Mixed-Use Property with Roof
For Sale
$1,075,000
1120 SOUTH Street, Philadelphia, PA 19147
Multi-Family, PHILADELPHIA, PA
Property Size2,800 SF
Lot Size0.02 Acres
Price / SF$384.62
Days on Market127
Property Features for 1120 SOUTH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
HAWTHORNE
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,795 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
8591
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
roof decks
conference room
kitchenette
Building Details
Year built
1920
Number of units
4
Building materials
Masonry
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(215) 923-7600
Listed By:
Julie A Russell · License #RS307896
(484) 319-1993
Added: May 1
Changed: Aug 19
Last Checked: Sep 4 at 4:06AM
MLS# PAPH2615790
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.
This masonry mixed-use property combines office and residential space across a highly efficient layout. The basement, first floor, and second floor are arranged as office areas with a lobby, 15+ private and semi-private offices, a conference room, kitchenette, large storage room, three half bathrooms, and separate outdoor egress. The third floor contains a studio apartment with natural light, exposed spiral ductwork, laundry, stainless steel appliances, gas cooking, and access to two fiberglass roof decks. Building systems include central heating and central air, spray foam insulation, a three-zone HVAC system, separate meters, a sprinkler system, tankless water heaters, and security cameras.
Located at 1120 South Street in Philadelphia, the property has a 97/100 walk score and a 100/100 transit score. SEPTA access is nearby, with convenient connections to I-95 and I-676. The building is also near Philadelphia's Magic Gardens, the Italian Market, Whole Foods, and a range of boutiques, eateries, coffee shops, gyms, and dog parks. CMX2 zoning and a layout designed for four separate tenants support a flexible office and residential configuration.
Located at 1120 South Street in Philadelphia, the property has a 97/100 walk score and a 100/100 transit score. SEPTA access is nearby, with convenient connections to I-95 and I-676. The building is also near Philadelphia's Magic Gardens, the Italian Market, Whole Foods, and a range of boutiques, eateries, coffee shops, gyms, and dog parks. CMX2 zoning and a layout designed for four separate tenants support a flexible office and residential configuration.
Key Highlights
- CMX2‑zoned mixed‑use property at 1120 South Street, Philadelphia, PA 19147
- 0.0213‑acre lot with a 16x60 footprint
- Configured to accommodate 4 separate tenants
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
$36,781
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
3.42%
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%
$735,620
$735.6K
Cap Rate 7%
$525,443
$525.4K
Cap Rate 9%
$408,678
$408.7K
Market Conditions
NOI Build-Up for 2,795 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
$61.4K $21.96/SF
− Vacancy
−$12.3K −$4.41/SF
EGI
$49.0K $17.55/SF
− OpEx
−$12.3K −$4.39/SF
NOI
$36.8K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /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%
$735,620
Cap Rate 7%
$525,443
Cap Rate 9%
$408,678
Alternative Uses
Best Use
Office B
$525.4K
$459.8K – $613.0K
NOI $36,781 @ 7.0% cap · market cap 3.42%
Second Best
Mixed Use
$474.4K
$415.1K – $553.4K
NOI $33,205 @ 7.0% cap · market cap 3.09%
Theoretical Best
Multifamily LT 5
$681.4K
$596.2K – $794.9K
NOI $47,696 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
19,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines office areas with a studio apartment and is configured for four separate tenants.
Where is this mixed-use property located?
The property is located at 1120 SOUTH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: CMX2‑zoned mixed‑use property at 1120 South Street, Philadelphia, PA 19147; 0.0213‑acre lot with a 16x60 footprint; Configured to accommodate 4 separate tenants
