Corner Mixed-Use
For Sale
$1,750,000
632 North 2nd Street, Philadelphia, PA 19123
The building dates to 1920 and occupies a corner position.
Property Size5,976 SF
Days on Market73
Property Features for 632 North 2nd Street
General Information
Standard status
Active
Size
5,976 SF
Property subtype
Mixed Use
Additional Details
Corner Location
Yes
Building Details
Building Size
5,976 SF
Year Built
1920
Listing Agency:
MPN Realty, Inc.
Listed By:
Nadia Bilynsky · License #RS311101
(267) 546-1718
Source:
Mpnrealty
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 31 at 2:04PM
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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property at 632 North 2nd Street presents a corner configuration with a building dating to 1920. The address is in Philadelphia, Pennsylvania 19123, providing a clearly identified urban setting for the asset.
Key Highlights
- Mixed‑use property at 632 North 2nd Street, Philadelphia, PA 19123
- Building constructed in 1920
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
$70,995
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
4.06%
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%
$1,419,900
$1.4M
Cap Rate 7%
$1,014,214
$1.0M
Cap Rate 9%
$788,833
$788.8K
Market Conditions
NOI Build-Up for 5,976 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
$129.1K $21.60/SF
− Vacancy
−$15.5K −$2.59/SF
EGI
$113.6K $19.01/SF
− OpEx
−$42.6K −$7.13/SF
NOI
$71.0K $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%
$1,419,900
Cap Rate 7%
$1,014,214
Cap Rate 9%
$788,833
Alternative Uses
Best Use
Mixed Use
$1.01M
$887.4K – $1.18M
NOI $70,995 @ 7.0% cap · market cap 4.06%
Second Best
Retail
$964.9K
$844.3K – $1.13M
NOI $67,542 @ 7.0% cap · market cap 3.86%
Theoretical Best
Multifamily LT 5
$1.46M
$1.27M – $1.70M
NOI $101,980 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,901
Businesses Nearby
88k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 50%
Shops & Services 41%
Dining 7%
Electronics 1%
Target
Superstores
43,947 visits/mo
0.4 miles
Lukoil
Shops & Services
22,388 visits/mo
0.1 miles
Dunkin' Donuts
Dining
6,253 visits/mo
0.2 miles
PNC Bank
Shops & Services
3,856 visits/mo
0.5 miles
Carvana
Shops & Services
3,310 visits/mo
0.5 miles
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
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 - The building dates to 1920 and occupies a corner position.
Where is this mixed-use property located?
The property is located at 632 North 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Mixed‑use property at 632 North 2nd Street, Philadelphia, PA 19123; Building constructed in 1920
