Mixed-Use Triplex with
For Sale
$999,999
2405 RIDGE Avenue, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size5,000 SF
Lot Size0.03 Acres
Price / SF$199
Days on Market85
Property Features for 2405 RIDGE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Parking features
On Street
Subdivision
BREWERYTOWN
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
685
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2025
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Real Estate-Blue Bell · Keller Williams Realty
(215) 646-2900
Listed By:
Sharyn Soliman · License #RS330729
(267) 625-7568
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 31 at 7:06PM
MLS# PAPH2631380
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,000-square-foot masonry triplex combines residential accommodations with a commercial component. The ground level provides an open storefront with large windows and a flexible interior suited to retail, office, or studio use. Above it, the second-floor apartment offers two bedrooms and two full bathrooms, while the bi-level third- and fourth-floor residence includes four bedrooms and four full bathrooms. Both residential units feature modern kitchens, in-unit washer and dryer access, and natural-light-oriented layouts.
The property is located on Ridge Avenue in Philadelphia’s Brewerytown neighborhood, with on-street parking and commercial zoning. Building systems include forced-air heating and central air conditioning. The property’s recorded year built is 2025.
The property is located on Ridge Avenue in Philadelphia’s Brewerytown neighborhood, with on-street parking and commercial zoning. Building systems include forced-air heating and central air conditioning. The property’s recorded year built is 2025.
Key Highlights
- 5,000‑square‑foot masonry mixed‑use triplex
- Ground‑floor open storefront with large windows
- Two‑bedroom, two‑bath second‑floor apartment
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
3
Residential units
Multi-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - 2025 commercial-zoned property combines two residential units with flexible ground-floor business space.
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: 5,000‑square‑foot masonry mixed‑use triplex; Ground‑floor open storefront with large windows; Two‑bedroom, two‑bath second‑floor apartment
