Three-Story Mixed-Use
For Sale
$449,900
1015 S 9TH STREET, Philadelphia, PA 19147
CMX-2 zoning supports retail, residential, office, or expanded commercial use in Philadelphia’s Italian Market.
Property Size2,328 SF
Days on Market479
Property Features for 1015 S 9TH STREET
General Information
Standard status
Active
Size
2,328 SF
Elevators
No
Property subtype
MixedUse
Zoning
CMX-2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,525
Building Details
Building Size
2,328 SF
Year Built
1915
Buildings
1
Stories
3
Owner Occupied
No
Listing Agency:
Century 21 Advantage Gold-South Philadelphia
(610) 842-4635
Listed By:
Albert Perry · License #AB066001
(610) 842-4635
Source:
Patmckennarealtors
Added: Apr 22, 2025
Changed: Aug 11
Last Checked: Aug 12 at 2:28PM
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.
Built in 1915, this three-story mixed-use property combines a street-level retail area with two upper floors requiring renovation. The first floor has an open layout, glass storefront, and roll-down security gate. Negotiable business equipment includes ice machines, a walk-in refrigerator box, sorting tables, and other fixtures. Upper-floor access is currently provided by a pull-down aluminum ladder, and the former residential area remains raw and undeveloped.
The property is located on S 9th Street within Philadelphia’s Italian Market, a commercial corridor with vendors, residents, and visitors. CMX-2 zoning supports residential, office, and expanded commercial uses, providing flexibility for a future configuration. The site is within walking distance of Center City and near Bella Vista, Passyunk Square, Queen Village, and Washington Square West, with access to public transportation and major commuter routes.
The property is located on S 9th Street within Philadelphia’s Italian Market, a commercial corridor with vendors, residents, and visitors. CMX-2 zoning supports residential, office, and expanded commercial uses, providing flexibility for a future configuration. The site is within walking distance of Center City and near Bella Vista, Passyunk Square, Queen Village, and Washington Square West, with access to public transportation and major commuter routes.
Key Highlights
- Three‑story mixed‑use property built in 1915
- CMX‑2 zoning supports residential, office, and expanded commercial uses
- Street‑level retail area with glass storefront and roll‑down security gate
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
$27,657
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
6.15%
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%
$553,140
$553.1K
Cap Rate 7%
$395,100
$395.1K
Cap Rate 9%
$307,300
$307.3K
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
$50.3K $21.60/SF
− Vacancy
−$6.0K −$2.59/SF
EGI
$44.3K $19.01/SF
− OpEx
−$16.6K −$7.13/SF
NOI
$27.7K $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$553,140
Cap Rate 7%
$395,100
Cap Rate 9%
$307,300
Alternative Uses
Best Use
Mixed Use
$395.1K
$345.7K – $461.0K
NOI $27,657 @ 7.0% cap · market cap 6.15%
Second Best
Retail
$375.9K
$328.9K – $438.5K
NOI $26,312 @ 7.0% cap · market cap 5.85%
Theoretical Best
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,727 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,827
Businesses Nearby
99k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 40%
Dining 13%
Electronics 1%
ACME Markets
Groceries
32,911 visits/mo
0.2 miles
Sunoco
Shops & Services
16,488 visits/mo
0.2 miles
Lukoil
Shops & Services
12,955 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,824 visits/mo
0.2 miles
Fine Wine & Good Spirits
Groceries
7,090 visits/mo
0.1 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?
Mixed-use property - CMX-2 zoning supports retail, residential, office, or expanded commercial use in Philadelphia’s Italian Market.
Where is this mixed-use 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 $449,900.
What are key features of this property?
This property features: Three‑story mixed‑use property built in 1915; CMX‑2 zoning supports residential, office, and expanded commercial uses; Street‑level retail area with glass storefront and roll‑down security gate
