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    231 N 12TH Street unit 2Nd Floor Philadelphia, PA 19107

    View on Map
    For Lease
    $4,000 /Mo

    CommercialLease - PHILADELPHIA, PA

    Type:Retail
    Lot size:
    0.04 Acres
    Added:
    Aug 14, 2025
    Days on Market:
    233
    Last Refresh:
    Apr 3 at 11:06 pm

    Property Features for 231 N 12TH Street unit 2Nd Floor

    General Information

    Property type
    Other
    Property subtype
    Retail
    Parking features
    On Street
    Standard status
    Active
    Lot size
    0.04 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    2005
    Number of units
    2
    Building materials
    Masonry

    We can help!

    Listing Contact
    Alex Wong

    Listing agent Alex Wong License #RS285296

    Listing office Realty Mark Associates 2250 Terwood Drive, Southampton, PA

    Listing date Aug 14, 2025

    MLS# PAPH2527860

    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.

    Overview

    Prime Chinatown Commercial Space Available

    Located in the heart of Philadelphia's Chinatown, this commercial property at 231 N 12th Street offers a prime location with high visibility. Situated blocks from City Hall and the Center City District, the property benefits from its proximity to the bustling Chinatown restaurant district and sits directly across from two large commercial parking lots. The two-story building offers over 3,300 square feet per floor, available for lease separately or combined. The space features wide, open layouts suitable for a range of general commercial uses. Previously a dance and yoga studio, the second floor space includes expansive windows, large mirrors, a mix of hardwood and tile flooring, bathroom and shower facilities, and HVAC. The main studio space measures 61'4" x 35', while a private studio space is 30'1" x 19'2". Additional features include a closet (7'3" x 7'11") and two bathrooms (7'3" x 7'4" and 8'1" x 11'4" with shower). Optional basement space is available for storage or expansion. Immediate occupancy is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    M. Cramer & Associates, ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Kitchen & Bath Showroom Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.158622
    Latitude
    39.956588

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    FAQs

    What type of property is this?
    Retail space - Two-story commercial property in Philadelphia's Chinatown with versatile space.
    Where is this retail space located?
    The property is located at 231 N 12TH Street unit 2Nd Floor Philadelphia, PA.
    What is the lease rate?
    The lease rate is $4,000 /Mo.
    What are key features of this property?
    This property features: Prime location in the heart of Philadelphia's Chinatown, offering high visibility and foot traffic.; Versatile commercial space with over 3,300 square feet per floor, available for individual or combined lease.; Excellent accessibility with two large commercial parking lots directly across from the property.
    (610) 952-0848
    We can help!
    Listing Contact
    Alex Wong
    Real Estate License ID: RS285296
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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