$2,950,000
( $172.72Per Sq Foot )
 $15,836 est/mo Sourced by Back At You

5734-38 Old Second St,PHILADELPHIA, PA 19120

PHILADELPHIA, PA 19120

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Description

This shopping center boasts five laundromat and restaurant tenants with high visibility along Old 2nd Street and W Grange Ave. The total building area is 18,000 sqft with 5 units and parking lot for 120 cars. Strip center : Unit 1: restaurant , 6000 sf. Unit 2: ,2500 sf, Central air & heat . Unit 3: It was a pizza restaurant. Unit 4: meat business , 3800 sf Unit 5 : Coin Laundromat , 4500 Sf , 92 machines , lottery, 2 year old heating & cooling system, lots of potential, opened 2019. Financial summary: Gross Rental Income: $199,800. Tenant 1 $55,800; Tenant 2 $36,000; Tenant 3 $48,000; Tenant 4 $60,000. Vacant restaurant - Potential rent $96,000. Total Operating Expenses: $72,575. Expenses Breakdown: Real estate taxes $33,575. Common Area/Sanitation $3,000. Common Electricity $3,500. Water/Sewer $10,000. Snow Removal + Landscaping $3,500. Insurance $13,500. Repairs/maintenance $5,500. Net Operating Income (NOI): $127,225 Asking Price: $2,950,000. Current Cap Rate:4.31%. Pro Forma Cap Rate: 7.57%. In 2019, significant upgrades were made to the property, including all wall renovated ($60,000), the sidewalk fixed and replaced ($50,000.00), 5 poles($40,000.00) installed, other renovation on 2019($15,000) , a new roof( $55,000.00) , 2 meters in the property , 1 for at restaurant , another one for laundromat .

Details

MLS #PAPH2674248
Listing TypeFor Sale
Sub-TypeResale
StatusActive-bright
Year1940
Days On Site52
Listing Provided ByLonglong Zhan Real Estate Investment | Wei Lin

Features

Units5
ZoningCA1
Acreage1.02

Interior

CoolingCentral A/C
Heating Yes / NoYes
HeatingCentral

Exterior

Construction MaterialsStucco, Brick

Parking

Garage Yes / NoNo

Utilities

UtilitiesElectric Available, Natural Gas Available

Taxes

Tax Annual Amount33269

Area Information

StatePA
CountyPHILADELPHIA PA
CityPHILADELPHIA
Zip Code19120
Area19120 (19120)
School DistrictTHE SCHOOL DISTRICT OF PHILADELP
Listing VS Median (in 19120)
Price:
$2,950,000
low | high
Med:
$210,000
100% of Average
On site:
52
low | high
Med:
130
40% of Average
Sourced by Back At You

Market Activity 19120

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Additional Information

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Contact

Learn More About This Property

Carrie Lager

Carrie Lager

Class Harlan Real Estate

RS336541SRES (215) 480-5728carrie@classharlan.com
StatePA
CountyPHILADELPHIA PA
CityPHILADELPHIA
Zip Code19120
Area19120 (19120)
School DistrictTHE SCHOOL DISTRICT OF PHILADELP
Listing VS Median (in 19120)
Price:
$2,950,000
low | high
Med:
$210,000
100% of Average
On site:
52
low | high
Med:
130
40% of Average
Sourced by Back At You
Listing Updated: November 3, 2026 at 4:08:20 AM PST