Open-Plan Mixed-Use
For Sale
$699,000
548 Carpenter Ln, Philadelphia, PA 19119
CMX-2 zoning and commercial improvements support flexible occupancy and redevelopment possibilities, subject to applicable approvals.
Property Size1,900 SF
Price / SF$367.89
Days on Market51
Property Features for 548 Carpenter Ln
General Information
Standard status
Active
Size
1,900 SF
Zoning
CMX-2
Additional Details
Clear Height
11 ft
Building Details
Year Built
1925
Building Size
1,900 SF
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
Marc A. Hammarberg · License #AB067991
(215) 790-5501
Source:
Kandorre
Added: Aug 28
Changed: Oct 11
Last Checked: Oct 7 at 1:48PM
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 The Harper at Rittenhouse Square
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Investment Insights
Based on property information with market context.
548 Carpenter Lane is a separately deeded commercial parcel of approximately 1,900 square feet with an open interior layout and ceilings measuring about 11 feet. The building includes rooftop industrial ventilation equipment, one half bathroom, basement access, and a dedicated sidewalk steel cellar entrance. A recently installed torch-down modified bitumen roof is also in place. The parcel is currently connected to 546 Carpenter Lane through interior openings and shared access to the basement, rear yard, and roof structure, although it is being offered independently.
The property carries CMX-2 Mixed Use zoning and includes approximately 22.5 feet of designated loading zone along the frontage. It sits across from Weavers Way Co-op and near the Germantown Avenue corridor within a neighborhood commercial setting in Mount Airy, Northwest Philadelphia. The space has operated as part of a neighborhood dry-cleaning business for more than six decades and may accommodate commercial, mixed-use, or redevelopment plans subject to applicable approvals.
The property carries CMX-2 Mixed Use zoning and includes approximately 22.5 feet of designated loading zone along the frontage. It sits across from Weavers Way Co-op and near the Germantown Avenue corridor within a neighborhood commercial setting in Mount Airy, Northwest Philadelphia. The space has operated as part of a neighborhood dry-cleaning business for more than six decades and may accommodate commercial, mixed-use, or redevelopment plans subject to applicable approvals.
Key Highlights
- Separately deeded 548 Carpenter Lane parcel offered individually
- Approximately 1,900 square feet with an open floor plan
- Ceilings of approximately 11 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,572
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,440
$451.4K
Cap Rate 7%
$322,457
$322.5K
Cap Rate 9%
$250,800
$250.8K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$41.0K $21.60/SF
− Vacancy
−$4.9K −$2.59/SF
EGI
$36.1K $19.01/SF
− OpEx
−$13.5K −$7.13/SF
NOI
$22.6K $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 Rate 5%
$451,440
Cap Rate 7%
$322,457
Cap Rate 9%
$250,800
Alternative Uses
Best Use
Mixed Use
$322.5K
$282.2K – $376.2K
NOI $22,572 @ 7.0% cap · market cap 3.23%
Second Best
Flex RnD
$285.8K
$250.1K – $333.5K
NOI $20,007 @ 7.0% cap · market cap 2.86%
Theoretical Best
Multifamily LT 5
$463.2K
$405.3K – $540.4K
NOI $32,423 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
11 ft
Clear height
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - CMX-2 zoning and commercial improvements support flexible occupancy and redevelopment possibilities, subject to applicable approvals.
Where is this mixed-use property located?
The property is located at 548 Carpenter Ln Philadelphia, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Separately deeded 548 Carpenter Lane parcel offered individually; Approximately 1,900 square feet with an open floor plan; Ceilings of approximately 11 feet
