Three-Building Office
For Sale
$1,200,000
9237 FRANKFORD Avenue, Philadelphia, PA 19114
Commercial Sale, PHILADELPHIA, PA
Property Size5,100 SF
Lot Size0.05 Acres
Price / SF$235.29
Days on Market27
Property Features for 9237 FRANKFORD Avenue
General Information
Property type
Other
Property subtype
Office
Parking features
On Street
Subdivision
TORRESDALE
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
2325
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1935
Building materials
Masonry
Listing Agency:
RE/MAX Select Group · RE/MAX International
(215) 335-6900
Listed By:
Joseph McCabe · License #RM424069
(215) 868-6379
Added: Aug 11
Changed: Aug 19
Last Checked: Sep 6 at 8:06AM
MLS# PAPH2658510
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office portfolio combines 9237, 9239, and 9241 Frankford Avenue into one offering. The three consecutive CMX-2 commercial buildings provide approximately 5100 square feet, along with basements and rear yards. Masonry construction dates to 1935, with forced-air heating, central air, and on-street parking.
The properties are occupied by a real estate office that has operated at this location since 1980. The occupancy is structured under a triple-net lease renewing 9/2028, with the tenant responsible for property taxes, property insurance, trash fees, and maintenance expenses. The buildings are positioned in an established Northeast Philadelphia business district near retail, restaurants, banks, professional offices, schools, and other listed destinations, with access to I-95, Route 1, Center City Philadelphia, and the Betsy Ross Bridge.
The properties are occupied by a real estate office that has operated at this location since 1980. The occupancy is structured under a triple-net lease renewing 9/2028, with the tenant responsible for property taxes, property insurance, trash fees, and maintenance expenses. The buildings are positioned in an established Northeast Philadelphia business district near retail, restaurants, banks, professional offices, schools, and other listed destinations, with access to I-95, Route 1, Center City Philadelphia, and the Betsy Ross Bridge.
Key Highlights
- Three consecutive CMX‑2 commercial buildings sold together at 9237, 9239, and 9241 Frankford Avenue
- Approximately 5100 square feet plus basements and rear yards
- Occupied real estate office has operated at the location since 1980
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
$67,114
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
5.59%
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%
$1,342,280
$1.3M
Cap Rate 7%
$958,771
$958.8K
Cap Rate 9%
$745,711
$745.7K
Market Conditions
NOI Build-Up for 5,100 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
$112.0K $21.96/SF
− Vacancy
−$22.5K −$4.41/SF
EGI
$89.5K $17.55/SF
− OpEx
−$22.4K −$4.39/SF
NOI
$67.1K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /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%
$1,342,280
Cap Rate 7%
$958,771
Cap Rate 9%
$745,711
Alternative Uses
Best Use
Office B
$958.8K
$838.9K – $1.12M
NOI $67,114 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $87,031 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
Demographics for 19114, PA
32,645
Population
14,703
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
5.6 sq mi
ZIP Area
5,829
Density / Sq Mi
$76,076
Median Household Income
$48,257
Median Earnings
$1,369
Median Rent
$276,400
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?
Office building - Three connected masonry commercial buildings offer office occupancy, basements, rear yards, and on-street parking.
Where is this office building located?
The property is located at 9237 FRANKFORD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three consecutive CMX‑2 commercial buildings sold together at 9237, 9239, and 9241 Frankford Avenue; Approximately 5100 square feet plus basements and rear yards; Occupied real estate office has operated at the location since 1980
