Renovated Mixed-Use
New
For Sale
$2,120,000
32-42 E BALTIMORE AVE, Clifton Heights, PA 19018
Mixed-use asset with storefronts, apartments, garages, and gated parking in a commercial corridor.
Property Size17,000 SF
Lot Size0.76 Acres
Price / SF$124.71
Days on Market1
Property Features for 32-42 E BALTIMORE AVE
General Information
Standard status
Active
Size
17,000 SF
Lot size
0.76 Acres
Zoning
C-1
Additional Details
Traffic Count
18,000 vehicles/day
Unit Mix
2 x 2BR, 2 x 3BR/2BA
Amenities
off-site parking
private garage parking
dedicated parking lot
gated parking lot
Building Details
Year Built
1970
Year Renovated
2019
Construction
brick and cement siding
Listing Agency:
Home Line Realty Corp
(215) 982-2265
Listed By:
Jing Wang
(267) 570-7766
Source:
360
Added: Sep 13
Last Checked: Sep 13 at 10:01AM
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 Home Line Realty Corp
Investment Insights
Based on property information with market context.
This mixed-use property combines commercial storefront space with apartment units across approximately 17,000 square feet of building area. Originally constructed in 1970 and renovated in 2019, the improvements include brick and cement siding, updated commercial and residential units, two garages, and a gated parking lot. The property encompasses approximately .76 acres and includes roughly 120 feet of frontage on Baltimore Ave.
The commercial component includes a combined space at 32-36 E Baltimore Ave that may be divided into two stores, along with two storefronts overall. Residential space includes two apartments above 32-36 E Baltimore Ave, each with two bedrooms, plus a second-floor area at 38 E Baltimore Ave configured for two apartments, each with three bedrooms and two baths. The property is zoned C-1 and has an average daily traffic count exceeding 18,000. The parking lot extends 280 feet in depth.
The commercial component includes a combined space at 32-36 E Baltimore Ave that may be divided into two stores, along with two storefronts overall. Residential space includes two apartments above 32-36 E Baltimore Ave, each with two bedrooms, plus a second-floor area at 38 E Baltimore Ave configured for two apartments, each with three bedrooms and two baths. The property is zoned C-1 and has an average daily traffic count exceeding 18,000. The parking lot extends 280 feet in depth.
Key Highlights
- Approximately 17,000sq' combined building space on approximately .76 acres
- Approximately 120 Frontage on Baltimore Ave
- Two garages and a drive thru gated parking lot with 280' depth
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
$170,418
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
8.04%
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%
$3,408,360
$3.4M
Cap Rate 7%
$2,434,543
$2.4M
Cap Rate 9%
$1,893,533
$1.9M
Market Conditions
NOI Build-Up for 17,000 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
$359.0K $21.12/SF
− Vacancy
−$49.2K −$2.89/SF
EGI
$309.9K $18.23/SF
− OpEx
−$139.4K −$8.20/SF
NOI
$170.4K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
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%
$3,408,360
Cap Rate 7%
$2,434,543
Cap Rate 9%
$1,893,533
Alternative Uses
Best Use
Apartment 5plus
$2.43M
$2.13M – $2.84M
NOI $170,418 @ 7.0% cap · market cap 8.04%
Second Best
Mixed Use
$2.40M
$2.10M – $2.81M
NOI $168,300 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$5.15M
$4.51M – $6.01M
NOI $360,796 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 19018, PA
23,664
Population
10,201
Households
2.3
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
2.7 sq mi
ZIP Area
8,764
Density / Sq Mi
$73,451
Median Household Income
$46,387
Median Earnings
$1,346
Median Rent
$215,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use asset with storefronts, apartments, garages, and gated parking in a commercial corridor.
Where is this mixed-use property located?
The property is located at 32-42 E BALTIMORE AVE Clifton Heights, PA.
What is the asking price?
The asking price for this property is $2,120,000.
What are key features of this property?
This property features: Approximately 17,000sq' combined building space on approximately .76 acres; Approximately 120 Frontage on Baltimore Ave; Two garages and a drive thru gated parking lot with 280' depth
