13-Unit Mixed-Use
For Sale
$1,400,000
701-3 W GIRARD AVE, Philadelphia, PA 19123
Corner property combines residential units with commercial space and is 85% complete.
Property Size8,600 SF
Price / SF$162.79
Days on Market101
Property Features for 701-3 W GIRARD AVE
General Information
Standard status
Active
Size
8,600 SF
Property subtype
Multi-family
Zoning
CMX2
Additional Details
Corner Location
Yes
Multifamily Units
13
Building Details
Buildings
2
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Richard K Cassell · License #RS330536
(267) 813-2985
Source:
Sandrasellstheshore
Added: Jul 9
Changed: Oct 8
Last Checked: Oct 16 at 8:41AM
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 KW Empower
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8,600-square-foot mixed-use property includes one building and one townhouse with 13 residential units. The unit mix ranges from studios through three-bedroom layouts, complemented by commercial space along Girard Ave. The double-wide configuration adds scale to the existing improvements, which are approximately 85% complete.
The property occupies a corner position at 701-3 W Girard Ave in Philadelphia’s Northern Liberties, an area identified with ongoing new development. CMX2 zoning supports the property’s mixed-use classification. The combination of residential occupancy potential, commercial frontage, and partially completed improvements creates a clearly defined asset for continued completion and operation.
The property occupies a corner position at 701-3 W Girard Ave in Philadelphia’s Northern Liberties, an area identified with ongoing new development. CMX2 zoning supports the property’s mixed-use classification. The combination of residential occupancy potential, commercial frontage, and partially completed improvements creates a clearly defined asset for continued completion and operation.
Key Highlights
- 13‑unit mixed‑use property with studios through three‑bedroom layouts
- 8,600‑square‑foot double‑wide property
- One building plus one townhouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,168
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,043,360
$2.0M
Cap Rate 7%
$1,459,543
$1.5M
Cap Rate 9%
$1,135,200
$1.1M
Market Conditions
NOI Build-Up for 8,600 SF
Gross rent
$185.8K $21.60/SF
− Vacancy
−$22.3K −$2.59/SF
EGI
$163.5K $19.01/SF
− OpEx
−$61.3K −$7.13/SF
NOI
$102.2K $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,043,360
Cap Rate 7%
$1,459,543
Cap Rate 9%
$1,135,200
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $135,274 @ 7.0% cap · market cap 9.66%
Second Best
Mixed Use
$1.46M
$1.28M – $1.70M
NOI $102,168 @ 7.0% cap · market cap 7.30%
Theoretical Best
Multifamily LT 5
$2.10M
$1.83M – $2.45M
NOI $146,758 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combines residential units with commercial space and is 85% complete.
Where is this mixed-use property located?
The property is located at 701-3 W GIRARD AVE Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 13‑unit mixed‑use property with studios through three‑bedroom layouts; 8,600‑square‑foot double‑wide property; One building plus one townhouse
