Mixed-Use Triplex with Commercial
For Sale
$339,900
3113 FRANKFORD Avenue, Philadelphia, PA 19134
Multi-Family, PHILADELPHIA, PA
Property Size2,160 SF
Lot Size0.03 Acres
Price / SF$157.36
Days on Market8
Property Features for 3113 FRANKFORD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Subdivision
KENSINGTON
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
2,160 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1308
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
coin-operated washer/dryer
Building Details
Year built
1910
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
Realty Mark Associates
(215) 376-4444
Listed By:
Mireya C Delgado · License #AB068587
(267) 432-2217
Added: Sep 14
Changed: Sep 19
Last Checked: Sep 21 at 2:06AM
MLS# PAPH2667654
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,160-square-foot masonry triplex includes a street-level commercial area and two residential units above. The lower level has tall ceilings, exposed brick, and an open layout, with coin-operated laundry equipment available for tenants. The two upper apartments provide functional floor plans and natural light. Separate utilities, updated mechanical systems, forced-air heat, and central air are in place. A basement is also included.
The property is located on Frankford Avenue in Philadelphia’s Kensington section, with on-street parking and a 0.0306-acre lot. The source information identifies zoning that supports both commercial and residential income uses, and the ground-floor area may also be used as an additional apartment.
The property is located on Frankford Avenue in Philadelphia’s Kensington section, with on-street parking and a 0.0306-acre lot. The source information identifies zoning that supports both commercial and residential income uses, and the ground-floor area may also be used as an additional apartment.
Key Highlights
- Mixed‑use triplex with 2,160 square feet of building area
- Street‑level commercial space with potential for conversion to another apartment
- Two residential units with functional layouts and natural light
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
$28,425
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
8.36%
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%
$568,500
$568.5K
Cap Rate 7%
$406,071
$406.1K
Cap Rate 9%
$315,833
$315.8K
Market Conditions
NOI Build-Up for 2,160 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
$47.4K $21.96/SF
− Vacancy
−$9.5K −$4.41/SF
EGI
$37.9K $17.55/SF
− OpEx
−$9.5K −$4.39/SF
NOI
$28.4K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /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%
$568,500
Cap Rate 7%
$406,071
Cap Rate 9%
$315,833
Alternative Uses
Best Use
Multifamily LT 5
$526.6K
$460.8K – $614.3K
NOI $36,860 @ 7.0% cap · market cap 10.84%
Second Best
Apartment 5plus
$485.4K
$424.7K – $566.3K
NOI $33,976 @ 7.0% cap · market cap 10.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,506
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Street-level commercial area complements two residential units and separate utilities.
Where is this triplex located?
The property is located at 3113 FRANKFORD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Mixed‑use triplex with 2,160 square feet of building area; Street‑level commercial space with potential for conversion to another apartment; Two residential units with functional layouts and natural light
