New Construction Triplex with Roof
For Sale
$875,000
Pending
1413 North 8th Street, Philadelphia, PA 19122
New construction triplex with modern interiors and a private roof deck accessible from the top unit.
Property Size3,200 SF
Days on Market169
Property Features for 1413 North 8th Street
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$1,651
Amenities
No
No Pool
Building Details
Year Built
2026
Listing Agency:
Compass
Listed By:
Nicholas Keenan · License #RS349766
(215) 514-4789
Source:
Compass
Added: Mar 23
Changed: Aug 8
Last Checked: Jul 24 at 2:08PM
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 Compass
Investment Insights
Based on property information with market context.
1413 N 8th Street presents a one-of-a-kind, newly constructed triplex offering three units with modern open layouts and abundant natural light. Each unit includes quartz countertops and stainless steel appliances, along with designer lighting and plumbing fixtures. The top unit provides access to a private roof deck, offering unobstructed views of Center City.
The property is located blocks from Girard Ave and in the area of Olde Kensington, with nearby retail and dining corridors in Northern Liberties and Fishtown. The listing also notes proximity to one of the city’s newest pickleball and padel clubs.
Additional stated benefits include a 1-year builder warranty and a full 10-year tax abatement.
The property is located blocks from Girard Ave and in the area of Olde Kensington, with nearby retail and dining corridors in Northern Liberties and Fishtown. The listing also notes proximity to one of the city’s newest pickleball and padel clubs.
Additional stated benefits include a 1-year builder warranty and a full 10-year tax abatement.
Key Highlights
- New construction 3‑unit triplex built in 2026
- Modern interiors in each unit with quartz countertops and stainless steel appliances
- Designer lighting and plumbing fixtures with modern open layouts and abundant natural light
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
$54,608
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
6.24%
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%
$1,092,160
$1.1M
Cap Rate 7%
$780,114
$780.1K
Cap Rate 9%
$606,756
$606.8K
Market Conditions
NOI Build-Up for 3,200 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
$82.6K $25.80/SF
− Vacancy
−$4.5K −$1.42/SF
EGI
$78.0K $24.38/SF
− OpEx
−$23.4K −$7.31/SF
NOI
$54.6K $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%
$1,092,160
Cap Rate 7%
$780,114
Cap Rate 9%
$606,756
Alternative Uses
Best Use
Multifamily LT 5
$780.1K
$682.6K – $910.1K
NOI $54,608 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$719.1K
$629.2K – $838.9K
NOI $50,334 @ 7.0% cap · market cap 5.75%
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
2,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
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 - New construction triplex with modern interiors and a private roof deck accessible from the top unit.
Where is this triplex located?
The property is located at 1413 North 8th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: New construction 3‑unit triplex built in 2026; Modern interiors in each unit with quartz countertops and stainless steel appliances; Designer lighting and plumbing fixtures with modern open layouts and abundant natural light
