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    615 56Th St Philadelphia, PA 19143

    For Sale
    $399,900

    High-yield multi-unit property with garage.

    Property size:
    2,208 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional mixed-use property located at 615 S 56th Street in Philadelphia, Pennsylvania presents a compelling investment opportunity. The building boasts a total of 2,208 square feet situated on a 0.03-acre lot. The ground floor currently houses a grocery store, generating a stable monthly rental income of $1200. Above the commercial space, the property features three residential units: two studio apartments and a two-bedroom apartment on the second floor. The property also includes a detached, single-car garage, adding further value and utility. This corner lot location offers excellent visibility and accessibility, enhancing the property's appeal to both tenants and customers. The strong rental income from the existing tenants, combined with the potential to increase rental rates or further develop the property, makes this a highly attractive investment for those seeking a solid return. The property's multi-unit configuration and diverse income streams provide a degree of resilience against market fluctuations. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable Philadelphia neighborhood. The combination of commercial and residential space offers significant flexibility and potential for future growth. Serious inquiries are encouraged.

    Property Features for 615 56Th St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    2,208 SF
    Lot Size
    1,307 SF

    Building Details

    Year Built
    1925
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pemberton Grocery Grocery Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.23471
    Latitude
    39.95095

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    FAQs

    What type of property is this?
    Mixed-use property - High-yield multi-unit property with garage.
    Where is this mixed-use property located?
    The property is located at 615 56Th St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $399,900.
    (215) 732-5355
    Request Owner's contact information
    615 56Th St Philadelphia, PA 19143
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    Philadelphia, PA 19143
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    Realmo Value Estimation

    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.

    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.

    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
    615 56Th St Philadelphia, PA 19143
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