Mixed-Use Property With Back
For Sale
$1,200,000
1542 N 15th Street, Philadelphia, PA 19121
Fully occupied property combining a commercial storefront with four residential units.
Property Size4,230 SF
Price / SF$283.69
Days on Market781
Property Features for 1542 N 15th Street
General Information
Standard status
Active
Size
4,230 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Additional Details
Gross Income
$101,500
Multifamily Units
4
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
RE/MAX Select Group
Listed By:
Marco A Troche · License #RS309601
(267) 255-8132
Source:
Deepcreeklake
Added: Aug 1, 2024
Changed: Sep 19
Last Checked: Sep 20 at 9:11AM
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 RE/MAX Select Group
Investment Insights
Based on property information with market context.
Built in 1915, this mixed-use property contains five rental units, including a front commercial space and four residential apartments. The building is fully occupied, with established commercial tenancy and residential units positioned for student-oriented housing near Temple University. The property extends from block to block and includes a substantial rear lot. Plans and blueprints for additional construction on that portion are included, providing documented expansion concepts for the site.
The property is located one block from Temple University and within walking distance of Morgan Hall, the Liacouras Center, an AMC movie theater, and a shopping center. Its combination of existing residential and commercial occupancy, rear-land area, and included construction plans creates a flexible mixed-use configuration in an active university-area setting.
The property is located one block from Temple University and within walking distance of Morgan Hall, the Liacouras Center, an AMC movie theater, and a shopping center. Its combination of existing residential and commercial occupancy, rear-land area, and included construction plans creates a flexible mixed-use configuration in an active university-area setting.
Key Highlights
- Five total rental units: one commercial space and four residential units
- Fully occupied with long‑term commercial tenancy
- One block from Temple University
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
$66,536
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
5.54%
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%
$1,330,720
$1.3M
Cap Rate 7%
$950,514
$950.5K
Cap Rate 9%
$739,289
$739.3K
Market Conditions
NOI Build-Up for 4,230 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
$128.4K $30.36/SF
− Vacancy
−$7.4K −$1.76/SF
EGI
$121.0K $28.60/SF
− OpEx
−$54.4K −$12.87/SF
NOI
$66.5K $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%
$1,330,720
Cap Rate 7%
$950,514
Cap Rate 9%
$739,289
Alternative Uses
Best Use
Apartment 5plus
$950.5K
$831.7K – $1.11M
NOI $66,536 @ 7.0% cap · market cap 5.54%
Second Best
Mixed Use
$717.9K
$628.2K – $837.5K
NOI $50,252 @ 7.0% cap · market cap 4.19%
Theoretical Best
Multifamily LT 5
$1.03M
$902.3K – $1.20M
NOI $72,185 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,265
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combining a commercial storefront with four residential units.
Where is this mixed-use property located?
The property is located at 1542 N 15th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Five total rental units: one commercial space and four residential units; Fully occupied with long‑term commercial tenancy; One block from Temple University
