Storefront Property with Retail
For Sale
$1,850,000
2512-16 East Clearfield Street, Philadelphia, PA 19134
Open-span commercial space with CMX 2 zoning and direct access to multiple surrounding streets.
Property Size14,403 SF
Days on Market73
Property Features for 2512-16 East Clearfield Street
General Information
Standard status
Active
Size
14,403 SF
Property subtype
Retail
Zoning
CMX 2
Property Condition
Severity
Repairs Needed
Evidence
suffered a small fire
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial, retail
Amenities
garages
Building Details
Building Size
14,403 SF
Listed By:
Kenneth Malin
(267) 238-1711
Source:
Mpnrealty
Added: Jun 24
Changed: Aug 31
Last Checked: Aug 31 at 3:42PM
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 Kenneth Malin
Investment Insights
Based on property information with market context.
This storefront property includes an 8,550-square-foot building footprint with no interior columns beyond supports for a small mezzanine. The structure was originally developed as a theater and was most recently used as a pharmacy before a small fire led to relocation. CMX 2 zoning permits a range of retail uses by right.
An adjoining 5,750-square-foot lot is improved with 16 garages. Those structures may be removed for redevelopment or used to provide additional play or parking area. The combined property has frontage along Clearfield, Gaul, Commissioner, and Miller Streets, creating access from four streets. The site is in Port Richmond, just off I-95, with convenient highway connectivity to the surrounding Philadelphia area.
An adjoining 5,750-square-foot lot is improved with 16 garages. Those structures may be removed for redevelopment or used to provide additional play or parking area. The combined property has frontage along Clearfield, Gaul, Commissioner, and Miller Streets, creating access from four streets. The site is in Port Richmond, just off I-95, with convenient highway connectivity to the surrounding Philadelphia area.
Key Highlights
- 8,550‑square‑foot building footprint with no columns except mezzanine supports
- Adjacent 5,750‑square‑foot lot with 16 garages
- CMX 2 zoning allows multiple retail uses by right
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
$162,786
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
8.80%
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%
$3,255,720
$3.3M
Cap Rate 7%
$2,325,514
$2.3M
Cap Rate 9%
$1,808,733
$1.8M
Market Conditions
NOI Build-Up for 14,403 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
$259.3K $18.00/SF
− Vacancy
−$26.7K −$1.85/SF
EGI
$232.6K $16.15/SF
− OpEx
−$69.8K −$4.84/SF
NOI
$162.8K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /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%
$3,255,720
Cap Rate 7%
$2,325,514
Cap Rate 9%
$1,808,733
Alternative Uses
Best Use
Retail
$2.33M
$2.03M – $2.71M
NOI $162,786 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.51M
$3.07M – $4.10M
NOI $245,786 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,636
Businesses Nearby
45k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 15%
Electronics 10%
AutoZone
Shops & Services
13,511 visits/mo
0.4 miles
Sunoco
Shops & Services
11,637 visits/mo
0.4 miles
Sunoco
Shops & Services
6,772 visits/mo
0.4 miles
Philly Pretzel Factory
Dining
4,465 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
2,499 visits/mo
0.5 miles
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Open-span commercial space with CMX 2 zoning and direct access to multiple surrounding streets.
Where is this storefront property located?
The property is located at 2512-16 East Clearfield Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 8,550‑square‑foot building footprint with no columns except mezzanine supports; Adjacent 5,750‑square‑foot lot with 16 garages; CMX 2 zoning allows multiple retail uses by right
