Mixed-Use Building with 13
For Sale
$1,975,000
7013 W Girard Avenue, Philadelphia, PA 19123
Corner mixed-use property with 13 residential units and commercial space, currently 85% complete, zoned CMX2.
Property Size8,600 SF
Price / SF$229.65
Days on Market301
Property Features for 7013 W Girard Avenue
General Information
Standard status
Active
Size
8,600 SF
Property subtype
Multi-family
Zoning
CMX2
Lease Term
[]
Additional Details
Multifamily Units
13
Building Details
Year Built
1915
Listing Agency:
KW Empower
Listed By:
Richard K Cassell · License #RS330536
(215) 607-6007
Source:
Deepcreeklake
Added: Nov 12, 2025
Changed: Sep 8
Last Checked: Sep 8 at 6:29AM
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
Investment Insights
Based on property information with market context.
This corner, double-wide mixed-use property includes 13 total units—an apartment building component plus one townhouse—and features a unit mix ranging from studios through 3-bedroom layouts. The project is currently listed as approximately 85% complete and also includes commercial space along Girard Avenue.
The property is located at 7013 W Girard Avenue in Philadelphia, PA 19123. Public remarks indicate the projected revenue is based on the Section 8 rent schedule, and the site is designated with a CMX2 zoning designation. The offering materials also reference surrounding new development.
The property is located at 7013 W Girard Avenue in Philadelphia, PA 19123. Public remarks indicate the projected revenue is based on the Section 8 rent schedule, and the site is designated with a CMX2 zoning designation. The offering materials also reference surrounding new development.
Key Highlights
- Corner 13‑unit mixed‑use building (double‑wide) with commercial space on Girard Ave and residential units totaling studios to 3 bedrooms
- Currently 85% complete value‑add construction
- Income potential tied to the Section 8 rent schedule, with rents targeted to achieve Group 4 rates
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
$135,274
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
6.85%
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%
$2,705,480
$2.7M
Cap Rate 7%
$1,932,486
$1.9M
Cap Rate 9%
$1,503,044
$1.5M
Market Conditions
NOI Build-Up for 8,600 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
$261.1K $30.36/SF
− Vacancy
−$15.1K −$1.76/SF
EGI
$246.0K $28.60/SF
− OpEx
−$110.7K −$12.87/SF
NOI
$135.3K $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%
$2,705,480
Cap Rate 7%
$1,932,486
Cap Rate 9%
$1,503,044
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $135,274 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.10M
$1.83M – $2.45M
NOI $146,758 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
796
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Corner mixed-use property with 13 residential units and commercial space, currently 85% complete, zoned CMX2.
Where is this apartment building located?
The property is located at 7013 W Girard Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Corner 13‑unit mixed‑use building (double‑wide) with commercial space on Girard Ave and residential units totaling studios to 3 bedrooms; Currently 85% complete value‑add construction; Income potential tied to the Section 8 rent schedule, with rents targeted to achieve Group 4 rates
