Corner Grocery and Convenience
New
For Sale
$610,000
6600 LIMEKILN PIKE, Philadelphia, PA 19138
Corner commercial property combines an operating grocery store with two adaptable vacant units and separate entrances.
Property Size3,550 SF
Days on Market3
Property Features for 6600 LIMEKILN PIKE
General Information
Standard status
Active
Size
3,550 SF
Property subtype
Retail
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,149
Building Details
Building Size
3,550 SF
Year Built
1970
Tenancy
Multi
Listing Agency:
Realty Mark Associates
Listed By:
Steven Gov · License #RS334577
(267) 918-0354
Source:
Lizclarkrealestate
Added: Sep 6
Changed: Sep 8
Last Checked: Sep 8 at 2:32PM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
Built in 1970, this corner grocery and convenience property includes an operating grocery store under a long-term lease, along with two vacant units. The vacant space may function as one larger unit or return to a two-unit configuration, with utilities and separate entrances already in place. Earlier uses included a daycare and a church.
The property sits near a high school and surrounding residential housing, with vehicle and pedestrian activity noted at the corner. Recent work includes sidewalk replacement and other property improvements. The layout supports continued grocery operations while retaining flexible vacant space for occupancy or reconfiguration.
The property sits near a high school and surrounding residential housing, with vehicle and pedestrian activity noted at the corner. Recent work includes sidewalk replacement and other property improvements. The layout supports continued grocery operations while retaining flexible vacant space for occupancy or reconfiguration.
Key Highlights
- Operating grocery store with a long‑term lease in place
- Two vacant units can remain combined or be separated
- Utilities and separate entrances serve the vacant units
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
$51,440
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
8.43%
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%
$1,028,800
$1.0M
Cap Rate 7%
$734,857
$734.9K
Cap Rate 9%
$571,556
$571.6K
Market Conditions
NOI Build-Up for 3,550 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
$74.6K $21.00/SF
− Vacancy
−$6.0K −$1.68/SF
EGI
$68.6K $19.32/SF
− OpEx
−$17.1K −$4.83/SF
NOI
$51.4K $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%
$1,028,800
Cap Rate 7%
$734,857
Cap Rate 9%
$571,556
Alternative Uses
Best Use
Specialty Retail
$734.9K
$643.0K – $857.3K
NOI $51,440 @ 7.0% cap · market cap 8.43%
Second Best
Retail
$573.2K
$501.5K – $668.7K
NOI $40,123 @ 7.0% cap · market cap 6.58%
Theoretical Best
Multifamily LT 5
$865.4K
$757.3K – $1.01M
NOI $60,580 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
43k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Groceries 24%
Apparel 6%
Shops & Services 3%
McDonald's
Dining
21,553 visits/mo
0.3 miles
State Liquor Store
Groceries
10,103 visits/mo
0.5 miles
Little Caesars Pizza
Dining
6,510 visits/mo
0.5 miles
Clarks
Apparel
2,424 visits/mo
0.3 miles
Liberty Tax
Shops & Services
1,198 visits/mo
0.5 miles
Demographics for 19138, PA
31,816
Population
13,836
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
89%
High-School Grad
1.8 sq mi
ZIP Area
17,676
Density / Sq Mi
$51,586
Median Household Income
$36,956
Median Earnings
$1,172
Median Rent
$167,300
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Similar Off Market Nearby
- Our Market S & J Food Market — 6501 Wyncote Ave, Philadelphia, PA 19138
- Leury Mezquita — 6600 Limekiln Pike, Philadelphia, PA 19138
- 8 Brothers — 6600 Limekiln Pike, Philadelphia, PA 19138
- Jimenez Grocery — 6657 Ogontz Ave, Philadelphia, PA 19126
- YMG Stenton Supermarket — 6400 Stenton Ave, Philadelphia, PA 19150
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Corner commercial property combines an operating grocery store with two adaptable vacant units and separate entrances.
Where is this grocery and convenience store located?
The property is located at 6600 LIMEKILN PIKE Philadelphia, PA.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Operating grocery store with a long‑term lease in place; Two vacant units can remain combined or be separated; Utilities and separate entrances serve the vacant units
