Mixed-Use Building with
New
For Sale
$2,300,000
1122 Walnut St, Philadelphia, PA 19107
The property combines a leased market space with two renovated apartments.
Property Size5,823 SF
Days on Market2
Property Features for 1122 Walnut St
General Information
Standard status
Active
Size
5,823 SF
Property subtype
Mixed-Use
Units
Unit Mix
1 x 4BR/4BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Building Size
5,823 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Mallin Panchelli Nadel Realty Inc
Listed By:
Kenneth Mallin · License #RM424929
(267) 238-1711
Source:
Mpnrealty
Added: Oct 19
Last Checked: Oct 19 at 2:36PM
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 Mallin Panchelli Nadel Realty Inc
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Investment Insights
Based on property information with market context.
At 1122 Walnut Street in Philadelphia, this mixed-use property contains one commercial space and two apartments. The commercial tenant operates a market and deli, with its lease extending through November 2034; the tenant completed a renovation of that space in 2024. The building dates to 1900.
The apartments include a four-bedroom, four-bath unit and a bi-level four-bedroom, two-bath unit. Both have been updated with new building systems, kitchens, bathrooms, and flooring. The four-bedroom, four-bath apartment is master leased by an Airbnb company.
The apartments include a four-bedroom, four-bath unit and a bi-level four-bedroom, two-bath unit. Both have been updated with new building systems, kitchens, bathrooms, and flooring. The four-bedroom, four-bath apartment is master leased by an Airbnb company.
Key Highlights
- One commercial space and two apartments
- Market and deli tenant has a lease through November 2034
- Commercial space renovation completed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,593
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,831,860
$1.8M
Cap Rate 7%
$1,308,471
$1.3M
Cap Rate 9%
$1,017,700
$1.0M
Market Conditions
NOI Build-Up for 5,823 SF
Gross rent
$176.8K $30.36/SF
− Vacancy
−$10.3K −$1.76/SF
EGI
$166.5K $28.60/SF
− OpEx
−$74.9K −$12.87/SF
NOI
$91.6K $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 Rate 5%
$1,831,860
Cap Rate 7%
$1,308,471
Cap Rate 9%
$1,017,700
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,593 @ 7.0% cap · market cap 3.98%
Second Best
Mixed Use
$988.2K
$864.7K – $1.15M
NOI $69,177 @ 7.0% cap · market cap 3.01%
Theoretical Best
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,369 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a leased market space with two renovated apartments.
Where is this mixed-use property located?
The property is located at 1122 Walnut St Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: One commercial space and two apartments; Market and deli tenant has a lease through November 2034; Commercial space renovation completed in 2024
