Corner Mixed-Use
For Sale
Contact for pricing
4817-23 Chester Avenue, Philadelphia, PA 19143
Four commercial units offer a flexible configuration for occupancy, repositioning, or future mixed-use planning.
Property Size6,410 SF
Price / SF$202.03
Days on Market142
Property Features for 4817-23 Chester Avenue
General Information
Standard status
Active
Size
6,410 SF
Total Parking Spaces
8
Property subtype
Multifamily, Office, Mixed Use
Zoning
CMX -2
Investment Type
Redevelopment
Site & Location
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Buildings
1
Tenancy
Multi
Building Size
6,410 SF
Listing Agency:
Keller Williams Empower
Listed By:
Andre Quain · License #PA RB068858
Source:
Crexi
Added: Apr 16
Changed: Sep 4
Last Checked: Sep 3 at 12:57PM
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 Keller Williams Empower
Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 6,410 square feet arranged as four commercial units. The corner building is zoned CMX-2 and includes a curb cut from 49th Street with on-site parking for approximately eight vehicles. Its existing layout can support separate occupants or a consolidated commercial footprint.
The property fronts Chester Avenue, sits catty-corner from SEPTA Regional Rail, and is served by a trolley line. University City and Center City are accessible by transit, with UPenn, Drexel University, Clark Park, and the Baltimore Avenue corridor nearby.
The zoning and building configuration may support adding residential space above the commercial component or a larger redevelopment plan, including approximately 15–20 residential units, subject to buyer verification of zoning and permitted use.
The property fronts Chester Avenue, sits catty-corner from SEPTA Regional Rail, and is served by a trolley line. University City and Center City are accessible by transit, with UPenn, Drexel University, Clark Park, and the Baltimore Avenue corridor nearby.
The zoning and building configuration may support adding residential space above the commercial component or a larger redevelopment plan, including approximately 15–20 residential units, subject to buyer verification of zoning and permitted use.
Key Highlights
- Approximately 6,410 square feet configured as four commercial units
- CMX‑2 zoning
- Corner property with curb cut along 49th Street
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
$111,726
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
8.63%
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%
$2,234,520
$2.2M
Cap Rate 7%
$1,596,086
$1.6M
Cap Rate 9%
$1,241,400
$1.2M
Market Conditions
NOI Build-Up for 6,410 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
$192.3K $30.00/SF
− Vacancy
−$32.7K −$5.10/SF
EGI
$159.6K $24.90/SF
− OpEx
−$47.9K −$7.47/SF
NOI
$111.7K $17.43/SF
Area
ZIP 19143
Vacancy
17.00%
Lease Rate
$30.00 /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%
$2,234,520
Cap Rate 7%
$1,596,086
Cap Rate 9%
$1,241,400
Alternative Uses
Best Use
Retail
$1.60M
$1.40M – $1.86M
NOI $111,726 @ 7.0% cap · market cap 8.63%
Second Best
Mixed Use
$1.24M
$1.08M – $1.44M
NOI $86,535 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,791 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,785
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Popeyes Louisiana Kitchen
Dining
11,326 visits/mo
0.4 miles
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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 - Four commercial units offer a flexible configuration for occupancy, repositioning, or future mixed-use planning.
Where is this mixed-use property located?
The property is located at 4817-23 Chester Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Approximately 6,410 square feet configured as four commercial units; CMX‑2 zoning; Corner property with curb cut along 49th Street
