Two-Building Office and Residential
For Sale
$590,000
6721 Elmwood Ave, Philadelphia, PA 19142
Two connected buildings feature office-ready rooms with powder rooms and three apartments on the second floor.
Property Size4,440 SF
Price / SF$132.88
Days on Market183
Property Features for 6721 Elmwood Ave
General Information
Standard status
Active
Size
4,440 SF
Site & Location
Neighborhood
Southwest Philadelphia
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
George A Moscony Real Estate
Listed By:
George A Moscony · License #RM061062A
(215) 365-6030
Source:
Kableteam
Added: Apr 24
Changed: Oct 2
Last Checked: Oct 5 at 9:33PM
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 George A Moscony Real Estate
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Investment Insights
Based on property information with market context.
This property includes two buildings together at 6721 and 6723 Elmwood Avenue. The available office/store layout includes two large rooms combined with two powder rooms and space for a kitchen. The second floor contains three apartments total.
The listing is offered for sale. The property is positioned along Elmwood Avenue in Philadelphia, PA, and is presented as an opportunity for store and office use.
Overall, the configuration provides a mix of commercial space on the primary level and multiple residential units on the second floor, with the two buildings functioning as a single offering.
The listing is offered for sale. The property is positioned along Elmwood Avenue in Philadelphia, PA, and is presented as an opportunity for store and office use.
Overall, the configuration provides a mix of commercial space on the primary level and multiple residential units on the second floor, with the two buildings functioning as a single offering.
Key Highlights
- Two connected buildings at 6721 and 6723 Elmwood Ave
- Office/store portion includes 2 large rooms plus 2 powder rooms and room for a kitchen
- Second floor has 3 apartments total
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,182
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,640
$1.0M
Cap Rate 7%
$716,886
$716.9K
Cap Rate 9%
$557,578
$557.6K
Market Conditions
NOI Build-Up for 4,440 SF
Gross rent
$79.9K $18.00/SF
− Vacancy
−$8.2K −$1.85/SF
EGI
$71.7K $16.15/SF
− OpEx
−$21.5K −$4.84/SF
NOI
$50.2K $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 Rate 5%
$1,003,640
Cap Rate 7%
$716,886
Cap Rate 9%
$557,578
Alternative Uses
Best Use
Office B
$834.7K
$730.4K – $973.8K
NOI $58,428 @ 7.0% cap · market cap 9.90%
Second Best
Retail
$716.9K
$627.3K – $836.4K
NOI $50,182 @ 7.0% cap · market cap 8.51%
Theoretical Best
Multifamily LT 5
$1.08M
$947.1K – $1.26M
NOI $75,768 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 19142, PA
29,565
Population
12,943
Households
2.3
Avg Household Size
33
Median Age
13%
College-Educated
82%
High-School Grad
1.7 sq mi
ZIP Area
17,391
Density / Sq Mi
$42,812
Median Household Income
$32,763
Median Earnings
$1,269
Median Rent
$110,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Office unit - Two connected buildings feature office-ready rooms with powder rooms and three apartments on the second floor.
Where is this office unit located?
The property is located at 6721 Elmwood Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two connected buildings at 6721 and 6723 Elmwood Ave; Office/store portion includes 2 large rooms plus 2 powder rooms and room for a kitchen; Second floor has 3 apartments total
