3-Unit Triplex with Walk-Out
New
For Sale
$300,000
1502 MOORE STREET, Philadelphia, PA 19145
CMX-2 zoning supports consideration of residential, mixed-use, or commercial configurations, subject to applicable approvals.
Property Size2,002 SF
Days on Market4
Property Features for 1502 MOORE STREET
General Information
Standard status
Active
Size
2,002 SF
Property subtype
Duplex
Zoning
CMX-2
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,977
Building Details
Building Size
2,002 SF
Year Built
1920
Listing Agency:
Keller Williams Real Estate - Media
Listed By:
Pia Arellano · License #367858
(917) 966-0221
Source:
Patmckennarealtors
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:44PM
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 Keller Williams Real Estate - Media
Investment Insights
Based on property information with market context.
This 3-unit triplex at 1502 Moore Street includes a walk-out basement and dates to 1920. The property is zoned CMX-2, with potential configurations that include residential, mixed-use, or commercial uses, subject to zoning and permitting requirements. It is being sold as-is, and the seller will not complete repairs or improvements.
The property is near Broad Street, public transportation, Passyunk Square, Center City, and neighborhood businesses, cafes, and dining. The source also identifies parking as convenient, but provides no count or further specifications.
The property is near Broad Street, public transportation, Passyunk Square, Center City, and neighborhood businesses, cafes, and dining. The source also identifies parking as convenient, but provides no count or further specifications.
Key Highlights
- Three units
- CMX‑2 zoning; residential, mixed‑use, or commercial possibilities subject to zoning and permitting
- Walk‑out basement
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
$23,784
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
7.93%
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%
$475,680
$475.7K
Cap Rate 7%
$339,771
$339.8K
Cap Rate 9%
$264,267
$264.3K
Market Conditions
NOI Build-Up for 2,002 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
$43.2K $21.60/SF
− Vacancy
−$5.2K −$2.59/SF
EGI
$38.1K $19.01/SF
− OpEx
−$14.3K −$7.13/SF
NOI
$23.8K $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%
$475,680
Cap Rate 7%
$339,771
Cap Rate 9%
$264,267
Alternative Uses
Best Use
Multifamily LT 5
$488.1K
$427.1K – $569.4K
NOI $34,164 @ 7.0% cap · market cap 11.39%
Second Best
Apartment 5plus
$449.9K
$393.6K – $524.8K
NOI $31,490 @ 7.0% cap · market cap 10.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,142
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - CMX-2 zoning supports consideration of residential, mixed-use, or commercial configurations, subject to applicable approvals.
Where is this triplex located?
The property is located at 1502 MOORE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Three units; CMX‑2 zoning; residential, mixed‑use, or commercial possibilities subject to zoning and permitting; Walk‑out basement
