Mixed-Use Property with Dance
New
For Sale
$1,250,000
1170 S Broad Street, Philadelphia, PA 19146
CMX-2-zoned property combines commercial studio space, residential quarters, a detached garage, and an interior courtyard.
Property Size7,000 SF
Lot Size0.13 Acres
Price / SF$178.57
Days on Market6
Property Features for 1170 S Broad Street
General Information
Standard status
Active
Size
7,000 SF
Lot size
0.13 Acres
Property subtype
Commercial
Zoning
CMX-2
Lease Term
[]
Units
Unit Mix
1 x 4BR/2BA
Multifamily Units
1
Additional Details
Road Access
Yes
Building Details
Year Built
1925
Buildings
2
Listing Agency:
Mercury Real Estate Group
Listed By:
Van M Ha · License #RS320713
(215) 806-9196
Source:
Deepcreeklake
Added: Sep 1
Changed: Sep 5
Last Checked: Sep 6 at 10:07AM
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 Mercury Real Estate Group
Investment Insights
Based on property information with market context.
Located at 1170 S Broad Street, this mixed-use property contains nearly 7,000 square feet of building area on a 25.5' by 220' lot. The commercial component spans the first floor, rear portion of the second floor, and basement, with two dance studios, two half baths, an office, and a kitchen. The front of the second floor and the third floor form a four-bedroom, two-bath residential suite.
A detached brick garage provides additional income and accompanies a sizable interior courtyard. The property carries CMX-2 zoning and was built in 1925. Its Philadelphia location offers walkability to Center City, Passyunk Square, the Italian Market, theaters, supermarkets, and fine dining.
A detached brick garage provides additional income and accompanies a sizable interior courtyard. The property carries CMX-2 zoning and was built in 1925. Its Philadelphia location offers walkability to Center City, Passyunk Square, the Italian Market, theaters, supermarkets, and fine dining.
Key Highlights
- Nearly 7,000 square feet of building area on a 25.5' by 220' lot
- CMX‑2 zoning with commercial and residential components
- Two dance studios, two half baths, an office, and a kitchen
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
$83,160
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
6.65%
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%
$1,663,200
$1.7M
Cap Rate 7%
$1,188,000
$1.2M
Cap Rate 9%
$924,000
$924.0K
Market Conditions
NOI Build-Up for 7,000 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
$151.2K $21.60/SF
− Vacancy
−$18.1K −$2.59/SF
EGI
$133.1K $19.01/SF
− OpEx
−$49.9K −$7.13/SF
NOI
$83.2K $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 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%
$1,663,200
Cap Rate 7%
$1,188,000
Cap Rate 9%
$924,000
Alternative Uses
Best Use
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,160 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.71M
$1.49M – $1.99M
NOI $119,454 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CMX-2-zoned property combines commercial studio space, residential quarters, a detached garage, and an interior courtyard.
Where is this mixed-use property located?
The property is located at 1170 S Broad Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Nearly 7,000 square feet of building area on a 25.5' by 220' lot; CMX‑2 zoning with commercial and residential components; Two dance studios, two half baths, an office, and a kitchen
