Mixed-Use Corner
New
For Sale
$880,000
7601 OGONTZ AVENUE, Philadelphia, PA 19150
Two ground-floor commercial units and four apartments provide a combination of retail space and residential occupancy.
Property Size3,600 SF
Lot Size0.04 Acres
Price / SF$244.44
Days on Market2
Property Features for 7601 OGONTZ AVENUE
General Information
Standard status
Active
Size
3,600 SF
Lot size
0.04 Acres
Property subtype
Commercial
Zoning
CMX-2
Site & Location
Neighborhood
Northwest Philadelphia
Corner Location
Yes
Road Access
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1950
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Realty Mark Cityscape
(215) 583-7777
Listed By:
Sandra E Butler · License #RS300796
(215) 552-0156
Source:
Cummingsrealtors
Added: Oct 24
Last Checked: Oct 24 at 1:53PM
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 Realty Mark Cityscape
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Investment Insights
Based on property information with market context.
This three-story mixed-use property contains approximately 3,600 square feet, with two commercial units at street level and four one-bedroom, one-bath apartments above. Both commercial spaces and one apartment are vacant; the other three apartments are occupied under annual leases. Apartment residents pay their own utilities except for water. A full basement contains the building’s mechanical systems, and a fire escape serves the rear of the property.
Positioned at the corner of Ogontz Avenue in Philadelphia’s West Oak Lane area, the building has CMX-2 zoning and rear-alley service access. It was built in 1950, and the lot measures 20 by 90 feet.
Positioned at the corner of Ogontz Avenue in Philadelphia’s West Oak Lane area, the building has CMX-2 zoning and rear-alley service access. It was built in 1950, and the lot measures 20 by 90 feet.
Key Highlights
- Three‑story mixed‑use building with approximately 3,600 square feet
- CMX‑2 zoning
- Two first‑floor commercial spaces, both vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,626
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,520
$1.1M
Cap Rate 7%
$808,943
$808.9K
Cap Rate 9%
$629,178
$629.2K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$109.3K $30.36/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$103.0K $28.60/SF
− OpEx
−$46.3K −$12.87/SF
NOI
$56.6K $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 Rate 5%
$1,132,520
Cap Rate 7%
$808,943
Cap Rate 9%
$629,178
Alternative Uses
Best Use
Apartment 5plus
$808.9K
$707.8K – $943.8K
NOI $56,626 @ 7.0% cap · market cap 6.43%
Second Best
Mixed Use
$611.0K
$534.6K – $712.8K
NOI $42,768 @ 7.0% cap · market cap 4.86%
Theoretical Best
Multifamily LT 5
$877.6K
$767.9K – $1.02M
NOI $61,434 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
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Business Placement
Demographics for 19150, PA
23,126
Population
10,868
Households
2.1
Avg Household Size
47
Median Age
28%
College-Educated
91%
High-School Grad
1.5 sq mi
ZIP Area
15,417
Density / Sq Mi
$61,257
Median Household Income
$43,002
Median Earnings
$1,282
Median Rent
$225,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two ground-floor commercial units and four apartments provide a combination of retail space and residential occupancy.
Where is this mixed-use property located?
The property is located at 7601 OGONTZ AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Three‑story mixed‑use building with approximately 3,600 square feet; CMX‑2 zoning; Two first‑floor commercial spaces, both vacant
