Mixed-Use Building with
For Sale
$950,000
2981 2981-5 Frankford Ave, Philadelphia, PA 19134
Double-wide, three-story mixed-use building with a storefront, garage space, and six apartments plus a laundromat.
Property Size4,965 SF
Price / SF$191.34
Days on Market93
Property Features for 2981 2981-5 Frankford Ave
General Information
Standard status
Active
Size
4,965 SF
Building Details
Year Built
1915
Listing Agency:
Liberty Real Estate
Listed By:
Richard Q Li · License #RM421130
(267) 767-7612
Source:
Kandorre
Added: Jul 21
Changed: Oct 5
Last Checked: Oct 20 at 10:56PM
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 Liberty Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale package includes three components: a double-wide, three-story mixed-use building with a storefront, a garage, and six apartments; a double-wide vacant building lot sized 35x82 that is ready to be developed or converted to a parking area; and a laundromat operating on-site.
The building features a storefront and two-car garages on the south side. The laundromat is described as having close to 40 washers and dryers, with some units characterized as very new and powerful, and the business noted as having been in place for a long time with an established customer pool.
Overall, the offering combines residential income from the apartments with an established retail/laundry use, alongside additional land that can support future development or parking needs, depending on the buyer’s plan.
The building features a storefront and two-car garages on the south side. The laundromat is described as having close to 40 washers and dryers, with some units characterized as very new and powerful, and the business noted as having been in place for a long time with an established customer pool.
Overall, the offering combines residential income from the apartments with an established retail/laundry use, alongside additional land that can support future development or parking needs, depending on the buyer’s plan.
Key Highlights
- 1915‑built double‑wide, three‑story mixed‑use building with a storefront
- Includes garage space and 6 apartments
- On‑site laundromat with close to 40 washers and dryers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,097
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,561,940
$1.6M
Cap Rate 7%
$1,115,671
$1.1M
Cap Rate 9%
$867,744
$867.7K
Market Conditions
NOI Build-Up for 4,965 SF
Gross rent
$150.7K $30.36/SF
− Vacancy
−$8.7K −$1.76/SF
EGI
$142.0K $28.60/SF
− OpEx
−$63.9K −$12.87/SF
NOI
$78.1K $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 Rate 5%
$1,561,940
Cap Rate 7%
$1,115,671
Cap Rate 9%
$867,744
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$976.2K – $1.30M
NOI $78,097 @ 7.0% cap · market cap 8.22%
Second Best
Mixed Use
$842.6K
$737.3K – $983.1K
NOI $58,984 @ 7.0% cap · market cap 6.21%
Theoretical Best
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,727 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,469
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Double-wide, three-story mixed-use building with a storefront, garage space, and six apartments plus a laundromat.
Where is this mixed-use property located?
The property is located at 2981 2981-5 Frankford Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1915‑built double‑wide, three‑story mixed‑use building with a storefront; Includes garage space and 6 apartments; On‑site laundromat with close to 40 washers and dryers
