Mixed-Use Storefront
For Sale
$350,000
6729 Elmwood Ave, Philadelphia, PA 19142
Finished basement and separate-entry upper level support distinct commercial and residential configurations.
Property Size1,684 SF
Price / SF$207.84
Days on Market48
Property Features for 6729 Elmwood Ave
General Information
Standard status
Active
Size
1,684 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Nova Realty, LLC
Listed By:
Lawrence M Eburuoh · License #RM424250
(215) 365-8200
Source:
Upgradebymichaud
Added: Jul 30
Changed: Sep 10
Last Checked: Sep 14 at 4:45PM
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 Nova Realty, LLC
Investment Insights
Based on property information with market context.
This mixed-use storefront property features a fully finished ground floor configured as a large open retail or office space. The basement adds another large open area, an additional room, half bathroom, and storage space. The upper level has a separate entrance and includes two bedrooms, a generous living room, full bathroom, and kitchen.
The building includes separate central air conditioning on each unit, a heat pump, and separate utilities. The roof was replaced 3 months ago. The property is currently empty and available for showing through a lockbox.
The building includes separate central air conditioning on each unit, a heat pump, and separate utilities. The roof was replaced 3 months ago. The property is currently empty and available for showing through a lockbox.
Key Highlights
- Ground floor includes a large finished retail or office space
- Finished basement with large open area, additional room, half bathroom, and storage
- Upper level has a separate entrance, 2 bedrooms, living room, full bathroom, and kitchen
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
$26,489
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
7.57%
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%
$529,780
$529.8K
Cap Rate 7%
$378,414
$378.4K
Cap Rate 9%
$294,322
$294.3K
Market Conditions
NOI Build-Up for 1,684 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
$51.1K $30.36/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$48.2K $28.60/SF
− OpEx
−$21.7K −$12.87/SF
NOI
$26.5K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$529,780
Cap Rate 7%
$378,414
Cap Rate 9%
$294,322
Alternative Uses
Best Use
Apartment 5plus
$378.4K
$331.1K – $441.5K
NOI $26,489 @ 7.0% cap · market cap 7.57%
Second Best
Office B
$316.6K
$277.0K – $369.4K
NOI $22,161 @ 7.0% cap · market cap 6.33%
Theoretical Best
Multifamily LT 5
$410.5K
$359.2K – $479.0K
NOI $28,737 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Finished basement and separate-entry upper level support distinct commercial and residential configurations.
Where is this mixed-use property located?
The property is located at 6729 Elmwood Ave 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: Ground floor includes a large finished retail or office space; Finished basement with large open area, additional room, half bathroom, and storage; Upper level has a separate entrance, 2 bedrooms, living room, full bathroom, and kitchen
