Two-Story Office Building with
For Sale
$2,900,000
6044-52 CASTOR AVE, Philadelphia, PA 19149
CMX1-zoned office property with multiple suites, private bathrooms, and a mix of occupied and available space.
Property Size17,595 SF
Price / SF$164.82
Days on Market48
Property Features for 6044-52 CASTOR AVE
General Information
Standard status
Active
Size
17,595 SF
Elevators
Yes
Zoning
CMX1
Occupancy
80%
Additional Details
Gross Income
$136,800
Road Access
Yes
Office Units
5
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Re/Max One Realty
(215) 953-8800
Listed By:
Christine T Cole · License #RS219967L
Source:
Sandrasellstheshore
Added: Jul 16
Changed: Aug 31
Last Checked: Aug 31 at 5:10PM
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 Re/Max One Realty
Investment Insights
Based on property information with market context.
This two-story office property at 6044-52 Castor Avenue includes approximately 10,870 square feet of first-floor suite area and an additional 6,725 square feet across the second floor, excluding the respective foyers. The building features a ceramic-tile entry foyer with glass double doors, elevator and stair access, five basements, and private bathrooms serving every suite. The second level contains three suites, while first-floor Suite 102 offers direct street and basement access and may be reconfigured into two suites.
Four of the five units are currently rented, with Suite 102 recently vacated. Tenants are billed for utilities and use and occupancy expenses. The fire alarm and elevator are certified and inspected annually. Located on Castor Avenue in Philadelphia, the property benefits from exposure to both pedestrian and vehicular traffic, nearby residential areas, schools, transportation, and street parking.
Four of the five units are currently rented, with Suite 102 recently vacated. Tenants are billed for utilities and use and occupancy expenses. The fire alarm and elevator are certified and inspected annually. Located on Castor Avenue in Philadelphia, the property benefits from exposure to both pedestrian and vehicular traffic, nearby residential areas, schools, transportation, and street parking.
Key Highlights
- Approximately 17,595 SF of suite area across two floors, excluding both foyers
- CMX1 zoning supports office, medical, child care, retail, and other listed uses subject to due diligence
- Four of five units are rented; Suite 102 is recently vacant
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
$256,535
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
8.85%
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%
$5,130,700
$5.1M
Cap Rate 7%
$3,664,786
$3.7M
Cap Rate 9%
$2,850,389
$2.9M
Market Conditions
NOI Build-Up for 17,595 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
$475.1K $27.00/SF
− Vacancy
−$47.5K −$2.70/SF
EGI
$427.6K $24.30/SF
− OpEx
−$171.0K −$9.72/SF
NOI
$256.5K $14.58/SF
Area
ZIP 19149
Vacancy
10.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$5,130,700
Cap Rate 7%
$3,664,786
Cap Rate 9%
$2,850,389
Alternative Uses
Best Use
Office B
$3.95M
$3.46M – $4.61M
NOI $276,622 @ 7.0% cap · market cap 9.54%
Second Best
Healthcare Medical
$3.66M
$3.21M – $4.28M
NOI $256,535 @ 7.0% cap · market cap 8.85%
Theoretical Best
Apartment 5plus
$33.69M
$29.48M – $39.30M
NOI $2,358,191 @ 7.0% cap · market cap 81.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Office units
80%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - CMX1-zoned office property with multiple suites, private bathrooms, and a mix of occupied and available space.
Where is this office building located?
The property is located at 6044-52 CASTOR AVE Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Approximately 17,595 SF of suite area across two floors, excluding both foyers; CMX1 zoning supports office, medical, child care, retail, and other listed uses subject to due diligence; Four of five units are rented; Suite 102 is recently vacant
