Mixed-Use Building with Art
1108 PINE Street Philadelphia, PA 19107
1108 PINE Street, Philadelphia, PA, 19107
$2,450,000
For Sale
Under Contract
$2,450,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size4,200 SF
Lot Size0.05 Acres
Price / SF$583.33
Days on Market798
Property Features for 1108 PINE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active Under Contract
- Size
- 4,200 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7872
Utilities
- Heating system
- Forced Air
- Cooling system
- Ductless, Central Air
Building Details
- Year built
- 1968
- Number of units
- 4
- Building materials
- Masonry
Listing agency
United Real Estate
(484) 367-7727
Listed by
Michael A. Kelczewski
(302) 383-1983
Added: May 17, 2024 Updated: Jul 13 at 10:36AM Checked: Jul 23 at 3:06AM
MLS# PAPH2356374
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.
An extensively renovated mixed-use property offering ground-level commercial space built out as an art gallery, with the ability to adapt to other commercial uses under CMX1 zoning. The building also includes four fully renovated one-bedroom, one-bathroom apartments, each separately metered. Recent improvements include newer HVAC systems installed in 2022, along with modern finishes and updated layouts. Additional building features include modern fire and security systems and interior finishes such as bamboo and tile flooring.
The property is located in the Washington Square West area of Philadelphia, described as directly overlooking Kahn Park. A rear parking space is included, with a stated opportunity for a patio conversion.
The commercial and residential components are both positioned for current operation, supported by the existing residential lease income and the turnkey nature of the recently updated interiors. The offering is also noted as having tax abatement approval in place.
The property is located in the Washington Square West area of Philadelphia, described as directly overlooking Kahn Park. A rear parking space is included, with a stated opportunity for a patio conversion.
The commercial and residential components are both positioned for current operation, supported by the existing residential lease income and the turnkey nature of the recently updated interiors. The offering is also noted as having tax abatement approval in place.
Key Highlights
- 4,200+ SF mixed‑use building built in 1968 with masonry construction and on‑street parking
- 2,500+ SF ground‑level commercial space currently built out as an art gallery
- Residential upstairs: four fully renovated 1‑bedroom/1‑bath apartments, separately metered
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.4k | $25.80 |
| − Vacancy | −$6.0k | −$1.42 |
| EGI | $102.4k | $24.38 |
| − OpEx | −$30.7k | −$7.31 |
| NOI | $71.7k | $17.06 |
4,200 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$895.9K – $1.19M
NOI $71,673 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$943.8K
$825.8K – $1.10M
NOI $66,064 @ 7.0% cap · market cap 2.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Pine Street Creative ...
Theater & Performing Art Venue
Kelly Wallace
Art Gallery
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Renovated mixed-use building with ground-floor art gallery space and four separately metered one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 1108 PINE Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 4,200+ SF mixed‑use building built in 1968 with masonry construction and on‑street parking; 2,500+ SF ground‑level commercial space currently built out as an art gallery; Residential upstairs: four fully renovated 1‑bedroom/1‑bath apartments, separately metered
