Historic Mixed-Use Property For
For Sale
Contact for pricing
4200 Ridge Ave, Philadelphia, PA 19129
Unique mixed-use building in East Falls with versatile potential.
Property Size8,600 SF
Price / SF$197.56
Days on Market834
Property Features for 4200 Ridge Ave
General Information
Standard status
Active
Size
8,600 SF
Property subtype
Mixed Use, Office, Retail
Zoning
CMX2.5
Lease Type
Net
Building Details
Year Built
1900
Year Renovated
2003
Stories
3
Tenancy
Multi
Listing Agency:
Sherman Properties
Listed By:
David Spoont · License #RM422056
Source:
Crexi
Added: May 30, 2024
Changed: Sep 8
Last Checked: Sep 10 at 5:23AM
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 Sherman Properties
Investment Insights
Based on property information with market context.
This historic mixed-use property, constructed in 1900, is located off Kelly Drive and the Schuylkill River in East Falls. The property has a total size of 8,600 square feet. The first floor suite, approximately 3,000 square feet, features two street-accessible entrances, three separate office spaces, and private restrooms. The suite is lined with windows providing natural light. Potential uses for the first floor include a cafe, delicatessen, fitness facility, or event space. The second floor contains a large gymnasium with a stage and balcony seating. The second and third floors are each approximately 2,800 square feet. The third floor includes two restrooms, several built-out offices, and river views. The property is being sold in as-is condition and includes 6 parking spaces.
Key Highlights
- Prime location directly off Kelly Drive and the Schuylkill River.
- Versatile first‑floor suite (3,000 SF) suitable for various businesses with two street‑accessible entrances.
- Unique historic property built in 1900.
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
$102,168
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
6.01%
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%
$2,043,360
$2.0M
Cap Rate 7%
$1,459,543
$1.5M
Cap Rate 9%
$1,135,200
$1.1M
Market Conditions
NOI Build-Up for 8,600 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
$185.8K $21.60/SF
− Vacancy
−$22.3K −$2.59/SF
EGI
$163.5K $19.01/SF
− OpEx
−$61.3K −$7.13/SF
NOI
$102.2K $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%
$2,043,360
Cap Rate 7%
$1,459,543
Cap Rate 9%
$1,135,200
Alternative Uses
Best Use
Mixed Use
$1.46M
$1.28M – $1.70M
NOI $102,168 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.10M
$1.83M – $2.45M
NOI $146,758 @ 7.0% cap · market cap 8.64%
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
780
Businesses Nearby
Explore this area
Business Placement
Demographics for 19129, PA
11,437
Population
6,228
Households
1.8
Avg Household Size
35
Median Age
60%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
5,446
Density / Sq Mi
$77,225
Median Household Income
$58,576
Median Earnings
$1,471
Median Rent
$297,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Unique mixed-use building in East Falls with versatile potential.
Where is this mixed-use property located?
The property is located at 4200 Ridge Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Prime location directly off Kelly Drive and the Schuylkill River.; Versatile first‑floor suite (3,000 SF) suitable for various businesses with two street‑accessible entrances.; Unique historic property built in 1900.
