3-Unit Mixed-Use
New
For Sale
$719,000
1206 E PALMER STREET, Philadelphia, PA 19125
CMX-2 zoning and a vacant commercial space complement two upper-level apartments.
Property Size2,418 SF
Days on Market5
Property Features for 1206 E PALMER STREET
General Information
Standard status
Active
Size
2,418 SF
Property subtype
Triplex
Zoning
CMX-2
Net Operating Income
$54,590
Financials
Cap Rate
7.6%
Gross Income
$70,440
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,784
Amenities
private rear patio
in-unit washer/dryer
quartz countertops
Pella windows
Building Details
Building Size
2,418 SF
Year Built
2016
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Benjamin Katz · License #RS356819
(215) 260-9337
Source:
Patmckennarealtors
Added: Oct 18
Changed: Oct 21
Last Checked: Oct 21 at 2:08AM
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 three-unit property pairs a bi-level ground-floor commercial space with two upper-level apartments. The commercial area includes a lower-level kitchen, two full bathrooms, a private rear patio, and an in-unit washer and dryer. The two apartments each have two bedrooms and one bathroom, along with kitchens featuring quartz countertops, Pella windows, and in-unit laundry. CMX-2 zoning applies to the property, and the commercial space is vacant following the departure of its prior tenant.
Situated in Philadelphia’s Fishtown neighborhood, the building was constructed in 2016. Its layout combines commercial space with two residential units under one property.
Situated in Philadelphia’s Fishtown neighborhood, the building was constructed in 2016. Its layout combines commercial space with two residential units under one property.
Key Highlights
- Three units: one bi‑level commercial space and two residential apartments
- CMX‑2 commercial mixed‑use zoning
- Commercial area includes a lower‑level kitchen, two full bathrooms, private rear patio, and in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,034
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$760,680
$760.7K
Cap Rate 7%
$543,343
$543.3K
Cap Rate 9%
$422,600
$422.6K
Market Conditions
NOI Build-Up for 2,418 SF
Gross rent
$73.4K $30.36/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$69.2K $28.60/SF
− OpEx
−$31.1K −$12.87/SF
NOI
$38.0K $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%
$760,680
Cap Rate 7%
$543,343
Cap Rate 9%
$422,600
Alternative Uses
Best Use
Apartment 5plus
$543.3K
$475.4K – $633.9K
NOI $38,034 @ 7.0% cap · market cap 5.29%
Second Best
Mixed Use
$410.4K
$359.1K – $478.8K
NOI $28,726 @ 7.0% cap · market cap 4.00%
Theoretical Best
Multifamily LT 5
$589.5K
$515.8K – $687.7K
NOI $41,263 @ 7.0% cap · market cap 5.74%
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
3,151
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - CMX-2 zoning and a vacant commercial space complement two upper-level apartments.
Where is this mixed-use property located?
The property is located at 1206 E PALMER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Three units: one bi‑level commercial space and two residential apartments; CMX‑2 commercial mixed‑use zoning; Commercial area includes a lower‑level kitchen, two full bathrooms, private rear patio, and in‑unit washer and dryer
