Zoned Retail Development
For Sale
$3,850,000
325-31 Bainbridge Street Philadelphia, Philadelphia, PA 19147
Two-story retail structure on four contiguous parcels with private rear parking accessed from Kater Street.
Property Size22,000 SF
Price / SF$175
Days on Market59
Property Features for 325-31 Bainbridge Street Philadelphia
General Information
Standard status
Active
Size
22,000 SF
Total Parking Spaces
4
Zoning
CMX2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$30,564
Amenities
Electric
Yes
Contents of building: Gym Equipment,clothes washer,clothes dryer,refrigerator
Public
JM0
70.00 x 136.00
0.26
No
Assessor
Parking Lot
Paved Parking
3
22000.00
436697.00
4
Building Details
Year Built
1981
Stories
2
Listed By:
Crishawn Atkins
(866) 825-7169
Source:
Va.exprealty
Added: Jul 11
Changed: Sep 6
Last Checked: Sep 7 at 4:42AM
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 Crishawn Atkins
Investment Insights
Based on property information with market context.
This offering consists of a two-story existing retail structure of approximately 22,000+ square feet, included with four contiguous parcels spanning from Bainbridge Street through to Kater Street. The site includes a private rear parking lot with access from Kater Street, which can support flexibility for future planning, parking, and service access. The property is being sold as-is, providing an opportunity for full gut renovation, redevelopment, or adaptive reuse consistent with the buyer’s due diligence.
The assemblage is zoned CMX-2 and is located in Queen Village, with the block-through configuration creating internal connectivity from Bainbridge to Kater. The surrounding area includes established residential demand alongside dining and retail.
CMX-2 zoning may support a range of uses, including mixed-use residential, multifamily, retail, boutique hospitality, or institutional uses, subject to buyer verification of permitted uses, density, and development potential.
The assemblage is zoned CMX-2 and is located in Queen Village, with the block-through configuration creating internal connectivity from Bainbridge to Kater. The surrounding area includes established residential demand alongside dining and retail.
CMX-2 zoning may support a range of uses, including mixed-use residential, multifamily, retail, boutique hospitality, or institutional uses, subject to buyer verification of permitted uses, density, and development potential.
Key Highlights
- Four contiguous parcels included, forming a block‑through site from Bainbridge Street to Kater Street.
- Approx. 22,000+ SF two‑story existing structure on 0.26 acres.
- Private rear parking lot with access from Kater Street; 3 car parking spaces and 4 total parking spaces.
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
$248,648
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
6.46%
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%
$4,972,960
$5.0M
Cap Rate 7%
$3,552,114
$3.6M
Cap Rate 9%
$2,762,756
$2.8M
Market Conditions
NOI Build-Up for 22,000 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
$396.0K $18.00/SF
− Vacancy
−$40.8K −$1.85/SF
EGI
$355.2K $16.15/SF
− OpEx
−$106.6K −$4.84/SF
NOI
$248.6K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,972,960
Cap Rate 7%
$3,552,114
Cap Rate 9%
$2,762,756
Alternative Uses
Best Use
Retail
$3.55M
$3.11M – $4.14M
NOI $248,648 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.36M
$4.69M – $6.26M
NOI $375,428 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9,041
Businesses Nearby
91k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 55%
Dining 19%
Hotels & Casinos 16%
Shops & Services 8%
Whole Foods Market
Groceries
37,607 visits/mo
0.5 miles
Philadelphia Marriott Old City
Hotels & Casinos
14,972 visits/mo
0.5 miles
ACME Markets
Groceries
12,615 visits/mo
0.2 miles
Kung Fu Tea
Dining
7,072 visits/mo
0.5 miles
TD Bank
Shops & Services
6,416 visits/mo
0.2 miles
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story retail structure on four contiguous parcels with private rear parking accessed from Kater Street.
Where is this retail space located?
The property is located at 325-31 Bainbridge Street Philadelphia Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Four contiguous parcels included, forming a block‑through site from Bainbridge Street to Kater Street.; Approx. 22,000+ SF two‑story existing structure on 0.26 acres.; Private rear parking lot with access from Kater Street; 3 car parking spaces and 4 total parking spaces.
