Three-Unit Multifamily
For Sale
$374,900
1124 SPRING STREET, Sharon Hill, PA 19079
Three rental units support either owner occupancy or leasing of the full property.
Property Size1,990 SF
Price / SF$188.39
Days on Market11
Property Features for 1124 SPRING STREET
General Information
Standard status
Active
Size
1,990 SF
Property subtype
Triplex
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1910
Listing Agency:
Keller Williams Realty Devon-Wayne
(610) 308-5929
Listed By:
D Dana Felt · License #RS283076
(610) 308-5929
Source:
Cummingsrealtors
Added: Jul 31
Changed: Aug 10
Last Checked: Aug 9 at 4:46PM
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 Keller Williams Realty Devon-Wayne
Investment Insights
Based on property information with market context.
This 1,990-square-foot triplex contains three rental units within a building constructed in 1910. The main-level unit is currently unoccupied, while the property’s three-unit configuration supports either owner occupancy with additional leased units or full-property leasing.
Located at 1124 Spring Street in Sharon Hill, Pennsylvania, the property is near shopping and public transportation. The Borough Police Department is also nearby.
Located at 1124 Spring Street in Sharon Hill, Pennsylvania, the property is near shopping and public transportation. The Borough Police Department is also nearby.
Key Highlights
- 1,990‑square‑foot triplex with three rental units
- Main‑level unit is currently unoccupied
- Building constructed in 1910
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
$21,812
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
5.82%
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%
$436,240
$436.2K
Cap Rate 7%
$311,600
$311.6K
Cap Rate 9%
$242,356
$242.4K
Market Conditions
NOI Build-Up for 1,990 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
$35.8K $18.00/SF
− Vacancy
−$4.7K −$2.34/SF
EGI
$31.2K $15.66/SF
− OpEx
−$9.3K −$4.70/SF
NOI
$21.8K $10.96/SF
Area
Delaware County, PA
Vacancy
13.01%
Lease Rate
$18.00 /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%
$436,240
Cap Rate 7%
$311,600
Cap Rate 9%
$242,356
Alternative Uses
Best Use
Multifamily LT 5
$311.6K
$272.7K – $363.5K
NOI $21,812 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$285.0K
$249.4K – $332.5K
NOI $19,949 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$603.3K
$527.9K – $703.9K
NOI $42,234 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 19079, PA
9,371
Population
3,577
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
93%
High-School Grad
1.6 sq mi
ZIP Area
5,857
Density / Sq Mi
$57,002
Median Household Income
$39,926
Median Earnings
$1,212
Median Rent
$159,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three rental units support either owner occupancy or leasing of the full property.
Where is this triplex located?
The property is located at 1124 SPRING STREET Sharon Hill, PA.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: 1,990‑square‑foot triplex with three rental units; Main‑level unit is currently unoccupied; Building constructed in 1910
