CMX-2 Commercial Land with
New
For Sale
$600,000
3001 FRANKFORD AVENUE, Philadelphia, PA 19134
Existing commercial improvements along an active Philadelphia corridor with CMX-2 zoning and mixed-use application potential subject to approvals.
Property Size2,590 SF
Days on Market4
Property Features for 3001 FRANKFORD AVENUE
General Information
Standard status
Active
Size
2,590 SF
Property subtype
Land for Commercial Use
Taxes and HOA fees
Annual Taxes
$9,879
Building Details
Building Size
2,590 SF
Year Built
1910
Listing Agency:
Century 21 Advantage Gold-South Philadelphia
Listed By:
David R Lombardo · License #RS305402
(215) 287-7599
Source:
Lizclarkrealestate
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 10 at 3:09PM
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 Century 21 Advantage Gold-South Philadelphia
Investment Insights
Based on property information with market context.
This CMX-2 commercial land offering includes an existing storefront and commercial improvements at 3001 Frankford Avenue in Philadelphia. The building dates to 1910 and provides an established physical presence for continued commercial use, repositioning, leasing, or future redevelopment, subject to applicable zoning and approvals.
The property sits within an established Philadelphia neighborhood characterized by a residential base, surrounding businesses, neighborhood amenities, and an active commercial corridor. Its Frankford Avenue address places the site in a visible, locally oriented setting. CMX-2 zoning supports a range of potential commercial and mixed-use applications, with permitted uses, dimensions, and development considerations subject to verification with the City of Philadelphia.
The property sits within an established Philadelphia neighborhood characterized by a residential base, surrounding businesses, neighborhood amenities, and an active commercial corridor. Its Frankford Avenue address places the site in a visible, locally oriented setting. CMX-2 zoning supports a range of potential commercial and mixed-use applications, with permitted uses, dimensions, and development considerations subject to verification with the City of Philadelphia.
Key Highlights
- CMX‑2 zoning supports commercial and mixed‑use applications, subject to approvals
- Existing storefront and commercial improvements
- Building constructed in 1910
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
$37,529
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
6.25%
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%
$750,580
$750.6K
Cap Rate 7%
$536,129
$536.1K
Cap Rate 9%
$416,989
$417.0K
Market Conditions
NOI Build-Up for 2,590 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
$54.4K $21.00/SF
− Vacancy
−$4.4K −$1.68/SF
EGI
$50.0K $19.32/SF
− OpEx
−$12.5K −$4.83/SF
NOI
$37.5K $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%
$750,580
Cap Rate 7%
$536,129
Cap Rate 9%
$416,989
Alternative Uses
Best Use
Specialty Retail
$536.1K
$469.1K – $625.5K
NOI $37,529 @ 7.0% cap · market cap 6.25%
Second Best
Retail
$418.2K
$365.9K – $487.9K
NOI $29,273 @ 7.0% cap · market cap 4.88%
Theoretical Best
Multifamily LT 5
$631.4K
$552.5K – $736.6K
NOI $44,198 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,469
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 4%
Electronics 2%
Sunoco
Shops & Services
9,282 visits/mo
0.3 miles
Wells Fargo
Shops & Services
5,981 visits/mo
0.3 miles
Dollar Tree
Shops & Services
5,786 visits/mo
0.2 miles
Bank of America
Shops & Services
3,144 visits/mo
0.3 miles
Family Dollar
Shops & Services
2,173 visits/mo
0.2 miles
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 Retail in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Existing commercial improvements along an active Philadelphia corridor with CMX-2 zoning and mixed-use application potential subject to approvals.
Where is this commercial land located?
The property is located at 3001 FRANKFORD AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: CMX‑2 zoning supports commercial and mixed‑use applications, subject to approvals; Existing storefront and commercial improvements; Building constructed in 1910
