Three-Story Corner Mixed-Use
For Sale
$1,250,000
1557-1559 N 29TH STREET, Philadelphia, PA 19121
Ground-floor commercial space includes a liquor license, while separate rear access serves the residential circulation.
Property Size4,500 SF
Price / SF$277.78
Days on Market22
Property Features for 1557-1559 N 29TH STREET
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Asking Price
$1,250,000
Liquor License
Yes
Multifamily Units
5
Building Details
Year Built
1925
Buildings
2
Stories
3
Tenancy
Multi
Listing Agency:
Opulent Realty Group LLC
(610) 206-3955
Listed By:
Amyia Saihra Mccarthy · License #rs345785
(314) 584-9164
Source:
Cummingsrealtors
Added: Sep 6
Changed: Sep 26
Last Checked: Sep 26 at 9:40AM
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 Opulent Realty Group LLC
Investment Insights
Based on property information with market context.
The three-story mixed-use building combines a ground-floor corner commercial unit with five residential rentals arranged across the second and third floors. Residential layouts include a mix of two-bedroom and one-bedroom units. One portion at 1557 N 29th Street has been remodeled with updated kitchens, bathrooms, flooring, paint, and mechanical systems. The commercial space includes a liquor license, with any transfer subject to PLCB approval.
Located at 1557-1559 N 29th Street in Philadelphia’s Brewerytown/Sharswood corridor, the property has two full street frontages at the corner, supporting storefront exposure, signage, and natural light. Rear access separates residential circulation from the commercial entrance. Architectural renderings depict a potential exterior repositioning with full-height glazing, wood and charcoal cladding, restored brick, and a steel entry canopy. The property was built in 1925.
Located at 1557-1559 N 29th Street in Philadelphia’s Brewerytown/Sharswood corridor, the property has two full street frontages at the corner, supporting storefront exposure, signage, and natural light. Rear access separates residential circulation from the commercial entrance. Architectural renderings depict a potential exterior repositioning with full-height glazing, wood and charcoal cladding, restored brick, and a steel entry canopy. The property was built in 1925.
Key Highlights
- Three‑story corner mixed‑use property at 1557‑1559 N 29th Street
- Ground‑floor commercial unit carries a liquor license, subject to PLCB approval for transfer
- Five residential rentals across the second and third floors
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
$70,783
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
5.66%
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%
$1,415,660
$1.4M
Cap Rate 7%
$1,011,186
$1.0M
Cap Rate 9%
$786,478
$786.5K
Market Conditions
NOI Build-Up for 4,500 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
$136.6K $30.36/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$128.7K $28.60/SF
− OpEx
−$57.9K −$12.87/SF
NOI
$70.8K $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 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%
$1,415,660
Cap Rate 7%
$1,011,186
Cap Rate 9%
$786,478
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$884.8K – $1.18M
NOI $70,783 @ 7.0% cap · market cap 5.66%
Second Best
Mixed Use
$763.7K
$668.3K – $891.0K
NOI $53,460 @ 7.0% cap · market cap 4.28%
Theoretical Best
Multifamily LT 5
$1.10M
$959.9K – $1.28M
NOI $76,792 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space includes a liquor license, while separate rear access serves the residential circulation.
Where is this mixed-use property located?
The property is located at 1557-1559 N 29TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑story corner mixed‑use property at 1557‑1559 N 29th Street; Ground‑floor commercial unit carries a liquor license, subject to PLCB approval for transfer; Five residential rentals across the second and third floors
