Mixed-Use Property with
For Sale
$495,000
4034 Westminster Avenue, Philadelphia, PA 19104
Residential units accompany a ground-floor commercial area, with updated kitchens and in-unit laundry.
Property Size3,000 SF
Price / SF$165
Days on Market167
Property Features for 4034 Westminster Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
CMX1
Occupancy
100%
Additional Details
Gross Income
$54,600
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$338
Amenities
updated kitchens
in-unit laundry
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1940
Listing Agency:
United Real Estate
Listed By:
Adriona Jenkins · License #RS344207
(215) 251-1223
Source:
Compass
Added: Mar 21
Changed: Aug 31
Last Checked: Aug 30 at 1:33AM
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 United Real Estate
Investment Insights
Based on property information with market context.
Located at 4034 Westminster Avenue in Philadelphia, this mixed-use property combines three residential units with a ground-floor commercial space. The building includes updated kitchens, in-unit laundry, and two off-street parking spaces. Constructed in 1940, the property is zoned CMX1 and offers a configuration that integrates residential and commercial occupancy within one building.
The first floor is currently occupied under a month-to-month lease and may be delivered vacant for an owner-occupant. The property is in Philadelphia, with access by car to the Art Museum, Philadelphia Zoo, and Center City. The residential units and commercial area provide distinct components within the overall property layout.
The first floor is currently occupied under a month-to-month lease and may be delivered vacant for an owner-occupant. The property is in Philadelphia, with access by car to the Art Museum, Philadelphia Zoo, and Center City. The residential units and commercial area provide distinct components within the overall property layout.
Key Highlights
- Three residential units plus a ground‑floor commercial space
- CMX1 zoning
- Two off‑street parking spaces
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
$35,640
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
7.20%
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%
$712,800
$712.8K
Cap Rate 7%
$509,143
$509.1K
Cap Rate 9%
$396,000
$396.0K
Market Conditions
NOI Build-Up for 3,000 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
$64.8K $21.60/SF
− Vacancy
−$7.8K −$2.59/SF
EGI
$57.0K $19.01/SF
− OpEx
−$21.4K −$7.13/SF
NOI
$35.6K $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$712,800
Cap Rate 7%
$509,143
Cap Rate 9%
$396,000
Alternative Uses
Best Use
Multifamily LT 5
$731.4K
$639.9K – $853.3K
NOI $51,195 @ 7.0% cap · market cap 10.34%
Second Best
Apartment 5plus
$674.1K
$589.9K – $786.5K
NOI $47,189 @ 7.0% cap · market cap 9.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,133
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 - Residential units accompany a ground-floor commercial area, with updated kitchens and in-unit laundry.
Where is this mixed-use property located?
The property is located at 4034 Westminster Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Three residential units plus a ground‑floor commercial space; CMX1 zoning; Two off‑street parking spaces
