Mixed-Use Corner
For Sale
$439,000
136 N 2nd St North 2nd Street, Philadelphia, PA 19106
RM1 zoning permits flexible retail, office, residential, and mixed-use applications.
Property Size1,500 SF
Price / SF$292.67
Days on Market197
Property Features for 136 N 2nd St North 2nd Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
MultiFamily Apartments
Zoning
RM1
Additional Details
Corner Location
Yes
Amenities
additional storage
Listing Agency:
National Realty Commercial
Listed By:
Billy Creagh · License #RM424688
(267) 439-6926
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 5:00PM
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 National Realty Commercial
Investment Insights
Based on property information with market context.
This mixed-use property at 136 N 2nd St in Philadelphia provides 1,500 SF of adaptable retail or office space, along with additional storage. The corner configuration and commercial layout accommodate a range of business formats, while RM1 zoning permits varied commercial and residential uses.
Situated in Philadelphia’s Old City, the property is surrounded by historic landmarks, shops, and dining destinations. Its location on North 2nd Street places the space within a walkable urban setting suited to retail, office, or combined-use occupancy.
Situated in Philadelphia’s Old City, the property is surrounded by historic landmarks, shops, and dining destinations. Its location on North 2nd Street places the space within a walkable urban setting suited to retail, office, or combined-use occupancy.
Key Highlights
- 1,500 SF of retail or office space
- Additional storage included
- Corner property at 136 N 2nd St
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
$19,739
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
4.50%
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%
$394,780
$394.8K
Cap Rate 7%
$281,986
$282.0K
Cap Rate 9%
$219,322
$219.3K
Market Conditions
NOI Build-Up for 1,500 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
$32.9K $21.96/SF
− Vacancy
−$6.6K −$4.41/SF
EGI
$26.3K $17.55/SF
− OpEx
−$6.6K −$4.39/SF
NOI
$19.7K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /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%
$394,780
Cap Rate 7%
$281,986
Cap Rate 9%
$219,322
Alternative Uses
Best Use
Office B
$282.0K
$246.7K – $329.0K
NOI $19,739 @ 7.0% cap · market cap 4.50%
Second Best
Mixed Use
$254.6K
$222.8K – $297.0K
NOI $17,820 @ 7.0% cap · market cap 4.06%
Theoretical Best
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 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
6,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
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?
Mixed-use property - RM1 zoning permits flexible retail, office, residential, and mixed-use applications.
Where is this mixed-use property located?
The property is located at 136 N 2nd St North 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: 1,500 SF of retail or office space; Additional storage included; Corner property at 136 N 2nd St
