Mixed-Use Triplex with Ground-Floor
For Sale
$999,999
2405 Ridge Avenue, Philadelphia, PA 19121
New construction mixed-use triplex with ground-floor commercial space and two residential units featuring in-unit laundry.
Property Size5,000 SF
Price / SF$199
Days on Market457
Property Features for 2405 Ridge Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Lease Term
[]
Units
Multifamily Units
2
Office Units
1
Building Details
Year Built
2025
Stories
4
Listing Agency:
Keller Williams Real Estate-Blue Bell
(267) 625-7568
Listed By:
Sharyn Soliman · License #RS330729
Source:
Deepcreeklake
Added: May 31, 2025
Changed: Aug 27
Last Checked: Aug 30 at 6:03PM
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 Keller Williams Real Estate-Blue Bell
Investment Insights
Based on property information with market context.
This newly constructed mixed-use triplex consists of three units with contemporary finishes and flexible layouts. The ground-floor commercial space features a sleek, open-concept interior with large windows and a clean modern buildout suitable for retail, office, or studio use. The second-floor residence is a two-bedroom, two-bath apartment with an open kitchen, white shaker cabinets, granite countertops, a full stainless steel appliance package, and a tile backsplash. Light wood-style flooring, recessed lighting, and oversized windows carry through the living areas, and the unit includes a washer/dryer.
Located at 2405 Ridge Avenue in the Brewerytown neighborhood, the storefront benefits from high visibility and foot traffic along Ridge Avenue. The upper-level configuration spans the third and fourth floors, creating a bi-level layout.
The third- and fourth-floor unit offers four bedrooms and four full bathrooms, with each bedroom providing access to a private or dedicated bathroom. The open living and dining area flows into a modern kitchen with high-end finishes, and a washer/dryer is included. The property presents a practical live-and-work setup for tenants who want dedicated residential space alongside a street-level commercial storefront currently marketed at $2,500 per month, with the second-floor and upper bi-level residences currently marketed at $1,700 and $2,500 per month, respectively.
Located at 2405 Ridge Avenue in the Brewerytown neighborhood, the storefront benefits from high visibility and foot traffic along Ridge Avenue. The upper-level configuration spans the third and fourth floors, creating a bi-level layout.
The third- and fourth-floor unit offers four bedrooms and four full bathrooms, with each bedroom providing access to a private or dedicated bathroom. The open living and dining area flows into a modern kitchen with high-end finishes, and a washer/dryer is included. The property presents a practical live-and-work setup for tenants who want dedicated residential space alongside a street-level commercial storefront currently marketed at $2,500 per month, with the second-floor and upper bi-level residences currently marketed at $1,700 and $2,500 per month, respectively.
Key Highlights
- New construction mixed‑use triplex built in 2025 totaling 5,000 SF
- Ground‑floor commercial space with an open‑concept layout and large windows; storefront listed at $2,500/month
- Second‑floor 2 bed/2 bath apartment with in‑unit washer/dryer and stainless appliance package; listed at $1,700/month
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
$85,324
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
8.53%
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%
$1,706,480
$1.7M
Cap Rate 7%
$1,218,914
$1.2M
Cap Rate 9%
$948,044
$948.0K
Market Conditions
NOI Build-Up for 5,000 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
$129.0K $25.80/SF
− Vacancy
−$7.1K −$1.42/SF
EGI
$121.9K $24.38/SF
− OpEx
−$36.6K −$7.31/SF
NOI
$85.3K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,706,480
Cap Rate 7%
$1,218,914
Cap Rate 9%
$948,044
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,324 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$1.12M
$983.1K – $1.31M
NOI $78,648 @ 7.0% cap · market cap 7.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,535
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - New construction mixed-use triplex with ground-floor commercial space and two residential units featuring in-unit laundry.
Where is this triplex located?
The property is located at 2405 Ridge Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: New construction mixed‑use triplex built in 2025 totaling 5,000 SF; Ground‑floor commercial space with an open‑concept layout and large windows; storefront listed at $2,500/month; Second‑floor 2 bed/2 bath apartment with in‑unit washer/dryer and stainless appliance package; listed at $1,700/month
