Three-Story Corner Mixed-Use
New
For Sale
$1,250,000
15571559 29TH STREET, Philadelphia, PA 19121
Ground-floor commercial space includes a liquor license, while separate rear access supports the residential areas.
Property Size4,500 SF
Price / SF$277.78
Days on Market6
Property Features for 15571559 29TH STREET
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Mixed Use
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Asking Price
$1,250,000
Liquor License
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,320
Amenities
Central Air
3
Corner Lot.
No Parking.
15.95 x 66.00
Other, Corner.
Building Details
Year Built
1925
Stories
3
Listing Agency:
Opulent Realty Group LLC
(610) 206-3955
Listed By:
Amyia Mccarthy
(314) 584-9164
Source:
Xome
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 9 at 5:39AM
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.
This three-story mixed-use property combines a ground-floor commercial unit with five residential rentals on the upper levels, creating six income units in total. The residential layout includes one-bedroom and two-bedroom apartments. One residential portion has been remodeled with updated kitchens, bathrooms, flooring, paint, and mechanical systems. Separate rear access keeps residential circulation distinct from the commercial entrance.
Positioned on a corner parcel, the commercial space benefits from two street frontages, natural light, and exposure on both sides of the building. The liquor license conveys with the property, subject to PLCB approval. The building contains approximately 4,500 square feet, was built in 1925, and has no parking.
Positioned on a corner parcel, the commercial space benefits from two street frontages, natural light, and exposure on both sides of the building. The liquor license conveys with the property, subject to PLCB approval. The building contains approximately 4,500 square feet, was built in 1925, and has no parking.
Key Highlights
- Six total income units: five residential rentals above one ground‑floor commercial unit
- Liquor license included with the commercial space, subject to PLCB approval
- Corner property with two street frontages
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
Yes
Paved road access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,228
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 supports the residential areas.
Where is this mixed-use property located?
The property is located at 15571559 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: Six total income units: five residential rentals above one ground‑floor commercial unit; Liquor license included with the commercial space, subject to PLCB approval; Corner property with two street frontages
