Newly Renovated Mixed-Use Apartment
24042 E Girard Avenue Philadelphia, PA 19125
24042 E Girard Avenue, Philadelphia, PA, 19125
$2,100,000
For Sale
$2,100,000
Fee simple portfolio with newly renovated apartment units and corner commercial space currently occupied by a bar.
Property Size10,505 SF
Price / SF$199.90
Days on Market208
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 agency
TCS Management,LLC
Listed by
Alex C Prince
Source
Deepcreeklake
Added: Dec 26, 2025 Updated: Jul 10 at 1:50PM Checked: Jul 22 at 7:40AM
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.
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.
Key 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
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.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar For Sale Nearby
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
