University City Boutique
For Sale
Contact for pricing
4210 Chestnut St, Philadelphia, PA 19104
47-unit, 96-bed mid-rise near Penn Medicine and CHOP.
Property Size50,044 SF
Price / SF$289.75
Days on Market155
Property Features for 4210 Chestnut St
General Information
Standard status
Active
Size
50,044 SF
Class
B
Property subtype
Multifamily
Zoning
CMX-4
Building Details
Year Built
2017
Buildings
1
Stories
6
Units
47
Listing Agency:
GREA
Listed By:
Ken Wellar · License #PA 10401252368
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 11 at 4:48PM
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 GREA
Investment Insights
Based on property information with market context.
This 47-unit, 96-bed boutique mid-rise caters to the "Eds & Meds" demand from Penn Medicine and the Children’s Hospital of Philadelphia (CHOP). The property offers a stable, recession-proof tenant base with high-efficiency 2x2 and 3x3 floor plans. Located just off the corner of 42nd Street and Chestnut Street, the six-story building includes a fitness center and video monitoring. It is a 0.5-mile walk to Penn Presbyterian Medical Center (Penn Medicine) and offers direct SEPTA trolley access to Center City. University City is a regional leader in science and innovation, featuring universities and hospitals. The neighborhood spans 2.4 square miles and accommodates over 50,000 residents and 85,000 jobs in medicine, higher education, real estate, technology, and hospitality. University City offers real estate development opportunities and transportation infrastructure, including bicycle and pedestrian thoroughfares. This area is a cultural destination, transportation hub, and employment center supporting development projects and life sciences advancements. With a diverse population, varied housing and rental options, educational institutions and medical facilities, and amenities, University City is considered one of Philadelphia’s premier neighborhoods. The property size is 50,044 square feet.
Key Highlights
- Stable, recession‑proof tenant base due to proximity to Penn Medicine and Children’s Hospital of Philadelphia (CHOP).
- Located in University City, a premier Philadelphia neighborhood with exceptional educational institutions and medical facilities.
- High‑efficiency 2x2 and 3x3 floor plans.
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
$787,168
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
5.43%
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%
$15,743,360
$15.7M
Cap Rate 7%
$11,245,257
$11.2M
Cap Rate 9%
$8,746,311
$8.7M
Market Conditions
NOI Build-Up for 50,044 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
$1.52M $30.36/SF
− Vacancy
−$88.1K −$1.76/SF
EGI
$1.43M $28.60/SF
− OpEx
−$644.0K −$12.87/SF
NOI
$787.2K $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%
$15,743,360
Cap Rate 7%
$11,245,257
Cap Rate 9%
$8,746,311
Alternative Uses
Best Use
Apartment 5plus
$11.25M
$9.84M – $13.12M
NOI $787,168 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$12.20M
$10.67M – $14.23M
NOI $853,996 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,929
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 47-unit, 96-bed mid-rise near Penn Medicine and CHOP.
Where is this apartment building located?
The property is located at 4210 Chestnut St Philadelphia, PA.
What is the asking price?
The asking price for this property is $14,500,000.
What are key features of this property?
This property features: Stable, recession‑proof tenant base due to proximity to Penn Medicine and Children’s Hospital of Philadelphia (CHOP).; Located in University City, a premier Philadelphia neighborhood with exceptional educational institutions and medical facilities.; High‑efficiency 2x2 and 3x3 floor plans.
