Mixed-Use Building with
New
For Sale
$577,000
1418 MCKEAN STREET, Philadelphia, PA 19145
A street-to-street configuration pairs commercial space at grade with a bi-level residence above.
Property Size2,096 SF
Price / SF$275.29
Days on Market4
Property Features for 1418 MCKEAN STREET
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Michael R. McCann · License #AB049770L
(215) 709-4141
Source:
Cummingsrealtors
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 10:55AM
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 KW Empower
Investment Insights
Based on property information with market context.
At 1418 McKean Street, this 2,096-square-foot mixed-use building, constructed in 1920, has a commercial space on the ground floor with basement access and a bi-level apartment above. The residence contains one bedroom and 1.5 bathrooms, along with hardwood floors, an eat-in kitchen, in-unit laundry, and a private balcony. Gas hot-air heat and gas hot water serve the building.
The property spans the block between McKean Street and West Passyunk Avenue, with commercial and residential entrances at 1419 West Passyunk and 1418 McKean Street, respectively. East Passyunk businesses and dining are nearby, and the Broad Street Line is within close walking distance.
The property spans the block between McKean Street and West Passyunk Avenue, with commercial and residential entrances at 1419 West Passyunk and 1418 McKean Street, respectively. East Passyunk businesses and dining are nearby, and the Broad Street Line is within close walking distance.
Key Highlights
- 2,096‑square‑foot mixed‑use property built in 1920
- Street‑to‑street building with addresses on McKean Street and West Passyunk Avenue
- Ground‑floor commercial space with direct basement access
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
$24,900
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
4.32%
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%
$498,000
$498.0K
Cap Rate 7%
$355,714
$355.7K
Cap Rate 9%
$276,667
$276.7K
Market Conditions
NOI Build-Up for 2,096 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
$45.3K $21.60/SF
− Vacancy
−$5.4K −$2.59/SF
EGI
$39.8K $19.01/SF
− OpEx
−$14.9K −$7.13/SF
NOI
$24.9K $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%
$498,000
Cap Rate 7%
$355,714
Cap Rate 9%
$276,667
Alternative Uses
Best Use
Mixed Use
$355.7K
$311.3K – $415.0K
NOI $24,900 @ 7.0% cap · market cap 4.32%
Second Best
Retail
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 4.11%
Theoretical Best
Multifamily LT 5
$511.0K
$447.1K – $596.1K
NOI $35,768 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,060
Businesses Nearby
86k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 16%
Electronics 2%
Apparel 2%
Citizens Bank
Shops & Services
16,632 visits/mo
0.1 miles
TD Bank
Shops & Services
14,055 visits/mo
0.2 miles
Lukoil
Shops & Services
12,912 visits/mo
0.4 miles
Wells Fargo
Shops & Services
8,249 visits/mo
0.3 miles
7-Eleven
Shops & Services
7,109 visits/mo
0.4 miles
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A street-to-street configuration pairs commercial space at grade with a bi-level residence above.
Where is this mixed-use property located?
The property is located at 1418 MCKEAN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $577,000.
What are key features of this property?
This property features: 2,096‑square‑foot mixed‑use property built in 1920; Street‑to‑street building with addresses on McKean Street and West Passyunk Avenue; Ground‑floor commercial space with direct basement access
