Mixed-Use Property With
New
For Sale
$1,400,000
932 W LANCASTER AVENUE, Bryn Mawr, PA 19010
Fully occupied asset combines commercial space with multiple residential units.
Property Size5,813 SF
Price / SF$240.84
Days on Market6
Property Features for 932 W LANCASTER AVENUE
General Information
Standard status
Active
Size
5,813 SF
Property subtype
Commercial
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 1BR, 1 x studio, 1 x 2BR, 1 x 2BR/2.5BA
Multifamily Units
5
Amenities
security camera system
coin operated washer/dryer area
Building Details
Year Built
1920
Buildings
2
Listing Agency:
Charles J Falcone
(610) 842-3204
Listed By:
Charles P Falcone
(610) 842-3204
Source:
Cummingsrealtors
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 2:39PM
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 Charles J Falcone
Investment Insights
Based on property information with market context.
This 5,813-square-foot mixed-use property includes two buildings. The Lancaster Avenue building provides approximately 1,800 square feet of first-floor retail/office space, along with four apartments above: two one-bedroom units, one studio, and one two-bedroom unit. A separate two-story townhouse adds two bedrooms, two full bathrooms, one half bath, and dedicated off-street parking. The buildings were constructed in 1920 and are fully occupied.
Property improvements include retail-area gas-fired HVAC, security cameras, a coin-operated laundry area, window replacements, parking lot resurfacing, and tenant fit-out work. Individualized split HVAC units were added in 2025 for the second-floor apartments in Building 1. Building 2 received renovations in 2019 and 2025, including a second bedroom and bath, a relocated grade-level kitchen, separated electric service, a new gas-fired hot water boiler, and an electric domestic hot water heater.
The property is within walking distance of the Bryn Mawr regional rail and Amtrak stations, SEPTA bus stops, Villanova University, Haverford College, and Bryn Mawr College. The current owner has held the property for 21 years, with virtually no extended vacancy during that period.
Property improvements include retail-area gas-fired HVAC, security cameras, a coin-operated laundry area, window replacements, parking lot resurfacing, and tenant fit-out work. Individualized split HVAC units were added in 2025 for the second-floor apartments in Building 1. Building 2 received renovations in 2019 and 2025, including a second bedroom and bath, a relocated grade-level kitchen, separated electric service, a new gas-fired hot water boiler, and an electric domestic hot water heater.
The property is within walking distance of the Bryn Mawr regional rail and Amtrak stations, SEPTA bus stops, Villanova University, Haverford College, and Bryn Mawr College. The current owner has held the property for 21 years, with virtually no extended vacancy during that period.
Key Highlights
- 5,813 SF mixed‑use property with two buildings
- Approximately 1,800 SF of first‑floor retail/office space
- Residential mix includes four apartments and a 2‑bedroom townhouse
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
$95,301
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
6.81%
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%
$1,906,020
$1.9M
Cap Rate 7%
$1,361,443
$1.4M
Cap Rate 9%
$1,058,900
$1.1M
Market Conditions
NOI Build-Up for 5,813 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
$153.5K $26.40/SF
− Vacancy
−$26.4K −$4.54/SF
EGI
$127.1K $21.86/SF
− OpEx
−$31.8K −$5.46/SF
NOI
$95.3K $16.39/SF
Area
Delaware County, PA
Vacancy
17.20%
Lease Rate
$26.40 /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%
$1,906,020
Cap Rate 7%
$1,361,443
Cap Rate 9%
$1,058,900
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,301 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$832.5K
$728.4K – $971.2K
NOI $58,273 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,371 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,939
Businesses Nearby
Explore this area
Business Placement
Demographics for 19010, PA
21,270
Population
8,520
Households
2.5
Avg Household Size
38
Median Age
77%
College-Educated
98%
High-School Grad
8.5 sq mi
ZIP Area
2,502
Density / Sq Mi
$143,986
Median Household Income
$61,732
Median Earnings
$1,890
Median Rent
$788,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied asset combines commercial space with multiple residential units.
Where is this mixed-use property located?
The property is located at 932 W LANCASTER AVENUE Bryn Mawr, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 5,813 SF mixed‑use property with two buildings; Approximately 1,800 SF of first‑floor retail/office space; Residential mix includes four apartments and a 2‑bedroom townhouse
