Storefront with Flexible
For Sale
Contact for pricing
16 S 3RD STREET #COM, Philadelphia, PA 19106
CMX-3-zoned commercial space with adaptable rooms, original hardwood floors, exposed brick, and distributed mini-split systems.
Property Size2,100 SF
Price / SF$1.71
Days on Market53
Property Features for 16 S 3RD STREET #COM
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial
Zoning
CMX-3
Amenities
reception front
closet space
skylight
sliding doors
kitchenette
full bathroom
hardwood floors
exposed brick
mini splits
Building Details
Year Built
1900
Construction
brick
Listing Agency:
Coldwell Banker Realty
(215) 923-7600
Listed By:
Doug Gungor · License #RS306057
(267) 455-2613
Source:
Cummingsrealtors
Added: Aug 28
Changed: Oct 16
Last Checked: Oct 16 at 8:14AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 2,100-square-foot storefront property, built in 1900, combines a reception area with closet storage, a 300-square-foot semi-private room topped by a skylight, and two additional semi-open rooms with sliding doors. The layout also includes a kitchenette with supplemental closet space and a full bathroom, while distributed mini-split systems provide room-by-room temperature control. Original hardwood flooring, exposed brick, and abundant lighting contribute to the interior character.
The property is located in Old City at 16 S 3RD STREET #COM in Philadelphia. CMX-3 zoning supports various permitted uses by right, including retail, office, care, educational, medical, beverage, grocery, pet-related, apparel, radio, television, and studio uses. A full interior reconfiguration is also identified as an option.
The property is located in Old City at 16 S 3RD STREET #COM in Philadelphia. CMX-3 zoning supports various permitted uses by right, including retail, office, care, educational, medical, beverage, grocery, pet-related, apparel, radio, television, and studio uses. A full interior reconfiguration is also identified as an option.
Key Highlights
- 2,100‑square‑foot storefront property in Old City
- CMX‑3 zoning with multiple permitted uses by right
- 300‑square‑foot semi‑private room with skylight
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,735
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,700
$474.7K
Cap Rate 7%
$339,071
$339.1K
Cap Rate 9%
$263,722
$263.7K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$37.8K $18.00/SF
− Vacancy
−$3.9K −$1.85/SF
EGI
$33.9K $16.15/SF
− OpEx
−$10.2K −$4.84/SF
NOI
$23.7K $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 Rate 5%
$474,700
Cap Rate 7%
$339,071
Cap Rate 9%
$263,722
Alternative Uses
Best Use
Retail
$339.1K
$296.7K – $395.6K
NOI $23,735 @ 7.0% cap · market cap 660.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$511.9K
$448.0K – $597.3K
NOI $35,836 @ 7.0% cap · market cap 996.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11,111
Businesses Nearby
81k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 46%
Dining 26%
Groceries 16%
Shops & Services 12%
Le Pain Quotidien
Dining
15,049 visits/mo
0.4 miles
Philadelphia Marriott Old City
Hotels & Casinos
14,972 visits/mo
0.4 miles
ACME Markets
Groceries
12,615 visits/mo
0.5 miles
Kimpton Hotel Monaco Philadelphia
Hotels & Casinos
10,769 visits/mo
0.2 miles
Starbucks
Dining
5,627 visits/mo
0.1 miles
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
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- Ode À La Rose — 622 S 5th St, Philadelphia, PA 19147
- Cedrone's Flowers — 800 Lombard St, Philadelphia, PA 19147
Frequently Asked Questions
What type of property is this?
Storefront property - CMX-3-zoned commercial space with adaptable rooms, original hardwood floors, exposed brick, and distributed mini-split systems.
Where is this storefront property located?
The property is located at 16 S 3RD STREET #COM Philadelphia, PA.
What are key features of this property?
This property features: 2,100‑square‑foot storefront property in Old City; CMX‑3 zoning with multiple permitted uses by right; 300‑square‑foot semi‑private room with skylight
