West Philadelphia Mixed-Use
5229-31 WESTMINSTER Avenue Philadelphia, PA 19131
5229-31 WESTMINSTER Avenue, Philadelphia, PA, 19131
$399,999
For Sale
$399,999
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,760 SF
Lot Size0.01 Acres
Price / SF$227.27
Days on Market179
Property Features for 5229-31 WESTMINSTER Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Standard status
- Active
- Size
- 1,760 SF
- Lot size
- 0.01 Acres
Taxes and HOA fees
- Tax Annual Amount
- 873
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Masonry
- Architectural style
- Other
Listing Agency
Springer Realty Group
(484) 498-4000
760 Constitution Drive unit: 106, Exton, PA
Listed by
Jermaine Maurice Glover · License #RS375330
(267) 584-7361
Added: Jan 20 Checked: Jul 18 at 12:06 pm
MLS# PAPH2576794
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant mixed-use property is located at 5229-31 Westminster Ave in West Philadelphia. Zoned RM1, the building features a two-story commercial space on the first and second floors, along with a studio apartment on the second floor. Constructed in 1920, the property has a lot size of 0.0125 acres and a property size of 1760 square feet.
Key Highlights
- Mixed‑Use property zoned RM1.
- Two‑story commercial space on the 1st and 2nd floors.
- Studio apartment located on the 2nd floor.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.0k | $21.60 |
| − Vacancy | −$4.6k | −$2.59 |
| EGI | $33.5k | $19.01 |
| − OpEx | −$12.5k | −$7.13 |
| NOI | $20.9k | $11.88 |
1,760 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$298.7K
$261.4K – $348.5K
NOI $20,909 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$429.1K
$375.4K – $500.6K
NOI $30,034 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Day care centers
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Vacant mixed-use property in West Philadelphia, previously zoned for daycare.
Where is this mixed-use property located?
The property is located at 5229-31 WESTMINSTER Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Mixed‑Use property zoned RM1.; Two‑story commercial space on the 1st and 2nd floors.; Studio apartment located on the 2nd floor.
