7-Unit Mixed-Use Investment
For Sale
$2,299,000
2414 Frankford Avenue, Philadelphia, PA 19125
Seven-unit building with six apartments over ground-floor retail, fully leased to Philadelphia Barber Co.
Property Size5,900 SF
Price / SF$389.66
Days on Market320
Property Features for 2414 Frankford Avenue
General Information
Standard status
Active
Size
5,900 SF
Property subtype
Multi-Family
Zoning
CMX2
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$1,650
Amenities
Natural Gas
Yes
No
Estimated
No Pool
Public
SC
29.00 x 87.00
0.06
Assessor
Concrete Perimeter
117900.00
Building Details
Building Size
5,900 SF
Year Built
2022
Stories
3
Tenancy
Multi
Listing Agency:
KW Empower
(856) 222-0077
Listed By:
Amanda Strain
(610) 679-0127
Source:
Thetristaterealestategroup
Added: Oct 22, 2025
Changed: Sep 5
Last Checked: Sep 5 at 5:22AM
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 KW Empower
Investment Insights
Based on property information with market context.
2414 Frankford Avenue is a fully leased, turnkey 7-unit investment property in a three-story building totaling approximately 15,900 SF. The residential component consists of six apartments: two bi-level units with 2 bedrooms and 2 bathrooms, and four 1-bedroom, 1-bath units. The ground-floor commercial space totals approximately 796 SF and is leased to Philadelphia Barber Co.
The property has about 29' of frontage along Frankford Avenue. The building sits on the Frankford Avenue corridor in Fishtown and is described as walkable to local destinations, including the Market-Frankford El train and various restaurants, retailers, cafes, and fitness options.
According to the public remarks, the offering includes a 10-year tax abatement.
The property has about 29' of frontage along Frankford Avenue. The building sits on the Frankford Avenue corridor in Fishtown and is described as walkable to local destinations, including the Market-Frankford El train and various restaurants, retailers, cafes, and fitness options.
According to the public remarks, the offering includes a 10-year tax abatement.
Key Highlights
- 2022‑built 3‑story, 7‑unit investment property at 2414 Frankford Avenue in Philadelphia’s Fishtown
- 29' frontage on Frankford Avenue and approximately 15,900 SF total building size
- Six apartments above ground‑floor retail: two 2BD/2BA bi‑level units and four 1BD/1BA units
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
$92,804
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
4.04%
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%
$1,856,080
$1.9M
Cap Rate 7%
$1,325,771
$1.3M
Cap Rate 9%
$1,031,156
$1.0M
Market Conditions
NOI Build-Up for 5,900 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
$179.1K $30.36/SF
− Vacancy
−$10.4K −$1.76/SF
EGI
$168.7K $28.60/SF
− OpEx
−$75.9K −$12.87/SF
NOI
$92.8K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,856,080
Cap Rate 7%
$1,325,771
Cap Rate 9%
$1,031,156
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,804 @ 7.0% cap · market cap 4.04%
Second Best
Retail
$952.6K
$833.5K – $1.11M
NOI $66,683 @ 7.0% cap · market cap 2.90%
Theoretical Best
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,683 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,772
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
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?
Apartment building - Seven-unit building with six apartments over ground-floor retail, fully leased to Philadelphia Barber Co.
Where is this apartment building located?
The property is located at 2414 Frankford Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: 2022‑built 3‑story, 7‑unit investment property at 2414 Frankford Avenue in Philadelphia’s Fishtown; 29' frontage on Frankford Avenue and approximately 15,900 SF total building size; Six apartments above ground‑floor retail: two 2BD/2BA bi‑level units and four 1BD/1BA units
