Fishtown Mixed-Use Corner
For Sale
Contact for pricing
541 E Girard Ave, Philadelphia, PA 19125
Mixed-use building with bar space and residential units in Fishtown.
Property Size3,285 SF
Lot Size0.04 Acres
Price / SF$410.96
Days on Market162
Property Features for 541 E Girard Ave
General Information
Standard status
Active
Size
3,285 SF
Lot size
0.04 Acres
Property subtype
Retail
Zoning
CMX-2
Building Details
Year Built
1915
Year Renovated
2018
Buildings
1
Stories
3
Units
3
Listing Agency:
MPN Realty, Inc.
(215) 413-4900
Listed By:
Veronica Blum · License #PA
Source:
Crexi
Added: Mar 4
Changed: Aug 8
Last Checked: Aug 8 at 6:33AM
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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
Located in Philadelphia's Fishtown neighborhood, the mixed-use building at 541 East Girard Avenue offers 3,285 square feet of space on a 1,600 square foot lot. The corner property features frontage on both East Girard Avenue and East Montgomery Avenue, providing visibility and foot traffic for the 1,500 square foot ground-floor bar space. The location was previously occupied by Kraftwork for over 20 years. The upper floors contain two bi-level residential units, each with two bedrooms and two bathrooms. This setup offers a live-work opportunity or supplemental rental income in a high-demand market. Fishtown is known for its bars, restaurants, and nightlife. The location provides access to the I-95 corridor and I-676 exchange, as well as the E Girard and Palmer St light rail stop and local mass transit.
Key Highlights
- Prime Fishtown location in a rapidly gentrifying neighborhood known for its vibrant bar and restaurant scene.
- Mixed‑use building featuring a 1,500 SF ground‑floor bar space and two bi‑level, 2‑bedroom, 2‑bath residential units.
- Proven hospitality location previously occupied by Kraftwork bar for over 20 years.
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
$51,671
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
3.83%
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%
$1,033,420
$1.0M
Cap Rate 7%
$738,157
$738.2K
Cap Rate 9%
$574,122
$574.1K
Market Conditions
NOI Build-Up for 3,285 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
$99.7K $30.36/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$93.9K $28.60/SF
− OpEx
−$42.3K −$12.87/SF
NOI
$51.7K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,033,420
Cap Rate 7%
$738,157
Cap Rate 9%
$574,122
Alternative Uses
Best Use
Apartment 5plus
$738.2K
$645.9K – $861.2K
NOI $51,671 @ 7.0% cap · market cap 3.83%
Second Best
Specialty Retail
$680.0K
$595.0K – $793.3K
NOI $47,600 @ 7.0% cap · market cap 3.53%
Theoretical Best
Multifamily LT 5
$800.8K
$700.7K – $934.3K
NOI $56,058 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,561
Businesses Nearby
136k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 27%
Groceries 20%
Electronics 8%
The Richmond Bottle Shop
Groceries
27,246 visits/mo
0.5 miles
Dollar Tree
Shops & Services
24,165 visits/mo
0.4 miles
Starbucks
Dining
22,344 visits/mo
0.4 miles
Citizens Bank
Shops & Services
8,535 visits/mo
0.4 miles
GameStop
Electronics
6,888 visits/mo
0.4 miles
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 Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with bar space and residential units in Fishtown.
Where is this mixed-use property located?
The property is located at 541 E Girard Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime Fishtown location in a rapidly gentrifying neighborhood known for its vibrant bar and restaurant scene.; Mixed‑use building featuring a **1,500 SF ground‑floor bar space** and two bi‑level, 2‑bedroom, 2‑bath residential units.; Proven hospitality location previously occupied by Kraftwork bar for over 20 years.
