Mixed-Use Property With Back
1542 N 15th Street, Philadelphia, PA 19121
For Sale
$1,200,000
Fully occupied property combining a commercial storefront with four residential units.
Property Size4,230 SF
Price / SF$283.69
Days on Market877
Property Features for 1542 N 15th Street
General Information
Standard status
Size
Property subtype
Occupancy
Lease Term
Site & Location
Neighborhood
Additional Details
Gross Income
Multifamily Units
Building Details
Year Built
Tenancy
Listing Agency:
RE/MAX Select Group
Listed By:
Marco A Troche · License #RS309601
(267) 255-8132
Source:
Deepcreeklake
Added: Jun 14, 2024
Changed: Nov 6
Last Checked: Nov 6 at 10:14AM
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 RE/MAX Select Group
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Investment Insights
Based on property information with market context.
Built in 1915, this mixed-use property contains five rental units, including a front commercial space and four residential apartments. The building is fully occupied, with established commercial tenancy and residential units positioned for student-oriented housing near Temple University. The property extends from block to block and includes a substantial rear lot. Plans and blueprints for additional construction on that portion are included, providing documented expansion concepts for the site.
The property is located one block from Temple University and within walking distance of Morgan Hall, the Liacouras Center, an AMC movie theater, and a shopping center. Its combination of existing residential and commercial occupancy, rear-land area, and included construction plans creates a flexible mixed-use configuration in an active university-area setting.
The property is located one block from Temple University and within walking distance of Morgan Hall, the Liacouras Center, an AMC movie theater, and a shopping center. Its combination of existing residential and commercial occupancy, rear-land area, and included construction plans creates a flexible mixed-use configuration in an active university-area setting.
Key Highlights
- Five total rental units: one commercial space and four residential units
- Fully occupied with long‑term commercial tenancy
- One block from Temple University
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,536
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,330,720
$1.3M
Cap Rate 7%
$950,514
$950.5K
Cap Rate 9%
$739,289
$739.3K
Market Conditions
NOI Build-Up for 4,230 SF
Gross rent
$128.4K $30.36/SF
− Vacancy
−$7.4K −$1.76/SF
EGI
$121.0K $28.60/SF
− OpEx
−$54.4K −$12.87/SF
NOI
$66.5K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,330,720
Cap Rate 7%
$950,514
Cap Rate 9%
$739,289
Alternative Uses
Best Use
Apartment 5plus
$950.5K
$831.7K – $1.11M
NOI $66,536 @ 7.0% cap · market cap 5.54%
Second Best
Mixed Use
$717.9K
$628.2K – $837.5K
NOI $50,252 @ 7.0% cap · market cap 4.19%
Theoretical Best
Multifamily LT 5
$1.03M
$902.3K – $1.20M
NOI $72,185 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,265
Businesses Nearby
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Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Philadelphia, PA
Properties on Market for Mixed-use properties in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combining a commercial storefront with four residential units.
Where is this mixed-use property located?
The property is located at 1542 N 15th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Five total rental units: one commercial space and four residential units; Fully occupied with long‑term commercial tenancy; One block from Temple University
