Corner Mixed-Use
New
For Sale
$500,000
1800 S 15TH STREET, Philadelphia, PA 19145
CMX-2 zoning and private parking accompany residential space on the first floor and an apartment on the upper levels.
Property Size2,500 SF
Days on Market4
Property Features for 1800 S 15TH STREET
General Information
Standard status
Active
Size
2,500 SF
Property subtype
MixedUse
Zoning
CMX-2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,033
Amenities
private parking
Building Details
Building Size
2,500 SF
Year Built
1920
Stories
3
Listing Agency:
Keller Williams Real Estate - Media
Listed By:
Pia Arellano · License #367858
(917) 966-0221
Source:
Patmckennarealtors
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 8:00AM
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 Keller Williams Real Estate - Media
Investment Insights
Based on property information with market context.
At 1800 S 15th Street, this mixed-use property has residential space on the first floor and an apartment spanning the second and third floors. The building dates to 1920 and includes private parking. Its zoning is CMX-2.
The property occupies a corner along 15th Street, near Broad Street, public transportation, neighborhood businesses, restaurants, and East Passyunk Avenue.
The property occupies a corner along 15th Street, near Broad Street, public transportation, neighborhood businesses, restaurants, and East Passyunk Avenue.
Key Highlights
- CMX‑2 zoning
- Residential space on the first floor and an apartment on the second and third floors
- Private parking
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
$39,324
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
7.86%
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%
$786,480
$786.5K
Cap Rate 7%
$561,771
$561.8K
Cap Rate 9%
$436,933
$436.9K
Market Conditions
NOI Build-Up for 2,500 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
$75.9K $30.36/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$71.5K $28.60/SF
− OpEx
−$32.2K −$12.87/SF
NOI
$39.3K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$786,480
Cap Rate 7%
$561,771
Cap Rate 9%
$436,933
Alternative Uses
Best Use
Apartment 5plus
$561.8K
$491.6K – $655.4K
NOI $39,324 @ 7.0% cap · market cap 7.86%
Second Best
Mixed Use
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 5.94%
Theoretical Best
Multifamily LT 5
$609.5K
$533.3K – $711.0K
NOI $42,662 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,142
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - CMX-2 zoning and private parking accompany residential space on the first floor and an apartment on the upper levels.
Where is this mixed-use property located?
The property is located at 1800 S 15TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: CMX‑2 zoning; Residential space on the first floor and an apartment on the second and third floors; Private parking
