Framing-Complete Triplex
For Sale
$475,000
1410 S 9Th Street, Philadelphia, PA 19147
Three-family zoning approved for a 3-story building, with framing complete and ready for interior finishes.
Property Size2,090 SF
Price / SF$227.27
Days on Market158
Property Features for 1410 S 9Th Street
General Information
Standard status
Active
Size
2,090 SF
Property subtype
Multi-Family
Zoning
RSA5
Taxes and HOA fees
Annual Taxes
$6,362
Amenities
Wood
Natural Gas
Yes
Electric,Natural Gas
No
Assessor
No Pool
Public
U50
16.00 x 70.00
0.03
On Street
Brick/Mortar
90900.00
Building Details
Building Size
2,090 SF
Year Built
1915
Stories
3
Listing Agency:
EXP Realty, LLC
(856) 630-4482
Listed By:
Julia Joyce-Hall · License #1540241
(856) 630-4482
Source:
Thetristaterealestategroup
Added: Mar 17
Changed: Aug 20
Last Checked: Aug 21 at 4:22AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 3-story building is configured for a three-family setup under approved 3-family zoning. Framing is complete, providing a head start toward interiors and finishes, with the property positioned for continued development through completion of the remaining work.
The lot measures 16 x 70. The building is described as being near shops, restaurants, transit, and parks, supporting a tenant-oriented residential setting.
For investors or owner-occupants, the property offers a straightforward path to finish a triplex under an approved multi-family framework. It may also fit developers looking for a project where structural framing has already been completed, with the next steps focused on interior build-out and finishing.
The lot measures 16 x 70. The building is described as being near shops, restaurants, transit, and parks, supporting a tenant-oriented residential setting.
For investors or owner-occupants, the property offers a straightforward path to finish a triplex under an approved multi-family framework. It may also fit developers looking for a project where structural framing has already been completed, with the next steps focused on interior build-out and finishing.
Key Highlights
- Three‑family zoning approved for a 3‑story building.
- Lot is 16 x 70 (0.03 acres), per Assessor.
- Framing is complete and the building is ready for interior finishes.
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
$35,666
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
7.51%
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%
$713,320
$713.3K
Cap Rate 7%
$509,514
$509.5K
Cap Rate 9%
$396,289
$396.3K
Market Conditions
NOI Build-Up for 2,090 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
$53.9K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$51.0K $24.38/SF
− OpEx
−$15.3K −$7.31/SF
NOI
$35.7K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$713,320
Cap Rate 7%
$509,514
Cap Rate 9%
$396,289
Alternative Uses
Best Use
Multifamily LT 5
$509.5K
$445.8K – $594.4K
NOI $35,666 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$469.6K
$410.9K – $547.9K
NOI $32,875 @ 7.0% cap · market cap 6.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,201
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family zoning approved for a 3-story building, with framing complete and ready for interior finishes.
Where is this triplex located?
The property is located at 1410 S 9Th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three‑family zoning approved for a 3‑story building.; Lot is 16 x 70 (0.03 acres), per Assessor.; Framing is complete and the building is ready for interior finishes.
