Mixed-Use Property with
For Sale
$225,000
2838 Wharton St, Philadelphia, PA 19146
Grocery operations occupy the ground floor, with residential space and a yard above and behind the building.
Property Size1,374 SF
Price / SF$163.76
Days on Market13
Property Features for 2838 Wharton St
General Information
Standard status
Active
Size
1,374 SF
Financials
Asking Price
$449,900
Business Included
Yes
Amenities
large yard
dry basement
Building Details
Year Built
1925
Buildings
2
Listing Agency:
Triamond Realty
(267) 243-1892
Listed By:
Suqing Fan · License #RS304225
Source:
Kandorre
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 28 at 1:01PM
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 at 2838 Wharton St. was built in 1925 and contains 1,374 square feet. The first floor operates as a grocery business with a food license. Upper-level space includes five bedrooms, a large living area, and an eat-in kitchen. A dry basement and large yard add functional support space.
The property is in Philadelphia and sits within minutes of Penn, CHOP, HUP, and Drexel University. The offering also includes a separate-deed property at 2836 Wharton St., which is required to be sold together with 2838 Wharton St.
The property is in Philadelphia and sits within minutes of Penn, CHOP, HUP, and Drexel University. The offering also includes a separate-deed property at 2836 Wharton St., which is required to be sold together with 2838 Wharton St.
Key Highlights
- Ground‑floor grocery business with food license
- Five‑bedroom upper‑level residential layout
- 1,374 square feet built in 1925
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
Mixed Use
$233.2K
$204.0K – $272.1K
NOI $16,323 @ 7.0% cap · market cap 7.25%
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
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?
Mixed-use property - Grocery operations occupy the ground floor, with residential space and a yard above and behind the building.
Where is this mixed-use property located?
The property is located at 2838 Wharton St 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: Ground‑floor grocery business with food license; Five‑bedroom upper‑level residential layout; 1,374 square feet built in 1925
