Mixed-Use Building with Courtyard
For Sale
$1,074,999
2337 S 13TH Street, Philadelphia, PA 19148
Multi-Family, PHILADELPHIA, PA
Property Size4,896 SF
Lot Size0.10 Acres
Price / SF$219.57
Days on Market1460
Property Features for 2337 S 13TH 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
4,896 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
5291
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Amenities
open-air patio
courtyard
reception area
break room
storage
central air conditioning
Building Details
Year built
1940
Number of units
4
Building materials
Masonry
Listing Agency:
Mercury Real Estate Group
(215) 462-5100
Listed By:
Michael J Moss · License #RS286764
(215) 416-3980
Added: Sep 10, 2022
Changed: Aug 19
Last Checked: Sep 8 at 4:06AM
MLS# PAPH2158394
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.
Located at 2337 S 13TH Street in Philadelphia, this masonry mixed-use property contains 4,896 square feet on a 0.104-acre double-wide corner lot. The building includes multiple entrances, large open rooms, a reception area, break-room space, storage, three restrooms, and an open-air patio facing a courtyard. Central air conditioning and hot water heating serve the property, while the mechanical systems have been updated. On-street parking is available, and the building was constructed in 1940.
The property is commercially zoned for school use; a change of use would be required for a different operation. It is positioned across from Methodist hospital and medical offices, with nearby subway and bus connections. The prior occupant operated a dance studio, and the layout may support office, medical, or school use subject to applicable approvals.
The property is commercially zoned for school use; a change of use would be required for a different operation. It is positioned across from Methodist hospital and medical offices, with nearby subway and bus connections. The prior occupant operated a dance studio, and the layout may support office, medical, or school use subject to applicable approvals.
Key Highlights
- 4,896‑square‑foot masonry building on a 0.104‑acre double‑wide corner lot
- Commercially zoned for school use; different operations require a change of use
- Multiple entrances, large open rooms, reception area, storage, and break‑room space
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
$64,429
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
5.99%
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%
$1,288,580
$1.3M
Cap Rate 7%
$920,414
$920.4K
Cap Rate 9%
$715,878
$715.9K
Market Conditions
NOI Build-Up for 4,896 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
$107.5K $21.96/SF
− Vacancy
−$21.6K −$4.41/SF
EGI
$85.9K $17.55/SF
− OpEx
−$21.5K −$4.39/SF
NOI
$64.4K $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%
$1,288,580
Cap Rate 7%
$920,414
Cap Rate 9%
$715,878
Alternative Uses
Best Use
Office B
$920.4K
$805.4K – $1.07M
NOI $64,429 @ 7.0% cap · market cap 5.99%
Second Best
Mixed Use
$830.9K
$727.1K – $969.4K
NOI $58,164 @ 7.0% cap · market cap 5.41%
Theoretical Best
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,550 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,706
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
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 - Flexible commercial layout with multiple entrances, three restrooms, updated mechanical systems, and central air conditioning.
Where is this mixed-use property located?
The property is located at 2337 S 13TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,074,999.
What are key features of this property?
This property features: 4,896‑square‑foot masonry building on a 0.104‑acre double‑wide corner lot; Commercially zoned for school use; different operations require a change of use; Multiple entrances, large open rooms, reception area, storage, and break‑room space
