Mixed-Use Duplex with Separate
New
For Sale
$475,000
535 E GIRARD Avenue, Philadelphia, PA 19125
Multi-Family, PHILADELPHIA, PA
Property Size1,879 SF
Lot Size0.02 Acres
Price / SF$252.79
Days on Market1
Property Features for 535 E GIRARD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement, Family Room
Parking features
On Street
Interior features
Additional Stairway, Bathroom - Tub Shower, Family Room Off Kitchen, Kitchen - Eat-In, Kitchenette, 2nd Kitchen, Primary Bath(s), Walk-in Closet(s), Wood Floors
Fireplace
1
Appliances
Dishwasher, Dryer, Freezer, Microwave, Oven/Range - Gas, Refrigerator, Washer, WaterHeater
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,879 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1808
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1915
Number of units
2
Building materials
Masonry
Listing Agency:
JG Real Estate LLC
(215) 467-4100
Listed By:
James Armstrong · License #RS346266
(215) 380-2909
Added: Sep 3
Last Checked: Sep 3 at 11:06PM
MLS# PAPH2666816
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 1,879-square-foot mixed-use duplex contains one commercial unit and one residential unit within a 1915 masonry building. The street-facing commercial space is leased to a nail salon and includes hardwood flooring, exposed brick, large front windows, a raised entry, rear rooms, a bathroom with shelving, and access to a small patio. An unfinished basement provides additional storage.
The upper-level residence is a bi-level one-bedroom apartment with a private entrance, high ceilings, exposed brick, hardwood floors, and oversized windows. Its main level includes a living area and eat-in kitchen equipped with cabinetry, a gas range, dishwasher, and in-unit laundry. The bedroom has a walk-in closet, and the unit includes a bathroom with modern finishes. The property is fully occupied and situated along Girard Avenue in Philadelphia’s Fishtown area, with on-street parking.
The upper-level residence is a bi-level one-bedroom apartment with a private entrance, high ceilings, exposed brick, hardwood floors, and oversized windows. Its main level includes a living area and eat-in kitchen equipped with cabinetry, a gas range, dishwasher, and in-unit laundry. The bedroom has a walk-in closet, and the unit includes a bathroom with modern finishes. The property is fully occupied and situated along Girard Avenue in Philadelphia’s Fishtown area, with on-street parking.
Key Highlights
- 1,879 SF mixed‑use duplex with one commercial unit and one residential unit
- Commercial space leased to a nail salon with large front windows and street‑level access
- Bi‑level one‑bedroom apartment with a private entrance and walk‑in closet
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
$32,065
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
6.75%
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%
$641,300
$641.3K
Cap Rate 7%
$458,071
$458.1K
Cap Rate 9%
$356,278
$356.3K
Market Conditions
NOI Build-Up for 1,879 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
$48.5K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$45.8K $24.38/SF
− OpEx
−$13.7K −$7.31/SF
NOI
$32.1K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$641,300
Cap Rate 7%
$458,071
Cap Rate 9%
$356,278
Alternative Uses
Best Use
Multifamily LT 5
$458.1K
$400.8K – $534.4K
NOI $32,065 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$422.2K
$369.5K – $492.6K
NOI $29,556 @ 7.0% cap · market cap 6.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
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?
Mixed-use property - Combines a street-level commercial suite with a bi-level one-bedroom apartment.
Where is this mixed-use property located?
The property is located at 535 E GIRARD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,879 SF mixed‑use duplex with one commercial unit and one residential unit; Commercial space leased to a nail salon with large front windows and street‑level access; Bi‑level one‑bedroom apartment with a private entrance and walk‑in closet
