Mixed-Use Property with Retail and
For Sale
$849,000
1602 S Broad Street, Philadelphia, PA 19145
Recently rehabbed building offering ground-floor retail and multiple residential units with in-unit washers/dryers and central air.
Property Size3,833 SF
Price / SF$221.50
Days on Market176
Property Features for 1602 S Broad Street
General Information
Standard status
Active
Size
3,833 SF
Property subtype
Commercial
Amenities
luxury residential finishes
in-unit washers and dryers
central air
updated mechanical systems
Electric
Yes
Public
Y50
20.00 x 82.00
0.04
No
Assessor
On Street
3123.00
124520.00
Building Details
Year Built
1915
Year Renovated
2022
Listing Agency:
Opulent Realty Group LLC
(856) 222-0077
Listed By:
Gary Cook
Source:
Thetristaterealestategroup
Added: Feb 4
Changed: Jul 25
Last Checked: Jul 30 at 2:45AM
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.
1602 S Broad Street is a recently rehabbed (2022) mixed-use property featuring ground-floor commercial space and residential apartments above. The residential units include in-unit washers and dryers, central air, and updated mechanical systems.
The property is positioned along the Broad Street corridor in South Philadelphia and is directly adjacent to an entrance to the Broad Street Line, providing direct transit access. The surrounding area includes nearby destinations such as Jefferson Methodist Hospital, the South Philadelphia Sports Complex, the Navy Yard, Passyunk Avenue’s dining and retail, and Center City.
Unit 2 is a two-bedroom, one-bath residence currently leased at $1,936 per month, and Unit 3 is a two-bedroom, two-bath residence leased through August at $2,400 per month, providing near-term rental stability.
The property is positioned along the Broad Street corridor in South Philadelphia and is directly adjacent to an entrance to the Broad Street Line, providing direct transit access. The surrounding area includes nearby destinations such as Jefferson Methodist Hospital, the South Philadelphia Sports Complex, the Navy Yard, Passyunk Avenue’s dining and retail, and Center City.
Unit 2 is a two-bedroom, one-bath residence currently leased at $1,936 per month, and Unit 3 is a two-bedroom, two-bath residence leased through August at $2,400 per month, providing near-term rental stability.
Key Highlights
- Recently rehabbed mixed‑use/multifamily building (2022) with ground‑floor commercial and residential units
- Building area totals 3,123 SF on a 0.04‑acre lot (20 x 82), per assessor records
- Electric heat and central air (central air Y/N: Yes; heating fuel: electric; hot water: electric)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.9k | $25.80 |
| − Vacancy | −$5.4k | −$1.42 |
| EGI | $93.4k | $24.38 |
| − OpEx | −$28.0k | −$7.31 |
| NOI | $65.4k | $17.06 |
3,833 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$934.4K
$817.6K – $1.09M
NOI $65,410 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$861.3K
$753.6K – $1.00M
NOI $60,291 @ 7.0% cap · market cap 7.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
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?
Triplex - Recently rehabbed building offering ground-floor retail and multiple residential units with in-unit washers/dryers and central air.
Where is this triplex located?
The property is located at 1602 S Broad Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Recently rehabbed mixed‑use/multifamily building (2022) with ground‑floor commercial and residential units; Building area totals 3,123 SF on a 0.04‑acre lot (20 x 82), per assessor records; Electric heat and central air (central air Y/N: Yes; heating fuel: electric; hot water: electric)
