear deck
Building Details
Building Size
1,840 SF
Year Built
1905
Buildings
1
Tenancy
Multi
Listing Agency:
KW Empower
Listed By:
Carlos Masip · License #AB068852
(267) 456-0448
Source:
Patmckennarealtors
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 21 at 7:26AM
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 KW Empower
Investment Insights
Based on property information with market context.
Built in 1905, this CMX-3 mixed-use property combines a street-level commercial unit with an apartment above. The commercial space includes a restroom, office, and finished basement area and is occupied by a barbershop. The residential unit offers two bedrooms and one-and-a-half baths, along with an open layout, exposed brick, recessed lighting, updated flooring, a kitchen with stainless-steel appliances, in-unit laundry, and a private rear deck. Both components are leased through 2027, with the commercial lease extending through April 26 and the apartment lease through April 30.
The property is located at 219 W Girard Avenue in Philadelphia's Northern Liberties neighborhood, near 2nd Street and the Girard Avenue commercial corridor. Restaurants, retail, public transportation, and ongoing development are identified in the surrounding area.
The property is located at 219 W Girard Avenue in Philadelphia's Northern Liberties neighborhood, near 2nd Street and the Girard Avenue commercial corridor. Restaurants, retail, public transportation, and ongoing development are identified in the surrounding area.
Key Highlights
- CMX‑3 mixed‑use property at 219 W Girard Avenue, Philadelphia, PA 19123
- Built in 1905 with a street‑level commercial unit and apartment above
- Commercial unit includes a restroom, office, and finished basement space
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
$28,942
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
3.99%
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%
$578,840
$578.8K
Cap Rate 7%
$413,457
$413.5K
Cap Rate 9%
$321,578
$321.6K
Market Conditions
NOI Build-Up for 1,840 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
$55.9K $30.36/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$52.6K $28.60/SF
− OpEx
−$23.7K −$12.87/SF
NOI
$28.9K $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%
$578,840
Cap Rate 7%
$413,457
Cap Rate 9%
$321,578
Alternative Uses
Best Use
Apartment 5plus
$413.5K
$361.8K – $482.4K
NOI $28,942 @ 7.0% cap · market cap 3.99%
Second Best
Mixed Use
$312.3K
$273.2K – $364.3K
NOI $21,859 @ 7.0% cap · market cap 3.02%
Theoretical Best
Multifamily LT 5
$448.6K
$392.5K – $523.3K
NOI $31,399 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,494
Businesses Nearby
62k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 24%
Groceries 11%
Electronics 6%
McDonald's
Dining
23,463 visits/mo
0.2 miles
Fine Wine & Good Spirits
Groceries
6,966 visits/mo
0.3 miles
Wells Fargo
Shops & Services
5,966 visits/mo
0.1 miles
Jeni's Splendid Ice Creams
Dining
5,149 visits/mo
0.1 miles
The UPS Store
Shops & Services
4,184 visits/mo
0.4 miles
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
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 - Street-level commercial space is paired with a leased apartment featuring updated interiors and a private rear deck.
Where is this mixed-use property located?
The property is located at 219 W GIRARD AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: CMX‑3 mixed‑use property at 219 W Girard Avenue, Philadelphia, PA 19123; Built in 1905 with a street‑level commercial unit and apartment above; Commercial unit includes a restroom, office, and finished basement space
