Three-Story Retail Mixed-Use
For Sale
$395,000
1015 S 9TH STREET, Philadelphia, PA 19147
Three-story CMX-2 property with a turnkey first-floor retail space and raw upper levels accessible by ladder.
Property Size2,328 SF
Days on Market502
Property Features for 1015 S 9TH STREET
General Information
Standard status
Active
Size
2,328 SF
Property subtype
MixedUse
Zoning
CMX-2
Additional Details
Business Included
No
Taxes and HOA fees
Annual Taxes
$5,525
Building Details
Building Size
2,328 SF
Year Built
1915
Stories
3
Listing Agency:
Century 21 Advantage Gold-South Philadelphia
Listed By:
Albert Perry · License #AB066001
(610) 842-4635
Source:
Patmckennarealtors
Added: Apr 22, 2025
Changed: Sep 3
Last Checked: Sep 5 at 7:30AM
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 Century 21 Advantage Gold-South Philadelphia
Investment Insights
Based on property information with market context.
1015 S 9th St is a three-story CMX-2 zoned mixed-use building with an existing first-floor retail space and raw, undeveloped upper floors. The ground level includes a traditional glass storefront secured by a roll-down padlocked gate and is described as turnkey. The space was previously configured for seafood sales and includes negotiable equipment such as ice machines, a walk-in refrigerator box, sorting tables, and other business fixtures.
Access to the second and third floors is currently via a pull-down aluminum ladder, similar to attic access. The upper levels were previously used as a residential unit for the business owner but are now presented as raw, needing renovation.
The CMX-2 designation is described as supporting a wide range of uses, including residential, office, or extended commercial space, offering flexibility for a future redevelopment plan.
Access to the second and third floors is currently via a pull-down aluminum ladder, similar to attic access. The upper levels were previously used as a residential unit for the business owner but are now presented as raw, needing renovation.
The CMX-2 designation is described as supporting a wide range of uses, including residential, office, or extended commercial space, offering flexibility for a future redevelopment plan.
Key Highlights
- 1015 S 9th St is a three‑story CMX‑2 zoned mixed‑use property in Philadelphia’s Italian Market.
- First‑floor retail has a glass storefront with a roll‑down padlocked gate and is described as turnkey.
- Former seafood‑sales space includes negotiable equipment such as ice machines, a walk‑in refrigerator box, and sorting tables.
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
$26,312
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
6.66%
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%
$526,240
$526.2K
Cap Rate 7%
$375,886
$375.9K
Cap Rate 9%
$292,356
$292.4K
Market Conditions
NOI Build-Up for 2,328 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
$41.9K $18.00/SF
− Vacancy
−$4.3K −$1.85/SF
EGI
$37.6K $16.15/SF
− OpEx
−$11.3K −$4.84/SF
NOI
$26.3K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$526,240
Cap Rate 7%
$375,886
Cap Rate 9%
$292,356
Alternative Uses
Best Use
Retail
$375.9K
$328.9K – $438.5K
NOI $26,312 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,727 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,273
Businesses Nearby
213k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 57%
Shops & Services 26%
Dining 17%
Electronics 1%
Whole Foods Market
Groceries
37,607 visits/mo
0.5 miles
ACME Markets
Groceries
32,911 visits/mo
0.3 miles
Sprouts Farmers Market
Groceries
23,111 visits/mo
0.5 miles
ACME Markets
Groceries
20,427 visits/mo
0.5 miles
Sunoco
Shops & Services
16,488 visits/mo
0.0 miles
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three-story CMX-2 property with a turnkey first-floor retail space and raw upper levels accessible by ladder.
Where is this storefront property located?
The property is located at 1015 S 9TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1015 S 9th St is a three‑story CMX‑2 zoned mixed‑use property in Philadelphia’s Italian Market.; First‑floor retail has a glass storefront with a roll‑down padlocked gate and is described as turnkey.; Former seafood‑sales space includes negotiable equipment such as ice machines, a walk‑in refrigerator box, and sorting tables.
