Two-Building Mixed-Use
For Sale
$400,000
3834 LANCASTER AVENUE, Philadelphia, PA 19104
Leased structures pair ground-floor retail with bi-level apartments and separate utilities across both buildings.
Property Size1,822 SF
Days on Market11
Property Features for 3834 LANCASTER AVENUE
General Information
Standard status
Active
Size
1,822 SF
Property subtype
MixedUse
Occupancy
100%
Financials
Asking Price
$800,000
Gross Income
$66,600
Taxes and HOA fees
Annual Taxes
$4,692
Building Details
Building Size
1,822 SF
Year Built
1915
Buildings
2
Listing Agency:
New Age Realty Group Inc
Listed By:
Christos Tzimoulis · License #RM423707
(215) 387-1002
Source:
Patmckennarealtors
Added: Aug 25
Changed: Sep 2
Last Checked: Sep 1 at 11:26PM
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 New Age Realty Group Inc
Investment Insights
Based on property information with market context.
This mixed-use offering includes the buildings at 3834 and 3836 Lancaster Avenue, which are being conveyed together. Each structure combines a first-floor retail component with an upper-level bi-level apartment featuring three bedrooms and two bathrooms. Utilities are separate, and all three units are fully leased. The buildings date to 1915.
The property is situated on Lancaster Avenue in University City, with proximity to Drexel University, UPENN, and Penn Presbyterian Medical Center. The combination of commercial space and residential units creates a three-unit configuration within the two-building offering.
The property is situated on Lancaster Avenue in University City, with proximity to Drexel University, UPENN, and Penn Presbyterian Medical Center. The combination of commercial space and residential units creates a three-unit configuration within the two-building offering.
Key Highlights
- Two buildings at 3834 and 3836 Lancaster Avenue offered together
- Each building combines first‑floor retail with a bi‑level, 3‑bedroom, 2‑bathroom apartment
- All three units are fully leased
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
Property Profile
Current Use
Lease Details
100%
Occupancy
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
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 - Leased structures pair ground-floor retail with bi-level apartments and separate utilities across both buildings.
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; Each building combines first‑floor retail with a bi‑level, 3‑bedroom, 2‑bathroom apartment; All three units are fully leased
