Bi-Level Live-Work Retail
For Sale
$465,000
3420 W Allegheny Ave, Philadelphia, PA 19132
Mixed-use building includes a beauty/hair salon, bi-level home, and a large garage suitable for many work-live conversions.
Property Size2,500 SF
Price / SF$186
Days on Market94
Property Features for 3420 W Allegheny Ave
General Information
Standard status
Active
Size
2,500 SF
Building Details
Year Built
1915
Listing Agency:
Mercury Real Assocates
Listed By:
Harris Kramer · License #RM050954A
(215) 742-1770
Source:
Premierehomegroup
Added: Jul 19
Changed: Oct 1
Last Checked: Oct 7 at 5:18PM
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 Mercury Real Assocates
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Investment Insights
Based on property information with market context.
This for-sale mixed-use building at 3420 W Allegheny Ave includes a 500 sq ft beauty/hair salon and a 1,000 sq ft bi-level house. In addition, it features a very large 35x30 garage that can be converted for a range of retail and work/live uses.
The property is positioned for flexible occupancy, with the garage offering potential for creative and light industrial-style conversions such as artist studio, metal or glass work, wood working, office space, assembly, or café use, based on the stated conversion possibilities.
Overall, the building’s combination of salon space, bi-level residence, and large garage provides multiple areas that can support either single-user operations or differentiated live/work layouts, depending on configuration.
The property is positioned for flexible occupancy, with the garage offering potential for creative and light industrial-style conversions such as artist studio, metal or glass work, wood working, office space, assembly, or café use, based on the stated conversion possibilities.
Overall, the building’s combination of salon space, bi-level residence, and large garage provides multiple areas that can support either single-user operations or differentiated live/work layouts, depending on configuration.
Key Highlights
- Year built 1915 mixed‑use building at 3420 W Allegheny Ave.
- Includes a 500 SF beauty/hair salon.
- Bi‑level house provides 1,000 SF of additional living space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,899
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,980
$658.0K
Cap Rate 7%
$469,986
$470.0K
Cap Rate 9%
$365,544
$365.5K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$54.9K $21.96/SF
− Vacancy
−$11.0K −$4.41/SF
EGI
$43.9K $17.55/SF
− OpEx
−$11.0K −$4.39/SF
NOI
$32.9K $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 Rate 5%
$657,980
Cap Rate 7%
$469,986
Cap Rate 9%
$365,544
Alternative Uses
Best Use
Office B
$470.0K
$411.2K – $548.3K
NOI $32,899 @ 7.0% cap · market cap 7.08%
Second Best
Mixed Use
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 6.39%
Theoretical Best
Multifamily LT 5
$609.5K
$533.3K – $711.0K
NOI $42,662 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
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Business Placement
Demographics for 19132, PA
33,926
Population
17,402
Households
1.9
Avg Household Size
37
Median Age
13%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
15,421
Density / Sq Mi
$30,974
Median Household Income
$30,300
Median Earnings
$1,055
Median Rent
$73,000
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
Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use building includes a beauty/hair salon, bi-level home, and a large garage suitable for many work-live conversions.
Where is this live-work space located?
The property is located at 3420 W Allegheny Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Year built 1915 mixed‑use building at 3420 W Allegheny Ave.; Includes a 500 SF beauty/hair salon.; Bi‑level house provides 1,000 SF of additional living space.
