Corner Retail
For Sale
$299,000
157 60TH STREET, Philadelphia, PA 19139
Two occupied commercial units feature triple-net leases, central air, and CMX-3 zoning.
Property Size2,240 SF
Price / SF$133.48
Days on Market13
Property Features for 157 60TH STREET
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Retail
Zoning
CMX-3
Occupancy
100%
Financials
Cap Rate
12.8%
Gross Income
$38,400
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$2,483
Amenities
Central Air
3
Parking. Corner Lot.
Public, On Street.
16.00 x 72.00
Corner.
Building Details
Year Built
1915
Stories
2
Tenancy
Multi
Listing Agency:
KW Empower
(267) 907-5691
Listed By:
Eric Woodhead · License #RS375021
(267) 907-5691
Source:
Xome
Added: Aug 20
Changed: Aug 31
Last Checked: Aug 31 at 2:42PM
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.
This 2,240-square-foot retail property contains two fully occupied commercial units with triple-net leases in place. Central air serves the building, which was constructed in 1915. The existing configuration provides an established commercial setup within a compact building footprint.
Located at 157 60th Street in Philadelphia, the property occupies a corner lot with public, on-street parking. CMX-3 zoning adds flexibility to the property’s commercial positioning, while the current leases provide an in-place operating structure. The site measures 16.00 x 72.00 and is positioned at a corner.
Located at 157 60th Street in Philadelphia, the property occupies a corner lot with public, on-street parking. CMX-3 zoning adds flexibility to the property’s commercial positioning, while the current leases provide an in-place operating structure. The site measures 16.00 x 72.00 and is positioned at a corner.
Key Highlights
- Two fully occupied commercial units with triple‑net leases
- 12.8% cap rate
- 2,240 square feet; built in 1915
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
$25,317
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
8.47%
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%
$506,340
$506.3K
Cap Rate 7%
$361,671
$361.7K
Cap Rate 9%
$281,300
$281.3K
Market Conditions
NOI Build-Up for 2,240 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
$40.3K $18.00/SF
− Vacancy
−$4.2K −$1.85/SF
EGI
$36.2K $16.15/SF
− OpEx
−$10.9K −$4.84/SF
NOI
$25.3K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$506,340
Cap Rate 7%
$361,671
Cap Rate 9%
$281,300
Alternative Uses
Best Use
Retail
$361.7K
$316.5K – $422.0K
NOI $25,317 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$546.1K
$477.8K – $637.1K
NOI $38,225 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,724
Businesses Nearby
90k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 38%
Groceries 21%
Electronics 3%
McDonald's
Dining
22,065 visits/mo
0.5 miles
Save-A-Lot
Groceries
18,565 visits/mo
0.4 miles
Dunkin' Donuts
Dining
12,945 visits/mo
0.4 miles
Exxon
Shops & Services
10,451 visits/mo
0.3 miles
AutoZone
Shops & Services
7,230 visits/mo
0.4 miles
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two occupied commercial units feature triple-net leases, central air, and CMX-3 zoning.
Where is this retail space located?
The property is located at 157 60TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two fully occupied commercial units with triple‑net leases; 12.8% cap rate; 2,240 square feet; built in 1915
