Mixed-Use Residential and Office
For Sale
$875,000
678 FERNE Boulevard, Drexel Hill, PA 19026
MULTI_FAMILY - Colonial - DREXEL HILL, PA
Property Size5,400 SF
Price / SF$162.04
Days on Market48
Property Features for 678 FERNE Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
10
Parking features
On Street, Driveway, Parking Lot
High school
UPPER DARBY SENIOR
Elementary school district
UPPER DARBY
Middle school district
UPPER DARBY
High school district
UPPER DARBY
Standard status
Active
Size
5,400 SF
Taxes and HOA fees
Tax Annual Amount
24058
Utilities
Heating system
Radiant
Cooling system
Central Air
Building Details
Year built
1936
Number of units
1
Architectural style
Colonial
Listing Agency:
Long & Foster Real Estate, Inc.
(610) 892-8300
Listed By:
Michael Mulholland · License #RS277114
(484) 222-8804
Added: Jul 13
Last Checked: Aug 29 at 10:06AM
MLS# PADE2118150
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
678 Ferne Boulevard is a mixed-use property with a three-story residential dwelling and an attached professional office addition. The main house includes a covered front entry, center hall foyer, family room, enclosed side porch, formal dining room, a renovated eat-in kitchen, a main floor powder room, three-quarter second-floor bedrooms with two full bathrooms, and two additional third-floor bedrooms with a hall bathroom. The property also features a professionally waterproofed basement.
The attached office portion is designed for professional use and includes 10 total offices, 2.5 bathrooms, a conference room, a break room, a reception area, and parking for 10+ vehicles. The slate roof with copper gutters and basement waterproofing with a French drain were completed in 2005, with a renovated kitchen in 2025 and new bathroom surrounds in 2026. The property sits at the corner of Burmont Rd. and Ferne Blvd and is within walking distance to public transportation, with short drives to I476, I95, Rt. 1, Rt. 3, Philadelphia, the Main Line, West Chester, and King of Prussia.
The attached office portion is designed for professional use and includes 10 total offices, 2.5 bathrooms, a conference room, a break room, a reception area, and parking for 10+ vehicles. The slate roof with copper gutters and basement waterproofing with a French drain were completed in 2005, with a renovated kitchen in 2025 and new bathroom surrounds in 2026. The property sits at the corner of Burmont Rd. and Ferne Blvd and is within walking distance to public transportation, with short drives to I476, I95, Rt. 1, Rt. 3, Philadelphia, the Main Line, West Chester, and King of Prussia.
Key Highlights
- Mixed‑use property at the corner of Burmont Rd. & Ferne Blvd: 3‑story 3,700 SF residential plus attached 1,700 SF professional office addition
- Over 10 offices for the office space, with reception area, conference room, break room, 2.5 bathrooms, and parking for 10+ cars
- Residential highlights include renovated eat‑in kitchen, covered front entry, center hall foyer, formal dining room, and enclosed side porch
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
$54,133
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
6.19%
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%
$1,082,660
$1.1M
Cap Rate 7%
$773,329
$773.3K
Cap Rate 9%
$601,478
$601.5K
Market Conditions
NOI Build-Up for 5,400 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
$114.0K $21.12/SF
− Vacancy
−$15.6K −$2.89/SF
EGI
$98.4K $18.23/SF
− OpEx
−$44.3K −$8.20/SF
NOI
$54.1K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /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%
$1,082,660
Cap Rate 7%
$773,329
Cap Rate 9%
$601,478
Alternative Uses
Best Use
Office B
$1.26M
$1.11M – $1.48M
NOI $88,530 @ 7.0% cap · market cap 10.12%
Second Best
Apartment 5plus
$773.3K
$676.7K – $902.2K
NOI $54,133 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,606 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
673
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story residence with an attached office addition, totaling finished space and including 10 offices and parking for 10+ cars.
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: Mixed‑use property at the corner of Burmont Rd. & Ferne Blvd: 3‑story 3,700 SF residential plus attached 1,700 SF professional office addition; Over 10 offices for the office space, with reception area, conference room, break room, 2.5 bathrooms, and parking for 10+ cars; Residential highlights include renovated eat‑in kitchen, covered front entry, center hall foyer, formal dining room, and enclosed side porch
