Mixed-Use Property with
New
For Sale
$625,000
308 W QUEEN LANE, Philadelphia, PA 19144
Two updated apartments accompany a leased warehouse, combining residential space with commercial occupancy.
Property Size1,310 SF
Price / SF$477.10
Days on Market7
Property Features for 308 W QUEEN LANE
General Information
Standard status
Active
Size
1,310 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Gross Income
$54,600
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
SDG Management, LLC
(267) 239-2424
Listed By:
Shawn E Witter · License #RS326040
(267) 446-9133
Source:
Cummingsrealtors
Added: Oct 5
Changed: Oct 11
Last Checked: Oct 11 at 7:33AM
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 SDG Management, LLC
Investment Insights
Based on property information with market context.
This mixed-use property brings together two renovated apartments and a warehouse under one roof. The apartments feature stainless steel appliances, quartz-style countertops, subway-tile kitchens, tiled bathrooms, luxury vinyl plank flooring, and recessed lighting. The property was built in 1900 and is fully occupied, with three income-producing components.
The warehouse is subject to a five-year commercial lease with 3% annual rent increases. The property is near Wayne Junction, which provides regional rail service, with access to Center City.
The warehouse is subject to a five-year commercial lease with 3% annual rent increases. The property is near Wayne Junction, which provides regional rail service, with access to Center City.
Key Highlights
- Two renovated apartments and a warehouse create three income‑producing components
- Fully occupied property
- Warehouse lease has a 5‑year term and 3% annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,606
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,120
$412.1K
Cap Rate 7%
$294,371
$294.4K
Cap Rate 9%
$228,956
$229.0K
Market Conditions
NOI Build-Up for 1,310 SF
Gross rent
$39.8K $30.36/SF
− Vacancy
−$2.3K −$1.76/SF
EGI
$37.5K $28.60/SF
− OpEx
−$16.9K −$12.87/SF
NOI
$20.6K $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%
$412,120
Cap Rate 7%
$294,371
Cap Rate 9%
$228,956
Alternative Uses
Best Use
Apartment 5plus
$294.4K
$257.6K – $343.4K
NOI $20,606 @ 7.0% cap · market cap 3.30%
Second Best
Mixed Use
$222.3K
$194.5K – $259.4K
NOI $15,563 @ 7.0% cap · market cap 2.49%
Theoretical Best
Multifamily LT 5
$319.4K
$279.4K – $372.6K
NOI $22,355 @ 7.0% cap · market cap 3.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 19144, PA
44,481
Population
23,583
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
90%
High-School Grad
3.6 sq mi
ZIP Area
12,356
Density / Sq Mi
$45,727
Median Household Income
$36,020
Median Earnings
$1,110
Median Rent
$224,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two updated apartments accompany a leased warehouse, combining residential space with commercial occupancy.
Where is this mixed-use property located?
The property is located at 308 W QUEEN LANE Philadelphia, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two renovated apartments and a warehouse create three income‑producing components; Fully occupied property; Warehouse lease has a 5‑year term and 3% annual rent increases
