Renovated Manayunk Building For
For Sale
Contact for pricing
4230 Main St, Philadelphia, PA 19127
Renovated building with 15,604 SF and excellent transportation access.
Property Size15,604 SF
Price / SF$206.93
Days on Market806
Property Features for 4230 Main St
General Information
Standard status
Active
Size
15,604 SF
Property subtype
Retail
Zoning
CMX-2.5
Investment Type
Owner/User
Building Details
Year Built
1900
Buildings
1
Stories
2
Units
1
Listing Agency:
MPN Realty, Inc.
Listed By:
Veronica Blum · License #PA
(215) 413-4900
Source:
Crexi
Added: Jun 21, 2024
Changed: Aug 22
Last Checked: Sep 3 at 9:33AM
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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
This fully renovated building, located along Manayunk’s commercial corridor, offers a total of 15,604 +/- SF of space. The property features 56’ of frontage on Main Street and a full-length glass ceiling that allows abundant natural light. The first floor provides 6,571 +/- SF, complemented by a 7,143 +/- SF mezzanine and a 1,892 +/- SF lower level. The building includes an elevator that services the basement and mezzanine levels. It also offers convenient rear loading access from the rear street. The property has a ceiling height of 20’. Zoned CMX-2.5, the location provides excellent access to public transportation, with bus and SEPTA stops located a block away, as well as close proximity to major highways and Center City.
Key Highlights
- Fully renovated building with 56' frontage on Main Street in Manayunk's commercial corridor.
- Total of 15,604 +/- SF across three levels (1st Floor, Mezzanine, Lower Level).
- Full‑length glass ceiling providing abundant natural light.**
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
$176,360
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
5.46%
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%
$3,527,200
$3.5M
Cap Rate 7%
$2,519,429
$2.5M
Cap Rate 9%
$1,959,556
$2.0M
Market Conditions
NOI Build-Up for 15,604 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
$280.9K $18.00/SF
− Vacancy
−$28.9K −$1.85/SF
EGI
$251.9K $16.15/SF
− OpEx
−$75.6K −$4.84/SF
NOI
$176.4K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,527,200
Cap Rate 7%
$2,519,429
Cap Rate 9%
$1,959,556
Alternative Uses
Best Use
Retail
$2.52M
$2.20M – $2.94M
NOI $176,360 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.80M
$3.33M – $4.44M
NOI $266,281 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,607
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
7-Eleven
Shops & Services
8,360 visits/mo
0.5 miles
Sunoco
Shops & Services
4,903 visits/mo
0.5 miles
Insomnia Cookies
Dining
3,023 visits/mo
0.1 miles
Extra Space Storage
Shops & Services
1,795 visits/mo
0.5 miles
Bala Motorsports
Shops & Services
1,117 visits/mo
0.4 miles
Demographics for 19127, PA
6,929
Population
3,496
Households
2
Avg Household Size
29
Median Age
77%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
11,548
Density / Sq Mi
$99,792
Median Household Income
$73,061
Median Earnings
$1,765
Median Rent
$298,900
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Renovated building with 15,604 SF and excellent transportation access.
Where is this storefront property located?
The property is located at 4230 Main St Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,229,000.
What are key features of this property?
This property features: Fully renovated building with 56' frontage on Main Street in Manayunk's commercial corridor.; Total of 15,604 +/- SF across three levels (1st Floor, Mezzanine, Lower Level).; Full‑length glass ceiling providing abundant natural light.**
