Mixed-Use Three-Story
For Sale
$499,900
4328 FRANKFORD AVENUE, Philadelphia, PA 19124
Three-story mixed-use building with a ground-floor commercial suite and two one-bedroom apartments on each upper level.
Property Size2,553 SF
Days on Market151
Property Features for 4328 FRANKFORD AVENUE
General Information
Standard status
Active
Size
2,553 SF
Property subtype
MixedUse
Occupancy
100%
Additional Details
Cap Rate
13%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$1,461
Amenities
fire alarm system
CO2 pull alarms
security cameras in the hallways and outside the building
Building Details
Building Size
2,553 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
Real Broker, LLC
Listed By:
Darine Son
(267) 752-0240
Source:
Lizclarkrealestate
Added: Apr 11
Changed: Sep 8
Last Checked: Sep 8 at 6:28AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This mixed-use three-story building includes a ground-floor commercial space with rear storage, a powder room, and a kitchenette. From the first floor, there is an exit to the backyard and access to the basement. A separate entrance leads to the second and third floors, each offering two one-bedroom apartments, and the third floor provides access to the roof.
All apartments are electric for heat and cooking, and tenants pay their own electric bills. The building is equipped with a fire alarm system, CO2 pull alarms, and security cameras in the hallways and outside the building. All four units are currently occupied, and rental assistance is provided to three tenants through Section 8 and a fourth tenant through the Bridge Program.
The property is offered for sale As Is. Leases are available for review, and the commercial space is currently used by the property manager for storage and a work area. Per the seller, the commercial space will be cleared prior to settlement, and 24 hours’ notice is required for showings.
All apartments are electric for heat and cooking, and tenants pay their own electric bills. The building is equipped with a fire alarm system, CO2 pull alarms, and security cameras in the hallways and outside the building. All four units are currently occupied, and rental assistance is provided to three tenants through Section 8 and a fourth tenant through the Bridge Program.
The property is offered for sale As Is. Leases are available for review, and the commercial space is currently used by the property manager for storage and a work area. Per the seller, the commercial space will be cleared prior to settlement, and 24 hours’ notice is required for showings.
Key Highlights
- Three‑story mixed‑use building on Frankford Ave with a ground‑floor commercial suite and four total occupied apartments.
- Commercial space on the first floor includes rear storage, powder room, and kitchenette; it also provides access to the basement and exits to the backyard.
- Separate entrance to the second and third floors, each offering two 1‑bedroom apartments (4 units total).
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
$32,897
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
6.58%
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%
$657,940
$657.9K
Cap Rate 7%
$469,957
$470.0K
Cap Rate 9%
$365,522
$365.5K
Market Conditions
NOI Build-Up for 2,553 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
$50.5K $19.80/SF
− Vacancy
−$3.6K −$1.39/SF
EGI
$47.0K $18.41/SF
− OpEx
−$14.1K −$5.52/SF
NOI
$32.9K $12.89/SF
Area
ZIP 19124
Vacancy
7.03%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$657,940
Cap Rate 7%
$469,957
Cap Rate 9%
$365,522
Alternative Uses
Best Use
Multifamily LT 5
$470.0K
$411.2K – $548.3K
NOI $32,897 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$432.4K
$378.4K – $504.5K
NOI $30,270 @ 7.0% cap · market cap 6.06%
Theoretical Best
Specialty Retail
$1.47M
$1.28M – $1.71M
NOI $102,796 @ 7.0% cap · market cap 20.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,815
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
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?
Quadplex - Three-story mixed-use building with a ground-floor commercial suite and two one-bedroom apartments on each upper level.
Where is this quadplex located?
The property is located at 4328 FRANKFORD AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three‑story mixed‑use building on Frankford Ave with a ground‑floor commercial suite and four total occupied apartments.; Commercial space on the first floor includes rear storage, powder room, and kitchenette; it also provides access to the basement and exits to the backyard.; Separate entrance to the second and third floors, each offering two 1‑bedroom apartments (4 units total).
