Mixed-Use Property with Roof
For Sale
$1,075,000
1120 SOUTH STREET, Philadelphia, PA 19147
CMX2-zoned property combines office space, a studio apartment, separate meters, and flexible multi-tenant configuration.
Property Size2,795 SF
Lot Size0.02 Acres
Price / SF$383.93
Days on Market13
Property Features for 1120 SOUTH STREET
General Information
Standard status
Active
Size
2,795 SF
Lot size
0.02 Acres
Property subtype
Mixed Use
Zoning
CMX2
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$8,591
Amenities
roof decks
conference room
kitchenette
lobby
Building Details
Building Size
2,795 SF
Year Built
1920
Buildings
1
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Coldwell Banker Realty
(484) 319-1993
Listed By:
Julie A Russell · License #RS307896
(484) 319-1993
Source:
Patmckennarealtors
Added: Aug 1
Changed: Aug 11
Last Checked: Aug 12 at 2:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use property contains 2,800 square feet of finished interior space plus 525 square feet of exterior space on an extra-wide 16x60 lot. The basement through second floor are configured as office space, with a lobby facing South St, 15+ private and semi-private offices, a large conference room, kitchenette, storage, three half bathrooms including one ADA-compliant restroom, and multiple outdoor egress points. Separate meters, three-zone HVAC, spray foam insulation, security cameras, roll-down security doors, and a sprinkler system are among the building improvements.
The third floor is a studio apartment with natural light, high ceilings, laundry, closet space, gas cooking, stainless appliances, and access to two fiberglass roof decks with skyline views. The property is located at 1120 South Street in Philadelphia, near Philadelphia's Magic Gardens, the Italian Market, Whole Foods, and SEPTA transportation. I-95 and I-676 provide regional access, while the building's South Street frontage places it among boutiques, eateries, coffee shops, gyms, and dog parks.
The third floor is a studio apartment with natural light, high ceilings, laundry, closet space, gas cooking, stainless appliances, and access to two fiberglass roof decks with skyline views. The property is located at 1120 South Street in Philadelphia, near Philadelphia's Magic Gardens, the Italian Market, Whole Foods, and SEPTA transportation. I-95 and I-676 provide regional access, while the building's South Street frontage places it among boutiques, eateries, coffee shops, gyms, and dog parks.
Key Highlights
- 2,800 SF of finished interior space plus 525 SF of exterior space
- Extra‑wide 16x60 lot at 1120 South Street, Philadelphia, PA 19147
- CMX2 zoning with office and residential components
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
$44,043
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
4.10%
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%
$880,860
$880.9K
Cap Rate 7%
$629,186
$629.2K
Cap Rate 9%
$489,367
$489.4K
Market Conditions
NOI Build-Up for 2,800 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
$85.0K $30.36/SF
− Vacancy
−$4.9K −$1.76/SF
EGI
$80.1K $28.60/SF
− OpEx
−$36.0K −$12.87/SF
NOI
$44.0K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$880,860
Cap Rate 7%
$629,186
Cap Rate 9%
$489,367
Alternative Uses
Best Use
Apartment 5plus
$629.2K
$550.5K – $734.1K
NOI $44,043 @ 7.0% cap · market cap 4.10%
Second Best
Office B
$526.4K
$460.6K – $614.1K
NOI $36,847 @ 7.0% cap · market cap 3.43%
Theoretical Best
Multifamily LT 5
$682.6K
$597.3K – $796.4K
NOI $47,782 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
19,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - CMX2-zoned property combines office space, a studio apartment, separate meters, and flexible multi-tenant configuration.
Where is this mixed-use property located?
The property is located at 1120 SOUTH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 2,800 SF of finished interior space plus 525 SF of exterior space; Extra‑wide 16x60 lot at 1120 South Street, Philadelphia, PA 19147; CMX2 zoning with office and residential components
