Mixed-Use Building with
For Sale
$1,490,000
1724 S 7TH STREET, Philadelphia, PA 19148
Former temple/prayer center with office and warehouse space plus an attached three-story building with rental income.
Property Size6,480 SF
Price / SF$229.94
Days on Market101
Property Features for 1724 S 7TH STREET
General Information
Standard status
Active
Size
6,480 SF
Property subtype
Commercial
Zoning
CMX-1
Site & Location
Neighborhood
Dickinson Narrows
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
EXIT Elevate Realty
(215) 623-6000
Listed By:
Alex Lam · License #2439536
(267) 307-6347
Source:
Cummingsrealtors
Added: Jul 22
Changed: Oct 29
Last Checked: Oct 28 at 8:38AM
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 EXIT Elevate Realty
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Investment Insights
Based on property information with market context.
This mixed-use property includes a former temple/prayer center featuring office and warehouse space, offering a versatile configuration for a range of potential uses (subject to zoning and required approvals). The offering also includes an attached three-story mixed-use building currently generating rental income.
In the attached building, a neighborhood bodega occupies the first floor, with two well-sized residential units above. Each apartment is described as having two bedrooms and one bathroom.
The property is zoned CMX-1 and is presented for sale as a flexible, combined mixed-use setup. The public remarks also note convenient access to public transportation, major roadways, and nearby shopping, dining, and neighborhood amenities.
In the attached building, a neighborhood bodega occupies the first floor, with two well-sized residential units above. Each apartment is described as having two bedrooms and one bathroom.
The property is zoned CMX-1 and is presented for sale as a flexible, combined mixed-use setup. The public remarks also note convenient access to public transportation, major roadways, and nearby shopping, dining, and neighborhood amenities.
Key Highlights
- Year built 1920 former temple/prayer center with office and warehouse space
- CMX‑1 zoned mixed‑use property at 1724‑34 S 7th Street
- Attached three‑story building includes a neighborhood bodega on the first floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,895
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,900
$1.9M
Cap Rate 7%
$1,341,357
$1.3M
Cap Rate 9%
$1,043,278
$1.0M
Market Conditions
NOI Build-Up for 6,480 SF
Gross rent
$136.1K $21.00/SF
− Vacancy
−$10.9K −$1.68/SF
EGI
$125.2K $19.32/SF
− OpEx
−$31.3K −$4.83/SF
NOI
$93.9K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,900
Cap Rate 7%
$1,341,357
Cap Rate 9%
$1,043,278
Alternative Uses
Best Use
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,895 @ 7.0% cap · market cap 6.30%
Second Best
Mixed Use
$1.10M
$962.3K – $1.28M
NOI $76,982 @ 7.0% cap · market cap 5.17%
Theoretical Best
Multifamily LT 5
$1.58M
$1.38M – $1.84M
NOI $110,581 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,844
Businesses Nearby
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Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Former temple/prayer center with office and warehouse space plus an attached three-story building with rental income.
Where is this mixed-use property located?
The property is located at 1724 S 7TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Year built 1920 former temple/prayer center with office and warehouse space; CMX‑1 zoned mixed‑use property at 1724‑34 S 7th Street; Attached three‑story building includes a neighborhood bodega on the first floor
