Former Clothing Store
For Sale
Contact for pricing
3142 Kensington Ave, Philadelphia, PA 19134
7,475 SF former clothing store available for sale.
Property Size7,475 SF
Price / SF$200.67
Days on Market719
Property Features for 3142 Kensington Ave
General Information
Standard status
Active
Size
7,475 SF
Property subtype
Retail
Listing Agency:
JC Bar Properties
Listed By:
Melissa Lippe · License #RS227988
(215) 264-6964
Source:
Crexi
Added: Sep 20, 2024
Changed: Sep 7
Last Checked: Sep 7 at 7:42AM
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 JC Bar Properties
Investment Insights
Based on property information with market context.
A 7,475 square foot former clothing store is available. The property is located at 3142 Kensington Ave, Philadelphia, PA 19134.
Key Highlights
- Large ±7,475 sq ft space suitable for various retail or commercial uses.
- Former clothing store, potentially offering existing infrastructure relevant to retail operations.
- Property is available, indicating immediate occupancy potential.
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
$84,484
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
5.63%
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%
$1,689,680
$1.7M
Cap Rate 7%
$1,206,914
$1.2M
Cap Rate 9%
$938,711
$938.7K
Market Conditions
NOI Build-Up for 7,475 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
$134.6K $18.00/SF
− Vacancy
−$13.9K −$1.85/SF
EGI
$120.7K $16.15/SF
− OpEx
−$36.2K −$4.84/SF
NOI
$84.5K $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%
$1,689,680
Cap Rate 7%
$1,206,914
Cap Rate 9%
$938,711
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,484 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.82M
$1.59M – $2.13M
NOI $127,560 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,685
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 3%
Electronics 2%
Sunoco
Shops & Services
9,282 visits/mo
0.4 miles
7-Eleven
Shops & Services
6,537 visits/mo
0.3 miles
Wells Fargo
Shops & Services
5,981 visits/mo
0.1 miles
Dollar Tree
Shops & Services
5,786 visits/mo
0.4 miles
Bank of America
Shops & Services
3,144 visits/mo
0.1 miles
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
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 - 7,475 SF former clothing store available for sale.
Where is this storefront property located?
The property is located at 3142 Kensington Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Large ±7,475 sq ft space suitable for various retail or commercial uses.; Former clothing store, potentially offering existing infrastructure relevant to retail operations.; Property is available, indicating immediate occupancy potential.
