Mixed-Use Triplex with
For Sale
$550,000
Pending
2804 West Girard Avenue, Philadelphia, PA 19130
Three-unit property combines a street-facing commercial space with two residential apartments along Girard Avenue’s commercial corridor.
Property Size3,084 SF
Days on Market207
Property Features for 2804 West Girard Avenue
General Information
Standard status
Pending
Size
3,084 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
CMX25
Property Condition
Severity
Repairs Needed
Evidence
mid-rehab
Taxes and HOA fees
Annual Taxes
$7,381
Amenities
Grab Bars Mod
No Pool
Above Grade
Building Details
Year Built
1915
Listing Agency:
EXP Realty, LLC
(484) 429-6025
Listed By:
Guillermo Salas III · License #AB067011
(484) 429-6025
Source:
Compass
Added: Feb 5
Changed: Aug 30
Last Checked: Aug 31 at 1:46AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 3,084-square-foot mixed-use triplex includes one street-level commercial unit and two residential apartments. The storefront is occupied by a retail tenant under a month-to-month lease. The residential layout comprises a 2-bedroom, 2-bathroom apartment and a 1-bedroom, 1-bathroom apartment; both residential units are substantially complete but require remaining finishes and are currently vacant.
Built in 1915, the property is zoned CMX25 and is being sold AS-IS following a mid-rehabilitation bank takeover. The buyer will be responsible for obtaining Use & Occupancy certification and completing any required inspections or permits. The address is situated along the Girard Avenue commercial corridor in Philadelphia, with access to public transportation and proximity to major redevelopment areas.
Built in 1915, the property is zoned CMX25 and is being sold AS-IS following a mid-rehabilitation bank takeover. The buyer will be responsible for obtaining Use & Occupancy certification and completing any required inspections or permits. The address is situated along the Girard Avenue commercial corridor in Philadelphia, with access to public transportation and proximity to major redevelopment areas.
Key Highlights
- 3,084‑square‑foot mixed‑use triplex at 2804 West Girard Avenue, Philadelphia, PA 19130
- One street‑level commercial unit plus two residential apartments
- Residential mix includes 2‑Bedroom / 2‑Bathroom and 1‑Bedroom / 1‑Bathroom 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
$48,510
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
8.82%
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%
$970,200
$970.2K
Cap Rate 7%
$693,000
$693.0K
Cap Rate 9%
$539,000
$539.0K
Market Conditions
NOI Build-Up for 3,084 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
$93.6K $30.36/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$88.2K $28.60/SF
− OpEx
−$39.7K −$12.87/SF
NOI
$48.5K $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%
$970,200
Cap Rate 7%
$693,000
Cap Rate 9%
$539,000
Alternative Uses
Best Use
Multifamily LT 5
$751.8K
$657.9K – $877.1K
NOI $52,628 @ 7.0% cap · market cap 9.57%
Second Best
Apartment 5plus
$693.0K
$606.4K – $808.5K
NOI $48,510 @ 7.0% cap · market cap 8.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,534
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
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?
Mixed-use property - Three-unit property combines a street-facing commercial space with two residential apartments along Girard Avenue’s commercial corridor.
Where is this mixed-use property located?
The property is located at 2804 West Girard Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,084‑square‑foot mixed‑use triplex at 2804 West Girard Avenue, Philadelphia, PA 19130; One street‑level commercial unit plus two residential apartments; Residential mix includes 2‑Bedroom / 2‑Bathroom and 1‑Bedroom / 1‑Bathroom units
