Corner Mixed-Use Investment
1229 S 6th Street Philadelphia, PA 19147
1229 S 6th Street, Philadelphia, PA, 19147
$729,900
For Sale
$729,900
Corner mixed-use building with a ground-floor commercial space and three fully leased 1-bed apartments above.
Property Size2,864 SF
Price / SF$254.85
Days on Market121
Property Features for 1229 S 6th Street
General Information
- Standard status
- Active
- Size
- 2,864 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1915
Listing agency
Compass RE
(267) 334-0686
Listed by
Amira Coleman
(267) 334-0686
Source
Xome
Added: Mar 25 Updated: Jul 21 at 12:54PM Checked: Jul 22 at 3:34AM
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 Compass RE
Investment Insights
Based on property information with market context.
This corner mixed-use property includes three fully leased 1-bedroom, 1-bath apartments located above a ground-floor commercial space. The residential units are described as well maintained, and the building is currently generating monthly income as reported in the listing.
The property is in the Passyunk Square area, with the ground-floor space positioned to support a bakery and coffee shop concept per the current marketing. The listing also notes CMX-2 zoning, which it describes as providing flexibility for continued mixed-use operation or future repositioning.
Overall, the building offers an income-producing structure combining in-place residential leases with a commercial component on the ground floor, designed to support ongoing mixed-use use under the stated zoning classification.
The property is in the Passyunk Square area, with the ground-floor space positioned to support a bakery and coffee shop concept per the current marketing. The listing also notes CMX-2 zoning, which it describes as providing flexibility for continued mixed-use operation or future repositioning.
Overall, the building offers an income-producing structure combining in-place residential leases with a commercial component on the ground floor, designed to support ongoing mixed-use use under the stated zoning classification.
Key Highlights
- Corner mixed‑use building with ground‑floor commercial space and three fully leased 1‑bedroom/1‑bath apartments above
- Currently generating $5,150/month with a 6.7% cap rate and low operating expenses
- Zoned CMX1, supporting continued mixed‑use operation or future repositioning
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.9k | $25.80 |
| − Vacancy | −$4.1k | −$1.42 |
| EGI | $69.8k | $24.38 |
| − OpEx | −$20.9k | −$7.31 |
| NOI | $48.9k | $17.06 |
2,864 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$698.2K
$610.9K – $814.6K
NOI $48,874 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$643.6K
$563.1K – $750.8K
NOI $45,049 @ 7.0% cap · market cap 6.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Vicky Borgia, MD
Physician
Radiance Medical Group
Medical Clinic
DM Covid-19 Test
Medical Clinic
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FAQs
What type of property is this?
Mixed-use property - Corner mixed-use building with a ground-floor commercial space and three fully leased 1-bed apartments above.
Where is this mixed-use property located?
The property is located at 1229 S 6th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: Corner mixed‑use building with ground‑floor commercial space and three fully leased 1‑bedroom/1‑bath apartments above; Currently generating $5,150/month with a 6.7% cap rate and low operating expenses; Zoned CMX1, supporting continued mixed‑use operation or future repositioning
