Mixed-Use Property with Office
For Sale
$875,000
678 Ferne Boulevard, Drexel Hill, PA 19026
Three-story residence paired with professional office space, parking, and access to public transportation.
Property Size5,700 SF
Price / SF$153.51
Days on Market11
Property Features for 678 Ferne Boulevard
General Information
Standard status
Active
Size
5,700 SF
Building Details
Year Built
1936
Listing Agency:
Long & Foster Real Estate, Inc.
(484) 222-8804
Listed By:
Michael Mulholland · License #RS277114
Source:
Premierehomegroup
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 3:34PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property combines a three-story residential dwelling with an attached professional office addition. The residence includes a covered entry, center hall foyer, family room, enclosed side porch, formal dining room, renovated eat-in kitchen, powder room, bedrooms across the second and third floors, three full bathrooms, and a professionally waterproofed basement. The office component provides 10 offices, 2.5 bathrooms, a conference room, break room, reception area, and parking for 10+ cars.
Located at the corner of Burmont Road and Ferne Boulevard in Drexel Hill, the property is within walking distance of public transportation and offers access to I-476, I-95, Route 1, and Route 3. Philadelphia, the Main Line, West Chester, and King of Prussia are also identified as nearby destinations. Improvements include a slate roof with copper gutters, a French drain installed with the basement waterproofing in 2005, a kitchen renovation in 2025, and new bathroom surrounds in 2026.
Located at the corner of Burmont Road and Ferne Boulevard in Drexel Hill, the property is within walking distance of public transportation and offers access to I-476, I-95, Route 1, and Route 3. Philadelphia, the Main Line, West Chester, and King of Prussia are also identified as nearby destinations. Improvements include a slate roof with copper gutters, a French drain installed with the basement waterproofing in 2005, a kitchen renovation in 2025, and new bathroom surrounds in 2026.
Key Highlights
- Attached professional office addition with 10 offices and 2.5 bathrooms
- Three‑story residential dwelling with bedrooms on the 2nd and 3rd floors
- Conference room, break room, reception area, and parking for 10+ cars
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
$56,430
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
6.45%
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%
$1,128,600
$1.1M
Cap Rate 7%
$806,143
$806.1K
Cap Rate 9%
$627,000
$627.0K
Market Conditions
NOI Build-Up for 5,700 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
$102.6K $18.00/SF
− Vacancy
−$12.3K −$2.16/SF
EGI
$90.3K $15.84/SF
− OpEx
−$33.9K −$5.94/SF
NOI
$56.4K $9.90/SF
Area
Delaware County, PA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,128,600
Cap Rate 7%
$806,143
Cap Rate 9%
$627,000
Alternative Uses
Best Use
Office B
$1.33M
$1.17M – $1.56M
NOI $93,448 @ 7.0% cap · market cap 10.68%
Second Best
Mixed Use
$806.1K
$705.4K – $940.5K
NOI $56,430 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $120,973 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 19026, PA
32,021
Population
13,643
Households
2.3
Avg Household Size
39
Median Age
46%
College-Educated
94%
High-School Grad
3.6 sq mi
ZIP Area
8,895
Density / Sq Mi
$89,079
Median Household Income
$50,930
Median Earnings
$1,316
Median Rent
$243,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story residence paired with professional office space, parking, and access to public transportation.
Where is this mixed-use property located?
The property is located at 678 Ferne Boulevard Drexel Hill, PA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Attached professional office addition with 10 offices and 2.5 bathrooms; Three‑story residential dwelling with bedrooms on the 2nd and 3rd floors; Conference room, break room, reception area, and parking for 10+ cars
