Mixed-Use Retail and Residential
For Sale
$450,000
Pending
5302 WAYNE AVE, Philadelphia, PA 19144
Four residential units and two storefronts are separately metered with all-electric heating and hot water.
Property Size3,291 SF
Days on Market169
Property Features for 5302 WAYNE AVE
General Information
Standard status
Pending
Size
3,291 SF
Property subtype
Multi-family
Site & Location
Neighborhood
Northwest Philadelphia
Listing Agency:
Compass Pennsylvania, LLC
(267) 435-8015
Listed By:
David W Feldman · License #RS305028
(215) 370-6043
Source:
Keygroupmd
Added: May 8
Changed: Oct 7
Last Checked: Oct 23 at 6:17AM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
This mixed-use quadplex includes two storefront spaces and four residential units within a converted Victorian-style structure. The residential component spans three floors with bright unit exposures to the north, south, and east. The property features partial updates across the units. All-electric heating and hot water are provided and the services are separately metered.
The two storefronts have most recently been used for office space and an ice cream store. The property is described as currently ready to deliver vacant. The most recent rents referenced in the remarks include city rental licenses.
Residential units are described as one 2-bedroom unit, two 1-bedroom units, and one efficiency unit, with last rents listed in the remarks. The storefronts’ most recent uses are described as office space in one and an ice cream store in the other.
The two storefronts have most recently been used for office space and an ice cream store. The property is described as currently ready to deliver vacant. The most recent rents referenced in the remarks include city rental licenses.
Residential units are described as one 2-bedroom unit, two 1-bedroom units, and one efficiency unit, with last rents listed in the remarks. The storefronts’ most recent uses are described as office space in one and an ice cream store in the other.
Key Highlights
- Vacant 4‑unit residential building plus two storefronts in West Germantown near Chelten Ave corridor and Wayne Junction
- Two storefronts separately metered: last rents $1,200 (office) and $950 (ice cream store)
- Residential unit mix includes one 2BR at $2,100, two 1BR units at $1,900 and $750, and one efficiency at $600 (last rents)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,196
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,920
$743.9K
Cap Rate 7%
$531,371
$531.4K
Cap Rate 9%
$413,289
$413.3K
Market Conditions
NOI Build-Up for 3,291 SF
Gross rent
$59.2K $18.00/SF
− Vacancy
−$6.1K −$1.85/SF
EGI
$53.1K $16.15/SF
− OpEx
−$15.9K −$4.84/SF
NOI
$37.2K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,920
Cap Rate 7%
$531,371
Cap Rate 9%
$413,289
Alternative Uses
Best Use
Multifamily LT 5
$802.3K
$702.0K – $936.0K
NOI $56,161 @ 7.0% cap · market cap 12.48%
Second Best
Apartment 5plus
$739.5K
$647.1K – $862.8K
NOI $51,766 @ 7.0% cap · market cap 11.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,630
Businesses Nearby
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Business Placement
Demographics for 19144, PA
44,481
Population
23,583
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
90%
High-School Grad
3.6 sq mi
ZIP Area
12,356
Density / Sq Mi
$45,727
Median Household Income
$36,020
Median Earnings
$1,110
Median Rent
$224,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units and two storefronts are separately metered with all-electric heating and hot water.
Where is this quadplex located?
The property is located at 5302 WAYNE AVE Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Vacant 4‑unit residential building plus two storefronts in West Germantown near Chelten Ave corridor and Wayne Junction; Two storefronts separately metered: last rents $1,200 (office) and $950 (ice cream store); Residential unit mix includes one 2BR at $2,100, two 1BR units at $1,900 and $750, and one efficiency at $600 (last rents)
