Mixed-Use Triplex with Commercial
For Sale
$829,000
1648 S 16th St, Philadelphia, PA 19145
First-floor yoga studio accompanies two apartments with in-unit laundry and separate utilities.
Property Size2,976 SF
Price / SF$278.56
Days on Market48
Property Features for 1648 S 16th St
General Information
Standard status
Active
Size
2,976 SF
Occupancy
100%
Site & Location
Neighborhood
Newbold
Public Transit
Yes
Amenities
in-unit laundry
Building Details
Year Built
1915
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
John J Brown · License #AB065043
(215) 778-9600
Source:
Upgradebymichaud
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 28 at 10:16AM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
This mixed-use triplex includes a C-1 commercial area on the ground floor, currently occupied by a yoga studio. Two residential apartments occupy the upper floors, each offering two bedrooms, one bathroom, in-unit laundry, and separate utilities. The property is fully occupied and was built in 1915.
The building is positioned along two transit lines, supporting access for both the commercial occupant and residents. Its configuration combines an operating commercial space with two apartments in a single three-story property.
The building is positioned along two transit lines, supporting access for both the commercial occupant and residents. Its configuration combines an operating commercial space with two apartments in a single three-story property.
Key Highlights
- C‑1 commercial space on the first floor, currently operated as a yoga studio
- Two 2‑bedroom/1‑bathroom apartments on the second and third floors
- In‑unit laundry and separate utilities in both apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,785
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,015,700
$1.0M
Cap Rate 7%
$725,500
$725.5K
Cap Rate 9%
$564,278
$564.3K
Market Conditions
NOI Build-Up for 2,976 SF
Gross rent
$76.8K $25.80/SF
− Vacancy
−$4.2K −$1.42/SF
EGI
$72.6K $24.38/SF
− OpEx
−$21.8K −$7.31/SF
NOI
$50.8K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,015,700
Cap Rate 7%
$725,500
Cap Rate 9%
$564,278
Alternative Uses
Best Use
Multifamily LT 5
$725.5K
$634.8K – $846.4K
NOI $50,785 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$668.7K
$585.1K – $780.2K
NOI $46,811 @ 7.0% cap · market cap 5.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,668
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - First-floor yoga studio accompanies two apartments with in-unit laundry and separate utilities.
Where is this mixed-use property located?
The property is located at 1648 S 16th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: C‑1 commercial space on the first floor, currently operated as a yoga studio; Two 2‑bedroom/1‑bathroom apartments on the second and third floors; In‑unit laundry and separate utilities in both apartments
