Mixed-Use Apartment
240 E Girard Avenue Philadelphia, PA 19125
240 E Girard Avenue, Philadelphia, PA, 19125
$2,100,000
For Sale
$2,100,000
Fee-simple portfolio of two newly renovated mixed-use apartment buildings with ground-floor corner retail and 15 residential units.
Property Size7,878 SF
Price / SF$266.57
Days on Market135
Property Features for 240 E Girard Avenue
General Information
- Standard status
- Active
- Size
- 7,878 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1915
Listing agency
TCS Management, LLC
(215) 431-5652
Listed by
Alex Prince · License #RS322309
(215) 431-5652
Source
Xome
Added: Mar 8 Updated: Jul 20 at 7:02PM Checked: Jul 21 at 3:53AM
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 TCS Management, LLC
Investment Insights
Based on property information with market context.
Available as a fee-simple package, this portfolio includes two newly renovated mixed-use apartment buildings at 2301 Frankford Avenue and 240 E. Girard Avenue. The residential component consists of 14 one-bedroom units and 1 two-bedroom unit, finished with stainless steel appliances, stone countertops, LVT flooring, subway tile backsplashes, and sleek white shaker-style cabinetry. Unit features include central HVAC, in-unit washer/dryer, and oversized windows.
The commercial spaces are located on well-located corners. The 1,398-square-foot unit at 2301 Frankford Avenue is occupied by Cormorant Corner Bar, a neighborhood establishment offering craft beer and cocktails.
The portfolio is transit-oriented, with SEPTA train stations at Girard Avenue and Dauphin Street described as a short walk. It is also positioned minutes from major thoroughfares including I-76, I-676, and I-95, providing convenient access to the Philadelphia MSA.
The commercial spaces are located on well-located corners. The 1,398-square-foot unit at 2301 Frankford Avenue is occupied by Cormorant Corner Bar, a neighborhood establishment offering craft beer and cocktails.
The portfolio is transit-oriented, with SEPTA train stations at Girard Avenue and Dauphin Street described as a short walk. It is also positioned minutes from major thoroughfares including I-76, I-676, and I-95, providing convenient access to the Philadelphia MSA.
Key Highlights
- Fee‑simple portfolio of two newly renovated mixed‑use apartment buildings at 2301 Frankford Avenue and 240 E. Girard Avenue
- Total of 15 residential units: fourteen 1‑bedroom units and one 2‑bedroom unit
- Ground‑floor corner retail included; 2301 Frankford Avenue unit is occupied by Cormorant Corner Bar
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $239.2k | $30.36 |
| − Vacancy | −$13.9k | −$1.76 |
| EGI | $225.3k | $28.60 |
| − OpEx | −$101.4k | −$12.87 |
| NOI | $123.9k | $15.73 |
7,878 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.07M
NOI $123,917 @ 7.0% cap · market cap 5.90%
Second Best
Specialty Retail
$1.63M
$1.43M – $1.90M
NOI $114,152 @ 7.0% cap · market cap 5.44%
Theoretical Best
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,437 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fee-simple portfolio of two newly renovated mixed-use apartment buildings with ground-floor corner retail and 15 residential units.
Where is this mixed-use property located?
The property is located at 240 E Girard Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Fee‑simple portfolio of two newly renovated mixed‑use apartment buildings at 2301 Frankford Avenue and 240 E. Girard Avenue; Total of 15 residential units: fourteen 1‑bedroom units and one 2‑bedroom unit; Ground‑floor corner retail included; 2301 Frankford Avenue unit is occupied by Cormorant Corner Bar
