Contemporary Mixed-Use
For Sale
$800,000
2123 DICKINSON Street, Philadelphia, PA 19146
Multi-Family, PHILADELPHIA, PA
Property Size3,009 SF
Lot Size0.03 Acres
Price / SF$265.87
Days on Market115
Property Features for 2123 DICKINSON Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
3,009 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1799
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
roof decks
in-unit washer/dryers
stainless steel appliances
multi-position adjustable blinds
combo deadbolt entry systems
abundant outlet placement
energy-efficient systems
Building Details
Year built
2021
Number of units
3
Building materials
Brick
Architectural style
Contemporary
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(215) 923-7600
Listed By:
Harkeet S Chadha · License #AB069009
(484) 554-9188
Added: May 12
Changed: Aug 19
Last Checked: Sep 3 at 1:06PM
MLS# PAPH2620526
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.
Built in 2021, this 3,009-square-foot contemporary brick property contains three bi-level units: two residential apartments and one commercial space. Each apartment offers 3 bedrooms, 2 full bathrooms, a roof deck, a full-size in-unit washer and dryer, and a kitchen with stainless steel appliances. The approximately 1,100-square-foot commercial unit includes a private restroom and one oversized private parking space. Separated utilities serve all three units, while forced-air heating and central air support the building’s systems.
The property is located at 2123 Dickinson Street in Philadelphia’s 19146 ZIP code, near Center City, restaurants, coffee shops, retail, and major transportation routes. The majority of the property’s tax abatement remains, and the units have consistently been occupied with leases frequently renewing from year to year.
The property is located at 2123 Dickinson Street in Philadelphia’s 19146 ZIP code, near Center City, restaurants, coffee shops, retail, and major transportation routes. The majority of the property’s tax abatement remains, and the units have consistently been occupied with leases frequently renewing from year to year.
Key Highlights
- 3,009 SF mixed‑use building completed in 2021
- Three bi‑level units: two residential apartments and one commercial space
- Two apartments each include 3 bedrooms, 2 full bathrooms, and a roof deck
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
$51,348
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
6.42%
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%
$1,026,960
$1.0M
Cap Rate 7%
$733,543
$733.5K
Cap Rate 9%
$570,533
$570.5K
Market Conditions
NOI Build-Up for 3,009 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
$77.6K $25.80/SF
− Vacancy
−$4.3K −$1.42/SF
EGI
$73.4K $24.38/SF
− OpEx
−$22.0K −$7.31/SF
NOI
$51.3K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$1,026,960
Cap Rate 7%
$733,543
Cap Rate 9%
$570,533
Alternative Uses
Best Use
Multifamily LT 5
$733.5K
$641.9K – $855.8K
NOI $51,348 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$676.1K
$591.6K – $788.8K
NOI $47,330 @ 7.0% cap · market cap 5.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three bi-level units combine residential living with dedicated commercial space and separated utilities.
Where is this mixed-use property located?
The property is located at 2123 DICKINSON Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 3,009 SF mixed‑use building completed in 2021; Three bi‑level units: two residential apartments and one commercial space; Two apartments each include 3 bedrooms, 2 full bathrooms, and a roof deck
