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5604 N 5th St 5,520 SF 100% Leased Retail Building Philadelphia, PA 19120 $1,350,000 ($244.57/SF) 11.25% Cap Rate
Executive Summary
* 5,520 SF former bank building in the heart of Olney on a high-traffic commercial corridor
* Three-story CMX-2 zoned asset supporting retail, office, medical, educational, and mixed-use redevelopment
* Strong adaptive reuse opportunity with existing 22-room configuration and 6 full bathrooms (including showers)
* Iconic original bank structure featuring preserved vault with lockboxes—ideal architectural focal point for repositioning
* Flexible layout suitable for multi-tenant office, medical clinic, charter school, or boutique commercial redevelopment
* Recent capital improvements include updated central HVAC system and water heater
* Existing security infrastructure: coded entry system, surveillance cameras, and operational security gates
* Former storefront entry allows conversion to modern lobby/reception area
* On-site parking enhances usability for institutional or high-traffic users
* Vacant and fully available for immediate repositioning or lease-up strategy
* Surrounded by strong neighborhood retail mix including pharmacies, restaurants, and daily-use services
* Three-story CMX-2 zoned asset supporting retail, office, medical, educational, and mixed-use redevelopment
* Strong adaptive reuse opportunity with existing 22-room configuration and 6 full bathrooms (including showers)
* Iconic original bank structure featuring preserved vault with lockboxes—ideal architectural focal point for repositioning
* Flexible layout suitable for multi-tenant office, medical clinic, charter school, or boutique commercial redevelopment
* Recent capital improvements include updated central HVAC system and water heater
* Existing security infrastructure: coded entry system, surveillance cameras, and operational security gates
* Former storefront entry allows conversion to modern lobby/reception area
* On-site parking enhances usability for institutional or high-traffic users
* Vacant and fully available for immediate repositioning or lease-up strategy
* Surrounded by strong neighborhood retail mix including pharmacies, restaurants, and daily-use services
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront
Building Size
5,520 SF
Building Class
C
Year Built
1930
Price
$1,350,000
Price Per SF
$244.57
Cap Rate
11.25%
NOI
$151,875
Percent Leased
100%
Building Height
2 Stories
Building FAR
1.41
Lot Size
0.09 AC
Zoning
CMX2.5
Frontage
Exceptionally walkable
100/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 882928245 | Improvements Assessment | $279,440 |
| Land Assessment | $69,860 | Total Assessment | $349,300 |
Property Taxes
Parcel Number
882928245
Land Assessment
$69,860
Improvements Assessment
$279,440
Total Assessment
$349,300
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5604 N 5th St