Mixed-Use Property with 2-Bedroom
For Sale
$375,000
1148 S 9TH STREET, Philadelphia, PA 19147
Two-story residential unit accompanies a commercial space in a tenant-occupied mixed-use building.
Property Size1,379 SF
Days on Market75
Property Features for 1148 S 9TH STREET
General Information
Standard status
Active
Size
1,379 SF
Property subtype
MixedUse
Occupancy
100%
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,945
Building Details
Building Size
1,379 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
Compass Pennsylvania, LLC
(610) 931-5027
Listed By:
Jaimee L Smith · License #AB069165
(610) 931-5027
Source:
Patmckennarealtors
Added: Jun 4
Changed: Aug 15
Last Checked: Aug 16 at 2:54PM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
Built in 1920, this mixed-use property combines a first-floor commercial space with an updated apartment arranged across the upper two floors. The residence includes two bedrooms, creating a clear separation between the commercial and residential components within the building. Both spaces are occupied by tenants, and the property is described as being in good condition.
The property is located at 1148 S 9th Street in Philadelphia’s Italian Market neighborhood. Its combination of street-level commercial space and an upper-level apartment offers a straightforward mixed-use configuration in an established Philadelphia setting.
The property is located at 1148 S 9th Street in Philadelphia’s Italian Market neighborhood. Its combination of street-level commercial space and an upper-level apartment offers a straightforward mixed-use configuration in an established Philadelphia setting.
Key Highlights
- First‑floor commercial space with an upper‑level residential component
- Updated two‑story, 2‑bedroom apartment
- Commercial and residential units are both tenant‑occupied
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
$16,383
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
4.37%
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%
$327,660
$327.7K
Cap Rate 7%
$234,043
$234.0K
Cap Rate 9%
$182,033
$182.0K
Market Conditions
NOI Build-Up for 1,379 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
$29.8K $21.60/SF
− Vacancy
−$3.6K −$2.59/SF
EGI
$26.2K $19.01/SF
− OpEx
−$9.8K −$7.13/SF
NOI
$16.4K $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 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%
$327,660
Cap Rate 7%
$234,043
Cap Rate 9%
$182,033
Alternative Uses
Best Use
Mixed Use
$234.0K
$204.8K – $273.1K
NOI $16,383 @ 7.0% cap · market cap 4.37%
Second Best
Retail
$222.7K
$194.8K – $259.8K
NOI $15,586 @ 7.0% cap · market cap 4.16%
Theoretical Best
Multifamily LT 5
$336.2K
$294.2K – $392.2K
NOI $23,532 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,273
Businesses Nearby
213k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 57%
Shops & Services 26%
Dining 17%
Electronics 1%
Whole Foods Market
Groceries
37,607 visits/mo
0.5 miles
ACME Markets
Groceries
32,911 visits/mo
0.3 miles
Sprouts Farmers Market
Groceries
23,111 visits/mo
0.5 miles
ACME Markets
Groceries
20,427 visits/mo
0.5 miles
Sunoco
Shops & Services
16,488 visits/mo
0.0 miles
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 Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story residential unit accompanies a commercial space in a tenant-occupied mixed-use building.
Where is this mixed-use property located?
The property is located at 1148 S 9TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: First‑floor commercial space with an upper‑level residential component; Updated two‑story, 2‑bedroom apartment; Commercial and residential units are both tenant‑occupied
