Corner Auto Shop Development
For Sale
$125,000
2946 N Camac St, Philadelphia, PA 19133
Corner property formerly operating as an auto mechanic shop, offered as-is for redevelopment or continued automotive use.
Property Size1,102 SF
Price / SF$113.43
Days on Market51
Property Features for 2946 N Camac St
General Information
Standard status
Active
Size
1,102 SF
Building Details
Year Built
1925
Listing Agency:
KW Empower
Listed By:
Carol Boulos · License #2296584
(215) 627-3500
Source:
Kandorre
Added: Jul 21
Changed: Aug 14
Last Checked: Sep 8 at 9:50AM
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 KW Empower
Investment Insights
Based on property information with market context.
This corner mixed-use development site was formerly operated as a long-standing auto mechanic shop. The property is being sold strictly as-is, providing flexibility for buyers who want to demolish and redevelop or continue operating an automotive repair use, subject to whatever requirements apply.
The location is positioned along a heavily traveled stretch of North Philadelphia and near major public transportation, with access to one of the area’s busiest intersections. The property’s visibility and corner positioning support a range of commercial and mixed-use redevelopment concepts.
For buyers seeking an infill project in an active commercial corridor, this site offers a straightforward path to redevelopment with the option to pivot to automotive operations on an as-is basis.
The location is positioned along a heavily traveled stretch of North Philadelphia and near major public transportation, with access to one of the area’s busiest intersections. The property’s visibility and corner positioning support a range of commercial and mixed-use redevelopment concepts.
For buyers seeking an infill project in an active commercial corridor, this site offers a straightforward path to redevelopment with the option to pivot to automotive operations on an as-is basis.
Key Highlights
- 1925 corner mixed‑use property formerly operating as an auto mechanic shop
- Offered as‑is for redevelopment or for continued automotive use
- Property is situated on a heavily traveled North Philadelphia commercial corridor near major public transportation and a busy intersection
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
$8,090
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
6.47%
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%
$161,800
$161.8K
Cap Rate 7%
$115,571
$115.6K
Cap Rate 9%
$89,889
$89.9K
Market Conditions
NOI Build-Up for 1,102 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
$12.6K $11.40/SF
− Vacancy
−$1.0K −$0.91/SF
EGI
$11.6K $10.49/SF
− OpEx
−$3.5K −$3.15/SF
NOI
$8.1K $7.34/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$11.40 /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%
$161,800
Cap Rate 7%
$115,571
Cap Rate 9%
$89,889
Alternative Uses
Best Use
Retail
$177.9K
$155.7K – $207.6K
NOI $12,455 @ 7.0% cap · market cap 9.96%
Second Best
Industrial
$115.6K
$101.1K – $134.8K
NOI $8,090 @ 7.0% cap · market cap 6.47%
Theoretical Best
Multifamily LT 5
$268.7K
$235.1K – $313.4K
NOI $18,806 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,565
Businesses Nearby
120k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 31%
Groceries 13%
Apparel 4%
McDonald's
Dining
23,953 visits/mo
0.2 miles
Sunoco
Shops & Services
13,378 visits/mo
0.5 miles
Speedway
Shops & Services
13,312 visits/mo
0.2 miles
Wells Fargo
Shops & Services
12,653 visits/mo
0.3 miles
Burger King
Dining
11,767 visits/mo
0.5 miles
Demographics for 19133, PA
24,772
Population
10,766
Households
2.3
Avg Household Size
34
Median Age
7%
College-Educated
63%
High-School Grad
1.3 sq mi
ZIP Area
19,055
Density / Sq Mi
$31,756
Median Household Income
$26,563
Median Earnings
$919
Median Rent
$85,100
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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- Custom Complete Auto Repair — 2444 Germantown Ave, Philadelphia, PA 19133
Frequently Asked Questions
What type of property is this?
Auto shop - Corner property formerly operating as an auto mechanic shop, offered as-is for redevelopment or continued automotive use.
Where is this auto shop located?
The property is located at 2946 N Camac St Philadelphia, PA.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 1925 corner mixed‑use property formerly operating as an auto mechanic shop; Offered as‑is for redevelopment or for continued automotive use; Property is situated on a heavily traveled North Philadelphia commercial corridor near major public transportation and a busy intersection
