Grocery-Style Storefront Retail
For Sale
$350,000
32-Market N 60th St N, Philadelphia, PA 19139
For sale storefront retail space well-suited for neighborhood retail and convenience-oriented concepts.
Property Size2,009 SF
Price / SF$174.22
Days on Market130
Property Features for 32-Market N 60th St N
General Information
Standard status
Active
Size
2,009 SF
Taxes and HOA fees
Annual Taxes
$1,681
Amenities
Hot Water, Natural Gas
Street
On Street
Building Details
Building Size
2,009 SF
Year Built
1920
Stories
4
Listing Agency:
Premium Realty Castor Inc
(267) 242-5429
Listed By:
Susan Ear
(267) 242-5429
Source:
Evrealestate
Added: Apr 2
Changed: Aug 8
Last Checked: Jul 16 at 7:01AM
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 Premium Realty Castor Inc
Investment Insights
Based on property information with market context.
This for-sale storefront retail space is configured as a grocery and convenience-focused environment, offering approximately 2,009 square feet of usable area. The property is positioned as a retail storefront opportunity within the broader category of retail spaces.
The property is located at 32-Market N 60th St N in Philadelphia, PA 19139, in Philadelphia County. Directions provided are from North on Market Street, making a left on 60th Street.
The tenant or buyer fit is best aligned with uses that benefit from a direct storefront setup for everyday shopping and convenience-based retail. With its dedicated retail orientation and storefront character, the space can be considered for operators looking for a compact footprint to support neighborhood-based foot traffic. This is an opportunity to acquire a retail storefront property priced for ownership within the retail and commercial real estate market.
The property is located at 32-Market N 60th St N in Philadelphia, PA 19139, in Philadelphia County. Directions provided are from North on Market Street, making a left on 60th Street.
The tenant or buyer fit is best aligned with uses that benefit from a direct storefront setup for everyday shopping and convenience-based retail. With its dedicated retail orientation and storefront character, the space can be considered for operators looking for a compact footprint to support neighborhood-based foot traffic. This is an opportunity to acquire a retail storefront property priced for ownership within the retail and commercial real estate market.
Key Highlights
- Hot water and natural gas heating
- Year built: 1920
- On‑street parking
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
$29,110
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
8.32%
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%
$582,200
$582.2K
Cap Rate 7%
$415,857
$415.9K
Cap Rate 9%
$323,444
$323.4K
Market Conditions
NOI Build-Up for 2,009 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
$42.2K $21.00/SF
− Vacancy
−$3.4K −$1.68/SF
EGI
$38.8K $19.32/SF
− OpEx
−$9.7K −$4.83/SF
NOI
$29.1K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$582,200
Cap Rate 7%
$415,857
Cap Rate 9%
$323,444
Alternative Uses
Best Use
Specialty Retail
$415.9K
$363.9K – $485.2K
NOI $29,110 @ 7.0% cap · market cap 8.32%
Second Best
Retail
$324.4K
$283.8K – $378.4K
NOI $22,706 @ 7.0% cap · market cap 6.49%
Theoretical Best
Multifamily LT 5
$489.8K
$428.5K – $571.4K
NOI $34,283 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,727
Businesses Nearby
49k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 8%
Home Improvements & Furnishings 4%
Electronics 3%
Visionworks
Shops & Services
5,619 visits/mo
0.4 miles
Bank of America
Shops & Services
5,613 visits/mo
0.3 miles
Wells Fargo
Shops & Services
5,176 visits/mo
0.4 miles
Shell
Shops & Services
4,780 visits/mo
0.3 miles
The UPS Store
Shops & Services
4,441 visits/mo
0.4 miles
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chestnut Hill Flower & Garden — 7639 Germantown Ave, Philadelphia, PA 19118
- Flower store — 8505 Germantown Ave, Philadelphia, PA 19118
Frequently Asked Questions
What type of property is this?
Storefront property - For sale storefront retail space well-suited for neighborhood retail and convenience-oriented concepts.
Where is this storefront property located?
The property is located at 32-Market N 60th St N Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Hot water and natural gas heating; Year built: 1920; On‑street parking
