Mixed-Use Property with Commercial
New
For Sale
$609,000
1204 E PALMER STREET, Philadelphia, PA 19125
The upper floors contain two one-bedroom apartments, while the ground level is configured for commercial use.
Property Size1,710 SF
Price / SF$356.14
Days on Market2
Property Features for 1204 E PALMER STREET
General Information
Standard status
Active
Size
1,710 SF
Property subtype
Triplex
Zoning
CMX-2
Net Operating Income
$42,500
Financials
Cap Rate
7%
Gross Income
$53,580
Average Monthly Rent
$1,332
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
in-unit washer/dryer
Building Details
Year Built
2016
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(215) 923-7600
Listed By:
Benjamin Katz · License #RS356819
(215) 260-9337
Source:
Cummingsrealtors
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:29AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 1,710-square-foot mixed-use property has three units: a bi-level commercial area at ground level and two efficiency apartments above, each with one bedroom and one bathroom. The apartments include galley kitchens with quartz countertops, in-unit washers and dryers, and front-facing Pella windows. CMX-2 zoning applies to the property. The ground-floor area may also be converted to a residential apartment with a kitchen conversion.
Located on E Palmer Street in Philadelphia’s Fishtown area, the property combines commercial and residential space within one building. The stated cap rate is 7.00%.
Located on E Palmer Street in Philadelphia’s Fishtown area, the property combines commercial and residential space within one building. The stated cap rate is 7.00%.
Key Highlights
- Three‑unit mixed‑use property with 1,710 square feet
- Bi‑level commercial space on the ground floor
- Two upper‑level efficiency apartments, each with one bedroom and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,897
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$537,940
$537.9K
Cap Rate 7%
$384,243
$384.2K
Cap Rate 9%
$298,856
$298.9K
Market Conditions
NOI Build-Up for 1,710 SF
Gross rent
$51.9K $30.36/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$48.9K $28.60/SF
− OpEx
−$22.0K −$12.87/SF
NOI
$26.9K $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%
$537,940
Cap Rate 7%
$384,243
Cap Rate 9%
$298,856
Alternative Uses
Best Use
Apartment 5plus
$384.2K
$336.2K – $448.3K
NOI $26,897 @ 7.0% cap · market cap 4.42%
Second Best
Mixed Use
$290.2K
$253.9K – $338.6K
NOI $20,315 @ 7.0% cap · market cap 3.34%
Theoretical Best
Multifamily LT 5
$416.9K
$364.8K – $486.4K
NOI $29,181 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The upper floors contain two one-bedroom apartments, while the ground level is configured for commercial use.
Where is this mixed-use property located?
The property is located at 1204 E PALMER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: Three‑unit mixed‑use property with 1,710 square feet; Bi‑level commercial space on the ground floor; Two upper‑level efficiency apartments, each with one bedroom and one bathroom
