Mixed-Use Buildings with
New
For Sale
$400,000
3834 LANCASTER Avenue, Philadelphia, PA 19104
Multi-Family, PHILADELPHIA, PA
Property Size1,822 SF
Lot Size0.02 Acres
Price / SF$219.54
Days on Market2
Property Features for 3834 LANCASTER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Subdivision
UNIVERSITY CITY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,822 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
4692
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1915
Number of units
2
Building materials
Masonry
Listing Agency:
New Age Realty Group Inc
Listed By:
Christos Tzimoulis · License #RM423707
(215) 387-1002
Added: Sep 15
Last Checked: Sep 16 at 5:06AM
MLS# PAPH2670996
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.
The offering includes two adjoining masonry buildings totaling 1,822 square feet at 3834 and 3836 Lancaster Avenue. The configuration includes ground-level retail space plus two bi-level apartments, each with 3 bedrooms and 2 bathrooms. All three units are fully leased, and utilities are separately metered. Central Air, Forced Air heating, and basement space are also present. The buildings date to 1915.
The property is situated on Lancaster Avenue in University City, Philadelphia, near Drexel University, UPENN, and Penn Presbyterian Medical Center. Both buildings are being offered together, creating a combined mixed-use asset with retail and residential components in a single transaction.
The property is situated on Lancaster Avenue in University City, Philadelphia, near Drexel University, UPENN, and Penn Presbyterian Medical Center. Both buildings are being offered together, creating a combined mixed-use asset with retail and residential components in a single transaction.
Key Highlights
- Two buildings at 3834 and 3836 Lancaster Avenue offered together
- 1,822 square feet on 0.023 acres
- Ground‑level retail space with two bi‑level apartments
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
$28,659
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
7.16%
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%
$573,180
$573.2K
Cap Rate 7%
$409,414
$409.4K
Cap Rate 9%
$318,433
$318.4K
Market Conditions
NOI Build-Up for 1,822 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
$55.3K $30.36/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$52.1K $28.60/SF
− OpEx
−$23.4K −$12.87/SF
NOI
$28.7K $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 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%
$573,180
Cap Rate 7%
$409,414
Cap Rate 9%
$318,433
Alternative Uses
Best Use
Apartment 5plus
$409.4K
$358.2K – $477.7K
NOI $28,659 @ 7.0% cap · market cap 7.16%
Second Best
Mixed Use
$309.2K
$270.6K – $360.8K
NOI $21,645 @ 7.0% cap · market cap 5.41%
Theoretical Best
Multifamily LT 5
$444.2K
$388.7K – $518.2K
NOI $31,092 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Fully leased property combines retail frontage with two bi-level residential units and separate utilities.
Where is this mixed-use property located?
The property is located at 3834 LANCASTER Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two buildings at 3834 and 3836 Lancaster Avenue offered together; 1,822 square feet on 0.023 acres; Ground‑level retail space with two bi‑level apartments
