Multi-Tenant Shopping
For Sale
$2,800,000
7034-7048 CASTOR AVENUE, Philadelphia, PA 19149
Three established occupants include a supermarket, language school, and KTV, with additional second-floor office space available for leasing.
Property Size16,530 SF
Lot Size0.32 Acres
Price / SF$175
Days on Market267
Property Features for 7034-7048 CASTOR AVENUE
General Information
Standard status
Active
Size
16,530 SF
Net Rentable
16,000 SF
Lot size
0.32 Acres
Property subtype
MixedUse
Taxes and HOA fees
Annual Taxes
$32,305
Building Details
Building Size
16,530 SF
Year Built
1970
Tenancy
Multi
Listing Agency:
HomeSmart Realty Advisors
Listed By:
Jackie Zhang · License #RS366943
(215) 470-1168
Source:
Lizclarkrealestate
Added: Dec 10, 2025
Changed: Aug 31
Last Checked: Sep 2 at 9:08PM
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 HomeSmart Realty Advisors
Investment Insights
Based on property information with market context.
This shopping center spans a combined 0.32-acre parcel and offers approximately 16,000 square feet of leasable area. Three established occupants—a supermarket, language school, and KTV—are currently in place. The second floor includes additional office space that can be leased separately for professional services, education, or creative uses.
The property is located at 7034-7048 Castor Ave in Philadelphia, within minutes of Cottman Avenue. More than 300,000 residents are located within a 3-mile radius, and the Cottman & Bustleton Shopping Center is approximately 2,000 feet away. Its tenant mix and additional office area provide both existing occupancy and leasing capacity within a commercial corridor in Northeast Philadelphia.
The property is located at 7034-7048 Castor Ave in Philadelphia, within minutes of Cottman Avenue. More than 300,000 residents are located within a 3-mile radius, and the Cottman & Bustleton Shopping Center is approximately 2,000 feet away. Its tenant mix and additional office area provide both existing occupancy and leasing capacity within a commercial corridor in Northeast Philadelphia.
Key Highlights
- Combined 0.32‑acre parcel
- Approximately 16,000 square feet of leasable area
- Three established tenants: supermarket, language school, and KTV
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
$251,546
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
8.98%
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%
$5,030,920
$5.0M
Cap Rate 7%
$3,593,514
$3.6M
Cap Rate 9%
$2,794,956
$2.8M
Market Conditions
NOI Build-Up for 16,000 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
$416.6K $26.04/SF
− Vacancy
−$81.2K −$5.08/SF
EGI
$335.4K $20.96/SF
− OpEx
−$83.8K −$5.24/SF
NOI
$251.5K $15.72/SF
Area
ZIP 19149
Vacancy
19.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$5,030,920
Cap Rate 7%
$3,593,514
Cap Rate 9%
$2,794,956
Alternative Uses
Best Use
Office B
$3.59M
$3.14M – $4.19M
NOI $251,546 @ 7.0% cap · market cap 8.98%
Second Best
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,840 @ 7.0% cap · market cap 8.28%
Theoretical Best
Apartment 5plus
$30.63M
$26.81M – $35.74M
NOI $2,144,419 @ 7.0% cap · market cap 76.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,648
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Three established occupants include a supermarket, language school, and KTV, with additional second-floor office space available for leasing.
Where is this shopping center located?
The property is located at 7034-7048 CASTOR AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Combined 0.32‑acre parcel; Approximately 16,000 square feet of leasable area; Three established tenants: supermarket, language school, and KTV
