Mixed-Use Property with Rear
For Sale
$649,000
408 E GIRARD AVENUE, Philadelphia, PA 19125
Two-level living quarters include two bedrooms, one-and-a-half baths, and private outdoor space.
Property Size2,577 SF
Days on Market129
Property Features for 408 E GIRARD AVENUE
General Information
Standard status
Active
Size
2,577 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,325
Amenities
Juliet balcony
private rear deck
Building Details
Building Size
2,577 SF
Year Built
1920
Buildings
1
Tenancy
Single
Listing Agency:
KW Empower
Listed By:
Andre Quain · License #RS339578
(215) 500-9180
Source:
Patmckennarealtors
Added: Apr 30
Changed: Aug 29
Last Checked: Sep 4 at 12:03PM
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 KW Empower
Investment Insights
Based on property information with market context.
Located at 408 E Girard Avenue, this 1920 mixed-use property pairs a first-floor commercial space with a bi-level residential unit. The commercial area is currently occupied by Lot 49 Books and can remain leased or be provided vacant, depending on the buyer’s plans.
The residence includes 2 bedrooms and 1.5 bathrooms, along with a Juliet balcony facing Girard Avenue and a private rear deck. It is scheduled for vacant delivery by August 1. The property sits in Philadelphia’s Fishtown area along Girard Avenue, with restaurants, cafes, shops, and entertainment nearby. Access to Center City, I-95, and public transportation adds connectivity for both commercial and residential occupants.
The residence includes 2 bedrooms and 1.5 bathrooms, along with a Juliet balcony facing Girard Avenue and a private rear deck. It is scheduled for vacant delivery by August 1. The property sits in Philadelphia’s Fishtown area along Girard Avenue, with restaurants, cafes, shops, and entertainment nearby. Access to Center City, I-95, and public transportation adds connectivity for both commercial and residential occupants.
Key Highlights
- First‑floor commercial space currently leased to Lot 49 Books
- Bi‑level residential unit with 2 bedrooms and 1.5 bathrooms
- Private rear deck and Juliet balcony overlooking Girard Avenue
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
$30,615
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
4.72%
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%
$612,300
$612.3K
Cap Rate 7%
$437,357
$437.4K
Cap Rate 9%
$340,167
$340.2K
Market Conditions
NOI Build-Up for 2,577 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
$55.7K $21.60/SF
− Vacancy
−$6.7K −$2.59/SF
EGI
$49.0K $19.01/SF
− OpEx
−$18.4K −$7.13/SF
NOI
$30.6K $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%
$612,300
Cap Rate 7%
$437,357
Cap Rate 9%
$340,167
Alternative Uses
Best Use
Mixed Use
$437.4K
$382.7K – $510.3K
NOI $30,615 @ 7.0% cap · market cap 4.72%
Second Best
Retail
$416.1K
$364.1K – $485.4K
NOI $29,126 @ 7.0% cap · market cap 4.49%
Theoretical Best
Multifamily LT 5
$628.2K
$549.7K – $732.9K
NOI $43,976 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,995
Businesses Nearby
58k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 19%
Groceries 12%
Electronics 5%
McDonald's
Dining
23,463 visits/mo
0.3 miles
Fine Wine & Good Spirits
Groceries
6,966 visits/mo
0.5 miles
Wells Fargo
Shops & Services
5,966 visits/mo
0.2 miles
Jeni's Splendid Ice Creams
Dining
5,149 visits/mo
0.3 miles
Carvana
Shops & Services
3,310 visits/mo
0.4 miles
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level living quarters include two bedrooms, one-and-a-half baths, and private outdoor space.
Where is this mixed-use property located?
The property is located at 408 E GIRARD AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: First‑floor commercial space currently leased to Lot 49 Books; Bi‑level residential unit with 2 bedrooms and 1.5 bathrooms; Private rear deck and Juliet balcony overlooking Girard Avenue
