West Philadelphia Commercial Building For
For Sale
$1,250,000
4022-24 Lancaster Avenue, Philadelphia, PA 19104
High-visibility, multi-use commercial building in rapidly evolving West Philadelphia corridor.
Property Size5,300 SF
Price / SF$235.85
Days on Market208
Property Features for 4022-24 Lancaster Avenue
General Information
Standard status
Active
Size
5,300 SF
Property subtype
Commercial
Zoning
CMX2
Taxes and HOA fees
Annual Taxes
$2,914
Amenities
Natural Gas
Yes
personal property within the space
Public
AB0
40.00 x 133.00
0.12
No
Assessor
On Street
6200.00
41640.00
Building Details
Year Built
1915
Listing Agency:
Coldwell Banker Commercial
(856) 222-0077
Listed By:
Christopher Twardy · License #1540241
(609) 304-2314
Source:
Thetristaterealestategroup
Added: Mar 19
Changed: Oct 3
Last Checked: Oct 11 at 3:36AM
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 Coldwell Banker Commercial
Investment Insights
Based on property information with market context.
This multi-use commercial building is located on Lancaster Avenue at the corner of 42nd Street in West Philadelphia. The property offers 6,200 square feet of ground-floor commercial space and a full basement. Additionally, there is an approximately 1,000-square-foot second-floor office space. The building has 40 feet of frontage on Lancaster Avenue. It is located in a walkable, transit-rich West Philadelphia submarket with strong development momentum. The property is zoned CMX-2, which allows for broad permitted commercial uses. The site has a proven history as a grocery store, restaurant, and nightclub/lounge. SEPTA Route 10 trolley is on-site.
Key Highlights
- High‑visibility corner location on Lancaster Avenue and 42nd Street in a rapidly evolving commercial corridor.
- 6,200 SF ground‑floor commercial space with a full basement, suitable for high‑volume operations.**
- CMX‑2 zoning allows for broad permitted commercial uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,902
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,198,040
$1.2M
Cap Rate 7%
$855,743
$855.7K
Cap Rate 9%
$665,578
$665.6K
Market Conditions
NOI Build-Up for 5,300 SF
Gross rent
$95.4K $18.00/SF
− Vacancy
−$9.8K −$1.85/SF
EGI
$85.6K $16.15/SF
− OpEx
−$25.7K −$4.84/SF
NOI
$59.9K $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 Rate 5%
$1,198,040
Cap Rate 7%
$855,743
Cap Rate 9%
$665,578
Alternative Uses
Best Use
Retail
$855.7K
$748.8K – $998.4K
NOI $59,902 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,444 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,762
Businesses Nearby
24k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 27%
Apparel 6%
Electronics 6%
Dunkin' Donuts
Dining
11,056 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,789 visits/mo
0.2 miles
SUBWAY
Dining
2,779 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
1,400 visits/mo
0.3 miles
Boston Market
Dining
805 visits/mo
0.5 miles
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 Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - High-visibility, multi-use commercial building in rapidly evolving West Philadelphia corridor.
Where is this retail space located?
The property is located at 4022-24 Lancaster Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High‑visibility corner location on Lancaster Avenue and 42nd Street in a rapidly evolving commercial corridor.; 6,200 SF ground‑floor commercial space with a full basement, suitable for high‑volume operations.**; CMX‑2 zoning allows for broad permitted commercial uses.
