CMX-2 Mixed-Use
For Sale
$1,350,000
546548 CARPENTER LANE, Philadelphia, PA 19119
Two connected buildings offer open commercial interiors, basement access, and loading capability in a neighborhood retail setting.
Property Size3,804 SF
Price / SF$354.89
Days on Market55
Property Features for 546548 CARPENTER LANE
General Information
Standard status
Active
Size
3,804 SF
Property subtype
Retail
Zoning
CMX-2
Taxes and HOA fees
Annual Taxes
$3,156
Amenities
expansive open floor plans
eleven-foot ceilings
rooftop industrial ventilation fans
one full bathroom
three half baths
three interior stairways
individual sidewalk steel cellar entrances
newly installed torch-down roof
45-foot loading zone
Ceiling Fan(s)
3
Concrete, Wood
Rubber
Parking.
On Street.
20.00 x 84.00
Other.
Building Details
Year Built
1925
Buildings
2
Listing Agency:
BHHS Fox & Roach At the Harper, Rittenhouse Square
(215) 546-0550
Listed By:
Marc Hammarberg · License #AB067991
(215) 790-5501
Source:
Xome
Added: Jul 11
Changed: Sep 3
Last Checked: Sep 2 at 2:20PM
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 BHHS Fox & Roach At the Harper, Rittenhouse Square
Investment Insights
Based on property information with market context.
This mixed-use property consists of two separately deeded parcels configured as one functional commercial space, with approximately 3,800 square feet across the connected buildings. Open interior areas link through multiple openings, including basement access, and feature 11-foot ceilings, rooftop industrial ventilation fans, one full bathroom, three half baths, and three interior stairways to the basement. Each building also has its own sidewalk steel cellar entrance. A newly installed torch-down modified bitumen roof is in place.
The property is zoned CMX-2 Mixed Use, supporting commercial, mixed-use, and redevelopment concepts subject to applicable approvals. It operated as a neighborhood dry-cleaning business for more than six decades. Approximately 45 feet of designated loading zone runs along the front. The property is across from Weavers Way Co-op and near the Germantown Avenue corridor, within an established neighborhood commercial setting.
The property is zoned CMX-2 Mixed Use, supporting commercial, mixed-use, and redevelopment concepts subject to applicable approvals. It operated as a neighborhood dry-cleaning business for more than six decades. Approximately 45 feet of designated loading zone runs along the front. The property is across from Weavers Way Co-op and near the Germantown Avenue corridor, within an established neighborhood commercial setting.
Key Highlights
- CMX‑2 Mixed Use zoning supports commercial, mixed‑use, and redevelopment concepts subject to applicable approvals
- Two separately deeded parcels are combined into one functional commercial space
- 11‑foot ceilings, open interiors, basement access, and rooftop industrial ventilation fans
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
$45,192
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
3.35%
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%
$903,840
$903.8K
Cap Rate 7%
$645,600
$645.6K
Cap Rate 9%
$502,133
$502.1K
Market Conditions
NOI Build-Up for 3,804 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
$82.2K $21.60/SF
− Vacancy
−$9.9K −$2.59/SF
EGI
$72.3K $19.01/SF
− OpEx
−$27.1K −$7.13/SF
NOI
$45.2K $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$903,840
Cap Rate 7%
$645,600
Cap Rate 9%
$502,133
Alternative Uses
Best Use
Mixed Use
$645.6K
$564.9K – $753.2K
NOI $45,192 @ 7.0% cap · market cap 3.35%
Second Best
Retail
$614.2K
$537.4K – $716.6K
NOI $42,994 @ 7.0% cap · market cap 3.18%
Theoretical Best
Multifamily LT 5
$927.4K
$811.4K – $1.08M
NOI $64,915 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
8,550 visits/mo
0.4 miles
Demographics for 19119, PA
27,265
Population
13,909
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
8,019
Density / Sq Mi
$81,609
Median Household Income
$54,598
Median Earnings
$1,291
Median Rent
$326,600
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 - Two connected buildings offer open commercial interiors, basement access, and loading capability in a neighborhood retail setting.
Where is this mixed-use property located?
The property is located at 546548 CARPENTER LANE 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: CMX‑2 Mixed Use zoning supports commercial, mixed‑use, and redevelopment concepts subject to applicable approvals; Two separately deeded parcels are combined into one functional commercial space; 11‑foot ceilings, open interiors, basement access, and rooftop industrial ventilation fans
