Mixed-Use Building Under
New
For Sale
$100,000
2703 W 3rd St, Chester, PA 19013
Interior framing had begun for a layout combining apartments with storefront space.
Property Size500 SF
Price / SF$200
Days on Market7
Property Features for 2703 W 3rd St
General Information
Standard status
Active
Size
500 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
gutted down to the studs
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
No
Building Details
Year Built
1934
Listing Agency:
Real Broker, LLC
Listed By:
Benjamin Vincent Ellis III
(856) 335-5599
Source:
Baltimoreharfordhomesforsale
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 7 at 12:59PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Built in 1934, the property was previously used as a storefront church and has been stripped to its framing. Work had started on a proposed mixed-use configuration with two two-bedroom apartments and storefront space; an efficiency apartment was also being considered. The improvements remain unfinished, and utilities are not currently on at the property.
Any intended use is subject to the buyer’s due diligence, including obtaining required approvals from the City of Chester.
Any intended use is subject to the buyer’s due diligence, including obtaining required approvals from the City of Chester.
Key Highlights
- 1934 construction
- Interior removed to the studs, with framing begun for a proposed mixed‑use layout
- Proposed configuration includes two 2‑bedroom apartments and storefront space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,012
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$100,240
$100.2K
Cap Rate 7%
$71,600
$71.6K
Cap Rate 9%
$55,689
$55.7K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$10.6K $21.12/SF
− Vacancy
−$1.4K −$2.89/SF
EGI
$9.1K $18.23/SF
− OpEx
−$4.1K −$8.20/SF
NOI
$5.0K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$100,240
Cap Rate 7%
$71,600
Cap Rate 9%
$55,689
Alternative Uses
Best Use
Apartment 5plus
$71.6K
$62.7K – $83.5K
NOI $5,012 @ 7.0% cap · market cap 5.01%
Second Best
Mixed Use
$70.7K
$61.9K – $82.5K
NOI $4,950 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$151.6K
$132.7K – $176.9K
NOI $10,612 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 19013, PA
34,252
Population
15,664
Households
2.2
Avg Household Size
34
Median Age
13%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
6,116
Density / Sq Mi
$39,416
Median Household Income
$31,668
Median Earnings
$1,083
Median Rent
$85,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Interior framing had begun for a layout combining apartments with storefront space.
Where is this mixed-use property located?
The property is located at 2703 W 3rd St Chester, PA.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: 1934 construction; Interior removed to the studs, with framing begun for a proposed mixed‑use layout; Proposed configuration includes two 2‑bedroom apartments and storefront space
