Five-Unit Retail Strip
New
For Sale
$2,950,000
5734-38 OLD SECOND ST, Philadelphia, PA 19120
A mixed-use retail property combines restaurant, food-service, and laundromat space with on-site parking.
Property Size18,000 SF
Price / SF$163.89
Days on Market2
Property Features for 5734-38 OLD SECOND ST
General Information
Standard status
Active
Size
18,000 SF
Total Parking Spaces
120
Net Operating Income
$127,225
Financials
Asking Price
$2,950,000
Cap Rate
4.31%
Gross Income
$199,800
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Renovated
2019
Tenancy
Multi
Listing Agency:
Longlong Zhan Real Estate Investment
(610) 574-0988
Listed By:
Wei Lin
(484) 889-2740
Source:
Graves
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:00AM
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 Longlong Zhan Real Estate Investment
Investment Insights
Based on property information with market context.
The five-unit strip center contains 18,000 square feet, with restaurant space, a meat business, and a coin laundromat among its uses. One restaurant space is vacant; a separate unit previously operated as a pizza restaurant. The laundromat has 92 machines, and another unit has central air and heat. The property has a 120-car parking lot.
Renovation work in 2019 included a new roof, wall renovations, sidewalk replacement, and installation of five poles. The laundromat's heating and cooling system was two years old at the time described. The property is reported with a current cap rate of 4.31% and a pro forma cap rate of 7.57%.
Renovation work in 2019 included a new roof, wall renovations, sidewalk replacement, and installation of five poles. The laundromat's heating and cooling system was two years old at the time described. The property is reported with a current cap rate of 4.31% and a pro forma cap rate of 7.57%.
Key Highlights
- 18,000‑square‑foot center with 5 units
- Parking lot accommodates 120 cars
- Coin laundromat has 92 machines and opened in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$178,848
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,576,960
$3.6M
Cap Rate 7%
$2,554,971
$2.6M
Cap Rate 9%
$1,987,200
$2.0M
Market Conditions
NOI Build-Up for 18,000 SF
Gross rent
$259.2K $14.40/SF
− Vacancy
−$20.7K −$1.15/SF
EGI
$238.5K $13.25/SF
− OpEx
−$59.6K −$3.31/SF
NOI
$178.8K $9.94/SF
Area
ZIP 19120
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,576,960
Cap Rate 7%
$2,554,971
Cap Rate 9%
$1,987,200
Alternative Uses
Best Use
Specialty Retail
$2.55M
$2.24M – $2.98M
NOI $178,848 @ 7.0% cap · market cap 6.06%
Second Best
Retail
$2.21M
$1.93M – $2.58M
NOI $154,614 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$4.30M
$3.76M – $5.02M
NOI $300,986 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,515
Businesses Nearby
180k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 36%
Shops & Services 30%
Dining 16%
Apparel 15%
ShopRite
Groceries
55,236 visits/mo
0.3 miles
Burlington
Apparel
23,746 visits/mo
0.2 miles
Dollar Tree
Shops & Services
22,745 visits/mo
0.4 miles
Burger King
Dining
17,746 visits/mo
0.2 miles
Dunkin' Donuts
Dining
10,315 visits/mo
0.5 miles
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Strip mall - A mixed-use retail property combines restaurant, food-service, and laundromat space with on-site parking.
Where is this strip mall located?
The property is located at 5734-38 OLD SECOND ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 18,000‑square‑foot center with 5 units; Parking lot accommodates 120 cars; Coin laundromat has 92 machines and opened in 2019
