Two-Story Retail Pharmacy
For Sale
$390,000
1631 South St, Philadelphia, PA 19146
Two-story retail condo currently operating as an owner-occupied pharmacy with ground-floor retail and lower office/storage space.
Property Size1,274 SF
Price / SF$306.12
Days on Market46
Property Features for 1631 South St
General Information
Standard status
Active
Size
1,274 SF
Building Details
Year Built
1900
Stories
2
Listing Agency:
Mallin Panchelli Nadel Realty Inc
Listed By:
Michael Aaron Kauffman · License #RS345545
(215) 882-2125
Source:
Kandorre
Added: Jul 21
Changed: Sep 3
Last Checked: Sep 1 at 8:35PM
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 Mallin Panchelli Nadel Realty Inc
Investment Insights
Based on property information with market context.
This two-story retail condo is currently operating as an owner-occupied, active pharmacy. The ground floor provides retail space, while the downstairs level includes office, storage, and conference space.
Located in the Graduate Hospital business district, the property is positioned for an owner-occupant or investor seeking a ready-to-operate pharmacy configuration.
The layout supports both customer-facing retail operations and functional back-of-house use with dedicated office, storage, and meeting/conference space on the lower level.
Located in the Graduate Hospital business district, the property is positioned for an owner-occupant or investor seeking a ready-to-operate pharmacy configuration.
The layout supports both customer-facing retail operations and functional back-of-house use with dedicated office, storage, and meeting/conference space on the lower level.
Key Highlights
- Two‑story retail condo built in 1900 in the Graduate Hospital business district
- Currently operating as an owner‑occupied, active pharmacy
- Ground‑floor retail space with downstairs office, storage, and conference 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
$18,460
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
4.73%
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%
$369,200
$369.2K
Cap Rate 7%
$263,714
$263.7K
Cap Rate 9%
$205,111
$205.1K
Market Conditions
NOI Build-Up for 1,274 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
$26.8K $21.00/SF
− Vacancy
−$2.1K −$1.68/SF
EGI
$24.6K $19.32/SF
− OpEx
−$6.2K −$4.83/SF
NOI
$18.5K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /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%
$369,200
Cap Rate 7%
$263,714
Cap Rate 9%
$205,111
Alternative Uses
Best Use
Specialty Retail
$263.7K
$230.8K – $307.7K
NOI $18,460 @ 7.0% cap · market cap 4.73%
Second Best
Office B
$239.5K
$209.6K – $279.4K
NOI $16,765 @ 7.0% cap · market cap 4.30%
Theoretical Best
Multifamily LT 5
$310.6K
$271.8K – $362.4K
NOI $21,741 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13,820
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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?
Drug store - Two-story retail condo currently operating as an owner-occupied pharmacy with ground-floor retail and lower office/storage space.
Where is this drug store located?
The property is located at 1631 South St Philadelphia, PA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑story retail condo built in 1900 in the Graduate Hospital business district; Currently operating as an owner‑occupied, active pharmacy; Ground‑floor retail space with downstairs office, storage, and conference space
