Four-Story Mixed-Use
For Sale
Under Contract
$995,000
238 S 11TH Street, Philadelphia, PA 19107
Multi-Family, PHILADELPHIA, PA
Property Size3,616 SF
Lot Size0.03 Acres
Price / SF$275.17
Days on Market148
Property Features for 238 S 11TH Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
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 Under Contract
Size
3,616 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
12500
Utilities
Heating system
Forced Air, Central, Other (Heating)
Cooling system
Central Air
Amenities
private entrance
large unfinished basement
rear private outdoor space
private deck
newer HVAC systems
newer windows
Building Details
Year built
1900
Number of units
3
Building materials
Brick, Masonry
Architectural style
Other
Listing Agency:
A La Carte Realty LLC
(610) 664-2400
Listed By:
Jill Fratto · License #RB068060
(215) 834-7337
Added: Apr 10
Changed: Sep 3
Last Checked: Sep 4 at 4:06PM
MLS# PAPH2606208
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 1900, this 3,616-square-foot brick and masonry property contains three units across four stories. The ground-level commercial space is configured with a private entrance, high ceilings, natural light, and an unfinished basement with rear access to private outdoor space. The residential component includes a one-bedroom apartment on the second floor and a bi-level three-bedroom, two-bath apartment spanning the third and fourth floors. Hardwood flooring, a private deck, newer HVAC systems, and newer windows are included among the building features.
The property is located in Philadelphia’s Washington Square West area within Center City and is zoned CMX-1. All three units are leased on a month-to-month basis. Central air, forced-air heating, and on-street parking are also provided.
The property is located in Philadelphia’s Washington Square West area within Center City and is zoned CMX-1. All three units are leased on a month-to-month basis. Central air, forced-air heating, and on-street parking are also provided.
Key Highlights
- 3,616‑square‑foot, four‑story mixed‑use building with three units
- CMX‑1 zoning with one commercial unit and two residential apartments
- Ground‑floor commercial space includes a private entrance and high ceilings
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
$61,707
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
6.20%
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%
$1,234,140
$1.2M
Cap Rate 7%
$881,529
$881.5K
Cap Rate 9%
$685,633
$685.6K
Market Conditions
NOI Build-Up for 3,616 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
$93.3K $25.80/SF
− Vacancy
−$5.1K −$1.42/SF
EGI
$88.2K $24.38/SF
− OpEx
−$26.4K −$7.31/SF
NOI
$61.7K $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%
$1,234,140
Cap Rate 7%
$881,529
Cap Rate 9%
$685,633
Alternative Uses
Best Use
Multifamily LT 5
$881.5K
$771.3K – $1.03M
NOI $61,707 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$812.5K
$711.0K – $948.0K
NOI $56,878 @ 7.0% cap · market cap 5.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
25,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a street-level commercial suite with two residential apartments.
Where is this mixed-use property located?
The property is located at 238 S 11TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,616‑square‑foot, four‑story mixed‑use building with three units; CMX‑1 zoning with one commercial unit and two residential apartments; Ground‑floor commercial space includes a private entrance and high ceilings
