Grocery & Convenience Store with Central
For Sale
$354,999
6223 MARKET STREET, Philadelphia, PA 19139
Grocery and convenience store with central air and multiple electric and forced-air heating systems.
Property Size2,682 SF
Days on Market31
Property Features for 6223 MARKET STREET
General Information
Standard status
Active
Size
2,682 SF
Zoning
CMX2
Taxes and HOA fees
Annual Taxes
$2,207
Amenities
Central Air, Wall Unit(s), Electric
Electric, Forced Air, Baseboard
Electric Water Heater, Gas Water Heater
On Street
Building Details
Building Size
2,682 SF
Year Built
1915
Listing Agency:
(215) 203-6376
Listed By:
Kellie S Travis
(215) 203-6376
Source:
Evrealestate
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 29 at 7:48AM
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 Kellie S Travis
Investment Insights
Based on property information with market context.
This grocery and convenience store space includes central air along with electric wall units and an electric forced-air/baseboard heating setup. The property also lists electric and gas water heaters, with electric water heater and gas water heater present.
The exterior features an on-street setting, and the property was built in 1915. The address is 6223 Market Street, Philadelphia, PA 19139.
For tenants and buyers looking for a neighborhood retail and convenience format, the combination of central cooling, mixed electric heating sources, and both electric and gas water heating provides a defined baseline of in-place building systems.
The exterior features an on-street setting, and the property was built in 1915. The address is 6223 Market Street, Philadelphia, PA 19139.
For tenants and buyers looking for a neighborhood retail and convenience format, the combination of central cooling, mixed electric heating sources, and both electric and gas water heating provides a defined baseline of in-place building systems.
Key Highlights
- Central air for cooling
- Electric wall units and electric forced air/baseboard heating
- Electric and gas water heaters
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
$30,313
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
8.54%
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%
$606,260
$606.3K
Cap Rate 7%
$433,043
$433.0K
Cap Rate 9%
$336,811
$336.8K
Market Conditions
NOI Build-Up for 2,682 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
$48.3K $18.00/SF
− Vacancy
−$5.0K −$1.85/SF
EGI
$43.3K $16.15/SF
− OpEx
−$13.0K −$4.84/SF
NOI
$30.3K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$606,260
Cap Rate 7%
$433,043
Cap Rate 9%
$336,811
Alternative Uses
Best Use
Specialty Retail
$555.2K
$485.8K – $647.7K
NOI $38,862 @ 7.0% cap · market cap 10.95%
Second Best
Retail
$433.0K
$378.9K – $505.2K
NOI $30,313 @ 7.0% cap · market cap 8.54%
Theoretical Best
Multifamily LT 5
$653.8K
$572.1K – $762.8K
NOI $45,768 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,620
Businesses Nearby
35k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 37%
Electronics 7%
Dunkin' Donuts
Dining
12,945 visits/mo
0.5 miles
Exxon
Shops & Services
10,451 visits/mo
0.3 miles
The UPS Store
Shops & Services
4,833 visits/mo
0.5 miles
Ace Cash Express
Shops & Services
2,719 visits/mo
0.2 miles
Boost Mobile
Electronics
2,451 visits/mo
0.2 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
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Similar Off Market Nearby
- The Fresh Grocer of Upper Darby — 421 S 69th St, Upper Darby, PA 19082
- P&G Super Market — 5900 Cedar Ave, Philadelphia, PA 19143
- Larchwood Supermarket IV INC — 5800 Larchwood Ave, Philadelphia, PA 19143
- E&B Super Market — 447 S 55th St, Philadelphia, PA 19143
- Geo Supermarket & Halal Meat — 234 S 69th St, Upper Darby, PA 19082
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Grocery and convenience store with central air and multiple electric and forced-air heating systems.
Where is this grocery and convenience store located?
The property is located at 6223 MARKET STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $354,999.
What are key features of this property?
This property features: Central air for cooling; Electric wall units and electric forced air/baseboard heating; Electric and gas water heaters
