Building Details

Building Size 4,731 SF

Year Built 1850

Listing Agency: Mallin Panchelli Nadel Realty Inc

Listed By: Nadia Bilynsky · License #RS311101 Show Phone

Source: Mpnrealty

Added: Oct 16 Last Checked: Oct 16 at 2:39PM

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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.

This mixed-use property contains 4,731 square feet of retail-oriented space in a building constructed in 1850. Its layout is described as adaptable, with commercial use potential, and the structure occupies a corner position.

The property is located at 1137 Spruce St in Philadelphia, Pennsylvania, ZIP code 19107.

Key Highlights

• 4,731 square feet of retail‑oriented space
• Mixed‑use property with an adaptable commercial layout
• Corner position at 1137 Spruce St, Philadelphia, PA 19107

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,204

Cap Rate

2.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,124,080 $1.1M

Cap Rate 7%

$802,914 $802.9K

Cap Rate 9%

$624,489 $624.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,731 SF

Gross rent

$102.2K $21.60/SF

− Vacancy

−$12.3K −$2.59/SF

EGI

$89.9K $19.01/SF

− OpEx

−$33.7K −$7.13/SF

NOI

$56.2K $11.88/SF

Area

Philadelphia, PA

Vacancy

12.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,124,080

Cap Rate 7%

$802,914

Cap Rate 9%

$624,489

Alternative Uses

Best Use

Mixed Use

$802.9K

$702.6K – $936.7K (±1% cap)

NOI $56,204 @ 7.0% cap · market cap 2.96%

Second Best

Retail

$763.9K

$668.4K – $891.2K (±1% cap)

NOI $53,471 @ 7.0% cap · market cap 2.81%

Theoretical Best

Multifamily LT 5

$1.15M

$1.01M – $1.35M (±1% cap)

NOI $80,734 @ 7.0% cap · market cap 4.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Tria Cafe Wash ... Bar & Pub

Suggested Use

Top Pick Tanning Salon (Bike/Boat/Book/etc) Store Clothing & Fashion Store Pet Grooming Service Parking Lot & Garage Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

23,668

Businesses Nearby

180k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 33% Groceries 32% Hotels & Casinos 21% Shops & Services 11%

Whole Foods Market Groceries

37,607 visits/mo 0.2 miles

The Ritz-Carlton, Philadelphia Hotels & Casinos

30,824 visits/mo 0.5 miles

ACME Markets Groceries

20,427 visits/mo 0.2 miles

Ocean Prime Dining

15,550 visits/mo 0.5 miles

Le Pain Quotidien Dining

15,049 visits/mo 0.3 miles

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 Retail in Philadelphia, PA

6.7% 2019

8.2% 2020

7.8% 2021

6.6% 2022

6.2% 2023

5.5% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The adaptable commercial layout is oriented toward retail use within a mixed-use property.

Where is this mixed-use property located?

The property is located at 1137 Spruce St Philadelphia, PA.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: 4,731 square feet of retail‑oriented space; Mixed‑use property with an adaptable commercial layout; Corner position at 1137 Spruce St, Philadelphia, PA 19107