Newly Renovated Mixed-Use Apartment
24042 E Girard Avenue, Philadelphia, PA 19125
Fee simple portfolio with newly renovated apartment units and corner commercial space currently occupied by a bar.
Type:Multi-family
Property size:
10,505 SFPrice / SF:
$199/SF- Added:
- Jan 26, 2026
- Days on Market:
- 132
- Last Refresh:
- Jun 6 at 3:02 am
Property Features for 24042 E Girard Avenue
General Information
- Standard status
- Active
- Size
- 10,505 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1915
Listing agent Alex C Prince
Listing office TCS Management,LLC
Listing date Jan 26, 2026
Source Deepcreeklake
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
HighLights
- Fee simple portfolio of two newly renovated mixed‑use apartment buildings in Philadelphia’s Fishtown neighborhood
- Unit mix: (14) one‑bedroom units and (1) two‑bedroom unit, with high‑end finishes including stainless steel appliances, stone countertops, LVT flooring, subway tile backsplash, and white shaker‑style cabinetry
- Residential units include central HVAC, in‑unit washer/dryer, and oversized windows
- Corner commercial space at 2301 Frankford Avenue: 1,398 SF currently occupied by Cormorant Corner Bar
- Corner commercial spaces on well‑located corners within the Fishtown retail corridors on Frankford Avenue and Girard Avenue
- Transit‑oriented access: minutes from I‑76, I‑676, and I‑95, with SEPTA stations at Girard Avenue and Dauphin Street a short walk on the Market‑Frankford Train Line
Overview
This fee simple portfolio includes two newly renovated mixed-use apartment buildings: 2301 Frankford Avenue and 240 E. Girard Avenue. The residential mix totals 14 one-bedroom units and 1 two-bedroom unit. Unit interiors feature stainless steel appliances, stone countertops, LVT flooring, subway tile backsplashes, and white shaker-style cabinetry, along with central HVAC and in-unit washer/dryer. Apartments also include oversized windows.
The commercial component is located on well-located corners. The 1,398-square-foot unit at 2301 Frankford Avenue is occupied by Cormorant Corner Bar, offering craft beer and cocktails to neighborhood patrons. The portfolio is transit-oriented, with convenient access to major thoroughfares including I-76, I-676, and I-95. SEPTA train stations at Girard Avenue and Dauphin Street are described as a short walk, providing commuter connectivity via the Market-Frankford Train Line.
For tenants, the buildings provide in-unit laundry and central heating and cooling, along with contemporary finishes in a mixed-use setting on active retail corridors in Fishtown. For buyers and operators, the portfolio offers a combined residential and corner retail opportunity, with the Frankford Avenue commercial space currently occupied and supported by a neighborhood retail presence.
The commercial component is located on well-located corners. The 1,398-square-foot unit at 2301 Frankford Avenue is occupied by Cormorant Corner Bar, offering craft beer and cocktails to neighborhood patrons. The portfolio is transit-oriented, with convenient access to major thoroughfares including I-76, I-676, and I-95. SEPTA train stations at Girard Avenue and Dauphin Street are described as a short walk, providing commuter connectivity via the Market-Frankford Train Line.
For tenants, the buildings provide in-unit laundry and central heating and cooling, along with contemporary finishes in a mixed-use setting on active retail corridors in Fishtown. For buyers and operators, the portfolio offers a combined residential and corner retail opportunity, with the Frankford Avenue commercial space currently occupied and supported by a neighborhood retail presence.
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 | $318.9k | $30.36 |
| − Vacancy | −$18.5k | −$1.76 |
| EGI | $300.4k | $28.60 |
| − OpEx | −$135.2k | −$12.87 |
| NOI | $165.2k | $15.73 |
10,505 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.07M – $2.75M
NOI $165,239 @ 7.0% cap · market cap 7.87%
Second Best
Specialty Retail
$2.17M
$1.90M – $2.54M
NOI $152,217 @ 7.0% cap · market cap 7.25%
Theoretical Best
Multifamily LT 5
$2.56M
$2.24M – $2.99M
NOI $179,267 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Bars & Pubs
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.256032
- Latitude
- 39.974107
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fee simple portfolio with newly renovated apartment units and corner commercial space currently occupied by a bar.
Where is this apartment building located?
The property is located at 24042 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 in Philadelphia’s Fishtown neighborhood; Unit mix: (14) one‑bedroom units and (1) two‑bedroom unit, with high‑end finishes including stainless steel appliances, stone countertops, LVT flooring, subway tile backsplash, and white shaker‑style cabinetry; Residential units include central HVAC, in‑unit washer/dryer, and oversized windows
