4-Unit Mixed-Use
For Sale
$525,000
1206 North 5th Street, Philadelphia, PA 19122
CMX2-zoned property combines a commercial storefront with residential units and shared laundry.
Property Size2,715 SF
Price / SF$193.37
Days on Market184
Property Features for 1206 North 5th Street
General Information
Standard status
Active
Size
2,715 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX2
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x studio, 2 x 1BR
Multifamily Units
3
Additional Details
Cap Rate
9%
Taxes and HOA fees
Annual Taxes
$4,774
Amenities
shared outdoor space
common laundry
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Philadelphia
(215) 431-5431
Listed By:
Stacy L Sanseverino · License #RS281613
(215) 431-5431
Source:
Compass
Added: Feb 28
Changed: Aug 30
Last Checked: Aug 30 at 1:45PM
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 Keller Williams Philadelphia
Investment Insights
Based on property information with market context.
This 2,715-square-foot mixed-use building, constructed in 1915, contains one commercial storefront, one studio apartment, and two one-bedroom apartments. The property is fully occupied, with a shared outdoor area, basement storage, and common laundry. Residential interiors feature high ceilings and abundant natural light, while the storefront has a traditional facade and is not subject to historical designation.
Located at 1206 North 5th Street in Philadelphia’s Northern Liberties/Olde Kensington corridor, the property sits steps from Girard Avenue and a few blocks from retail and dining along Frankford Avenue, Front Street, and at the Piazza. Bus, subway, and commuter rail stations are each less than 1 mile away.
All leases are month-to-month, and the property is zoned CMX2. Utilities are separately metered except for water and the utilities serving the laundry. The reported cap rate is 9%.
Located at 1206 North 5th Street in Philadelphia’s Northern Liberties/Olde Kensington corridor, the property sits steps from Girard Avenue and a few blocks from retail and dining along Frankford Avenue, Front Street, and at the Piazza. Bus, subway, and commuter rail stations are each less than 1 mile away.
All leases are month-to-month, and the property is zoned CMX2. Utilities are separately metered except for water and the utilities serving the laundry. The reported cap rate is 9%.
Key Highlights
- 4‑unit configuration: 1 commercial storefront, 1 studio apartment, and 2 one‑bedroom apartments
- 2,715 SF mixed‑use building constructed in 1915
- 9% cap rate with full occupancy
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
$42,706
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
8.13%
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%
$854,120
$854.1K
Cap Rate 7%
$610,086
$610.1K
Cap Rate 9%
$474,511
$474.5K
Market Conditions
NOI Build-Up for 2,715 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
$82.4K $30.36/SF
− Vacancy
−$4.8K −$1.76/SF
EGI
$77.6K $28.60/SF
− OpEx
−$34.9K −$12.87/SF
NOI
$42.7K $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 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%
$854,120
Cap Rate 7%
$610,086
Cap Rate 9%
$474,511
Alternative Uses
Best Use
Apartment 5plus
$610.1K
$533.8K – $711.8K
NOI $42,706 @ 7.0% cap · market cap 8.13%
Second Best
Mixed Use
$460.8K
$403.2K – $537.6K
NOI $32,254 @ 7.0% cap · market cap 6.14%
Theoretical Best
Multifamily LT 5
$661.9K
$579.1K – $772.2K
NOI $46,331 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CMX2-zoned property combines a commercial storefront with residential units and shared laundry.
Where is this mixed-use property located?
The property is located at 1206 North 5th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 4‑unit configuration: 1 commercial storefront, 1 studio apartment, and 2 one‑bedroom apartments; 2,715 SF mixed‑use building constructed in 1915; 9% cap rate with full occupancy
