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 Market107
Property Features for 1724 S 7TH STREET
General Information
Standard status
Active
Size
6,480 SF
Property subtype
Commercial
Zoning
CMX-1
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: May 31
Changed: Sep 13
Last Checked: Sep 13 at 10:13AM
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
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 = 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
$93,895
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
6.30%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,844
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Philadelphia, PA
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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
