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    Mixed-Use Multifamily with Catering Title is generated by Realmo AI

    6028 LANSDOWNE Avenue, Philadelphia, PA 19151

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    For Sale
    $174,900

    MULTI_FAMILY - Other - PHILADELPHIA, PA

    Property size:
    1,632 SF
    Lot size:
    0.02 Acres
    Price / SF:
    $107/SF
    Added:
    Jan 30, 2025
    Days on Market:
    492
    Last Refresh:
    Jun 6 at 5:06 pm

    Property Features for 6028 LANSDOWNE Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    Size
    1,632 SF
    Lot size
    0.02 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1251

    Utilities

    Heating system
    Hot Water(Heating)

    Building Details

    Year built
    1920
    Number of units
    3
    Building materials
    Masonry
    Architectural style
    Other

    We can help!

    Listing Contact
    Chris Griswold

    Listing agent Chris Griswold License #RS299531

    Listing office EXP Realty, LLC 630 Freedom Business Ctr Drive unit: 300, Philadelphia, PA

    Listing date Jan 30, 2025

    MLS# PAPH2440410 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use property built in 1920 with masonry construction and hot water heat
    • 1st floor currently operated as a catering and carry‑out business
    • 2nd and 3rd floors feature 1‑bedroom apartments
    • Separate entrance for the 1st‑floor tenant and the 2nd/3rd‑floor apartment units
    • Seller indicates the apartments would need updates to return to the rental market in 30 days or less

    Overview

    This mixed-use multifamily property features a catering and carry-out business on the first floor. The building also includes two 1-bedroom apartments on the second and third floors. The upper units are described as having “great bones,” with updates needed to return them to the rental market.

    The property is located at 6028 Lansdowne Avenue in Philadelphia, Pennsylvania. The seller notes that the two upper-floor units have a separate entrance from the first-floor tenant.

    For buyers looking to add to an existing or future real estate portfolio, the layout offers an owner the ability to support both income streams within the same building: the established first-floor business and the residential units above. With the apartments currently needing updates, this could fit an operator or investor prepared to complete improvements and reintroduce the units to the rental market. Seller is motivated and will consider all offers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Platesfromparis Take-out & Catering Halal Style Soul ... Restaurant Parispreps Restaurant

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.24138
    Latitude
    39.97564

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    FAQs

    What type of property is this?
    Duplex - Three-level property combines a catering/carry-out business with two 1-bedroom apartments and separate access.
    Where is this duplex located?
    The property is located at 6028 LANSDOWNE Avenue Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $174,900.
    What are key features of this property?
    This property features: Mixed‑use property built in 1920 with masonry construction and hot water heat; 1st floor currently operated as a catering and carry‑out business; 2nd and 3rd floors feature 1‑bedroom apartments
    (267) 261-1711
    We can help!
    Listing Contact
    Chris Griswold
    Real Estate License ID: RS299531
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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