Open-Plan Mixed-Use
For Sale
$699,000
548 CARPENTER LANE, 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 Market36
Property Features for 548 CARPENTER LANE
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Services
Zoning
CMX-2
Additional Details
Clear Height
11 ft
Taxes and HOA fees
Annual Taxes
$3,156
Building Details
Building Size
1,900 SF
Year Built
1925
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
Marc A. Hammarberg · License #AB067991
(215) 790-5501
Source:
Lizclarkrealestate
Added: Jul 29
Changed: Aug 31
Last Checked: Sep 2 at 2:36AM
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
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 = 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
$22,572
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
3.23%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in Philadelphia, PA
Questions? Ask Rey
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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 LANE 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
