Two-Building Office and Residential
For Sale
$700,000
6721 Elmwood Avenue, 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$157.66
Days on Market221
Property Features for 6721 Elmwood Avenue
General Information
Standard status
Active
Size
4,440 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,836
Amenities
OFFICE/STORE WITH APTS
Driveway.
36.50 x 71.00
Building Details
Year Built
1920
Listing Agency:
George A Moscony Real Estate
Listed By:
George Moscony · License #RM061062A
(215) 365-6030
Source:
Xome
Added: Jan 29
Changed: Sep 1
Last Checked: Sep 7 at 4:30AM
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
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 = 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
$58,428
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
8.35%
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%
$1,168,560
$1.2M
Cap Rate 7%
$834,686
$834.7K
Cap Rate 9%
$649,200
$649.2K
Market Conditions
NOI Build-Up for 4,440 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
$97.5K $21.96/SF
− Vacancy
−$19.6K −$4.41/SF
EGI
$77.9K $17.55/SF
− OpEx
−$19.5K −$4.39/SF
NOI
$58.4K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /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%
$1,168,560
Cap Rate 7%
$834,686
Cap Rate 9%
$649,200
Alternative Uses
Best Use
Office B
$834.7K
$730.4K – $973.8K
NOI $58,428 @ 7.0% cap · market cap 8.35%
Second Best
Retail
$716.9K
$627.3K – $836.4K
NOI $50,182 @ 7.0% cap · market cap 7.17%
Theoretical Best
Multifamily LT 5
$1.08M
$947.1K – $1.26M
NOI $75,768 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two connected buildings feature office-ready rooms with powder rooms and three apartments on the second floor.
Where is this office units located?
The property is located at 6721 Elmwood Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $700,000.
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
