Mixed-Use Grocery
For Sale
$225,000
2836 WHARTON STREET, Philadelphia, PA 19146
First-floor grocery with food license plus an upstairs residential unit with multiple bedrooms and living space.
Property Size1,374 SF
Price / SF$163.76
Days on Market123
Property Features for 2836 WHARTON STREET
General Information
Standard status
Active
Size
1,374 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
1925
Listing Agency:
Triamond Realty
(267) 243-1892
Listed By:
Suqing Fan · License #RS304225
(267) 243-1892
Source:
Cummingsrealtors
Added: Apr 29
Changed: Aug 28
Last Checked: Aug 28 at 11:39AM
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 Triamond Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes a grocery with an active food license on the first floor. The upper level features approximately five bedrooms, along with a large living area and an eat-in kitchen. Additional improvements noted include a large yard and a dry basement. The transaction involves separate deed and tax records for two mixed-use properties.
The seller notes the property is in a rapidly developing area with new construction nearby. It is described as being within minutes of Penn, CHOP, HUP, and Drexel University.
For tenants, buyers, or operators, the building offers an income-producing grocery use supported by a food license on the ground level, paired with residential space upstairs. This property is also stated to “must be sold with” 2838 Wharton Street, with both addresses sold together under one combined offering.
The seller notes the property is in a rapidly developing area with new construction nearby. It is described as being within minutes of Penn, CHOP, HUP, and Drexel University.
For tenants, buyers, or operators, the building offers an income-producing grocery use supported by a food license on the ground level, paired with residential space upstairs. This property is also stated to “must be sold with” 2838 Wharton Street, with both addresses sold together under one combined offering.
Key Highlights
- 1925‑built mixed‑use property with first‑floor grocery and an upstairs residential unit
- First floor at 2838 Wharton operates as an income‑producing grocery with a food license
- Upper floor features 5 bedrooms, large living area, and an eat‑in kitchen
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
$19,909
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
8.85%
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%
$398,180
$398.2K
Cap Rate 7%
$284,414
$284.4K
Cap Rate 9%
$221,211
$221.2K
Market Conditions
NOI Build-Up for 1,374 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
$28.9K $21.00/SF
− Vacancy
−$2.3K −$1.68/SF
EGI
$26.5K $19.32/SF
− OpEx
−$6.6K −$4.83/SF
NOI
$19.9K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$398,180
Cap Rate 7%
$284,414
Cap Rate 9%
$221,211
Alternative Uses
Best Use
Specialty Retail
$284.4K
$248.9K – $331.8K
NOI $19,909 @ 7.0% cap · market cap 8.85%
Second Best
Retail
$221.8K
$194.1K – $258.8K
NOI $15,529 @ 7.0% cap · market cap 6.90%
Theoretical Best
Multifamily LT 5
$335.0K
$293.1K – $390.8K
NOI $23,447 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,091
Businesses Nearby
82k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 47%
Home Improvements & Furnishings 2%
McDonald's
Dining
28,264 visits/mo
0.2 miles
Exxon
Shops & Services
17,460 visits/mo
0.4 miles
Dunkin' Donuts
Dining
13,476 visits/mo
0.4 miles
Dollar Tree
Shops & Services
10,920 visits/mo
0.3 miles
Conoco
Shops & Services
10,108 visits/mo
0.4 miles
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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?
Grocery and convenience store - First-floor grocery with food license plus an upstairs residential unit with multiple bedrooms and living space.
Where is this grocery and convenience store located?
The property is located at 2836 WHARTON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1925‑built mixed‑use property with first‑floor grocery and an upstairs residential unit; First floor at 2838 Wharton operates as an income‑producing grocery with a food license; Upper floor features 5 bedrooms, large living area, and an eat‑in kitchen
