Mixed-Use Building with Rear
For Sale
$475,000
1217 N 29th St, Philadelphia, PA 19121
Freshly painted property combines business space, basement storage, upper-level flexibility, and outdoor area near Girard Avenue.
Property Size2,064 SF
Price / SF$230.14
Days on Market37
Property Features for 1217 N 29th St
General Information
Standard status
Active
Size
2,064 SF
Building Details
Year Built
1915
Listing Agency:
KW Empower
(215) 431-5431
Listed By:
Stacy L Sanseverino · License #RS281613
Source:
Premierehomegroup
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 29 at 11:44AM
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 KW Empower
Investment Insights
Based on property information with market context.
Built in 1915, this 2,064-square-foot mixed-use property includes a first-floor commercial area, the front portion of the basement, and a rear yard. The main level has a half bath, while the basement offers storage or workshop space. The second floor includes a half bath and kitchenette; the third floor has no bathroom. A rear fire escape connects the upper level with the backyard.
The property is at 1217 N 29th St in Philadelphia’s Brewerytown, just off Girard Avenue. The surrounding corridor includes cafes, creative studios, and small businesses, with Fairmount Park, the Philadelphia Zoo, and I-76 nearby.
The existing layout supports commercial occupancy on the first floor and in the basement, with the upper floors offering a separate configuration for future residential use, subject to applicable requirements.
The property is at 1217 N 29th St in Philadelphia’s Brewerytown, just off Girard Avenue. The surrounding corridor includes cafes, creative studios, and small businesses, with Fairmount Park, the Philadelphia Zoo, and I-76 nearby.
The existing layout supports commercial occupancy on the first floor and in the basement, with the upper floors offering a separate configuration for future residential use, subject to applicable requirements.
Key Highlights
- 2,064‑square‑foot mixed‑use property built in 1915
- First floor, front basement area, and rear yard included
- Basement provides storage or workshop space
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
$27,161
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
5.72%
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%
$543,220
$543.2K
Cap Rate 7%
$388,014
$388.0K
Cap Rate 9%
$301,789
$301.8K
Market Conditions
NOI Build-Up for 2,064 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
$45.3K $21.96/SF
− Vacancy
−$9.1K −$4.41/SF
EGI
$36.2K $17.55/SF
− OpEx
−$9.1K −$4.39/SF
NOI
$27.2K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$543,220
Cap Rate 7%
$388,014
Cap Rate 9%
$301,789
Alternative Uses
Best Use
Office B
$388.0K
$339.5K – $452.7K
NOI $27,161 @ 7.0% cap · market cap 5.72%
Second Best
Mixed Use
$350.3K
$306.5K – $408.7K
NOI $24,520 @ 7.0% cap · market cap 5.16%
Theoretical Best
Multifamily LT 5
$503.2K
$440.3K – $587.0K
NOI $35,222 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,534
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Freshly painted property combines business space, basement storage, upper-level flexibility, and outdoor area near Girard Avenue.
Where is this mixed-use property located?
The property is located at 1217 N 29th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,064‑square‑foot mixed‑use property built in 1915; First floor, front basement area, and rear yard included; Basement provides storage or workshop space
