Fully Leased Retail
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For Sale
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2743 South 3rd Street, Philadelphia, PA 19148
Whole-space retail offering with 100% leased occupancy.
Property Size43,038 SF
Price / SF$394
Days on Market6
Property Features for 2743 South 3rd Street
General Information
Standard status
Active
Size
43,038 SF
Property subtype
Retail, Mixed Use
Occupancy
100%
Listing Agency:
Global Hubs Realty Group, LLC
Listed By:
William Li · License #RM425899
Source:
Crexi
Added: Sep 5
Changed: Sep 9
Last Checked: Sep 10 at 7:53AM
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 Global Hubs Realty Group, LLC
Investment Insights
Based on property information with market context.
This 43,038-square-foot retail space is configured as a whole-space offering and is 100% leased. The property is located at 2743 South 3rd Street in Philadelphia, Pennsylvania 19148.
Key Highlights
- 43,038‑square‑foot retail space
- 100% leased occupancy
- Whole‑space retail offering
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
$486,424
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
2.86%
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%
$9,728,480
$9.7M
Cap Rate 7%
$6,948,914
$6.9M
Cap Rate 9%
$5,404,711
$5.4M
Market Conditions
NOI Build-Up for 43,038 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
$774.7K $18.00/SF
− Vacancy
−$79.8K −$1.85/SF
EGI
$694.9K $16.15/SF
− OpEx
−$208.5K −$4.84/SF
NOI
$486.4K $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%
$9,728,480
Cap Rate 7%
$6,948,914
Cap Rate 9%
$5,404,711
Alternative Uses
Best Use
Retail
$6.95M
$6.08M – $8.11M
NOI $486,424 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$10.49M
$9.18M – $12.24M
NOI $734,439 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
325k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 28%
Groceries 25%
Apparel 22%
Dining 20%
ShopRite
Groceries
52,654 visits/mo
0.1 miles
Burlington
Apparel
35,573 visits/mo
0.2 miles
McDonald's
Dining
29,276 visits/mo
0.1 miles
Aldi
Groceries
28,079 visits/mo
0.3 miles
Ross Dress for Less
Apparel
24,388 visits/mo
0.2 miles
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Whole-space retail offering with 100% leased occupancy.
Where is this retail space located?
The property is located at 2743 South 3rd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $17,000,000.
What are key features of this property?
This property features: 43,038‑square‑foot retail space; 100% leased occupancy; Whole‑space retail offering
