Two-Building Mixed-Use
New
For Sale
$400,000
3836 Lancaster Ave, Philadelphia, PA 19104
Retail and residential uses are combined across two buildings with separate utilities and fully leased units.
Property Size1,770 SF
Price / SF$225.99
Days on Market7
Property Features for 3836 Lancaster Ave
General Information
Standard status
Active
Size
1,770 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
New Age Realty Group Inc
Listed By:
Christos Tzimoulis · License #RM423707
(215) 387-1002
Source:
Baltimoreharfordhomesforsale
Added: Sep 13
Changed: Sep 18
Last Checked: Sep 18 at 2:32PM
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 property includes the buildings at 3834 and 3836 Lancaster Avenue, which are being offered together. Each building combines first-floor retail space with a bi-level apartment above featuring 3 bedrooms and 2 bathrooms. Separate utility services support the individual spaces, and the improvements date to 1915.
The property is positioned on Lancaster Avenue in University City, with proximity to Drexel University, UPENN, and Penn Presbyterian Medical Center. The combination of street-level commercial space and upper-level residential accommodations creates a diversified physical layout across the two-building offering.
The property is positioned on Lancaster Avenue in University City, with proximity to Drexel University, UPENN, and Penn Presbyterian Medical Center. The combination of street-level commercial space and upper-level residential accommodations creates a diversified physical layout across the two-building offering.
Key Highlights
- Two‑building offering at 3834 and 3836 Lancaster Avenue
- Each building combines first‑floor retail with an upper‑level bi‑level apartment
- Apartments feature 3 bedrooms and 2 bathrooms
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
$27,841
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
6.96%
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%
$556,820
$556.8K
Cap Rate 7%
$397,729
$397.7K
Cap Rate 9%
$309,344
$309.3K
Market Conditions
NOI Build-Up for 1,770 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
$53.7K $30.36/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$50.6K $28.60/SF
− OpEx
−$22.8K −$12.87/SF
NOI
$27.8K $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%
$556,820
Cap Rate 7%
$397,729
Cap Rate 9%
$309,344
Alternative Uses
Best Use
Apartment 5plus
$397.7K
$348.0K – $464.0K
NOI $27,841 @ 7.0% cap · market cap 6.96%
Second Best
Mixed Use
$300.4K
$262.9K – $350.5K
NOI $21,028 @ 7.0% cap · market cap 5.26%
Theoretical Best
Multifamily LT 5
$431.5K
$377.6K – $503.4K
NOI $30,205 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail and residential uses are combined across two buildings with separate utilities and fully leased units.
Where is this mixed-use property located?
The property is located at 3836 Lancaster Ave 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‑building offering at 3834 and 3836 Lancaster Avenue; Each building combines first‑floor retail with an upper‑level bi‑level apartment; Apartments feature 3 bedrooms and 2 bathrooms
