Mixed-Use Property with
New
For Sale
$290,000
1811 E SOMERSET STREET, Philadelphia, PA 19134
Two-level building combines commercial space with a five-room residential apartment and separate access features.
Property Size1,120 SF
Price / SF$258.93
Days on Market3
Property Features for 1811 E SOMERSET STREET
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Commercial
Units
Unit Mix
1 x 5-room/1BA
Multifamily Units
1
Building Details
Year Built
1912
Stories
2
Listing Agency:
Giraldo Real Estate Group
(215) 745-0101
Listed By:
Yelisa H Garces · License #RS371137
(267) 265-4315
Source:
Cummingsrealtors
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 18 at 3:19PM
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 Giraldo Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use property at 1811 E Somerset Street combines ground-floor commercial space with an upper-level residential apartment. The lower level was previously used as a beauty salon and includes a restroom, two exits, and ramp access at one exit. Upstairs, the apartment contains five rooms and one bathroom.
Built in 1912, the property offers a residential and commercial configuration within the same building. The address is in Philadelphia, Pennsylvania 19134, with the commercial and apartment components arranged across two floors.
Built in 1912, the property offers a residential and commercial configuration within the same building. The address is in Philadelphia, Pennsylvania 19134, with the commercial and apartment components arranged across two floors.
Key Highlights
- Ground‑floor commercial space previously used as a beauty salon
- Five‑room, one‑bathroom apartment on the second floor
- Two exits from the lower level, including one with ramp access
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
$13,306
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
4.59%
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%
$266,120
$266.1K
Cap Rate 7%
$190,086
$190.1K
Cap Rate 9%
$147,844
$147.8K
Market Conditions
NOI Build-Up for 1,120 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
$24.2K $21.60/SF
− Vacancy
−$2.9K −$2.59/SF
EGI
$21.3K $19.01/SF
− OpEx
−$8.0K −$7.13/SF
NOI
$13.3K $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$266,120
Cap Rate 7%
$190,086
Cap Rate 9%
$147,844
Alternative Uses
Best Use
Mixed Use
$190.1K
$166.3K – $221.8K
NOI $13,306 @ 7.0% cap · market cap 4.59%
Second Best
Retail
$180.8K
$158.2K – $211.0K
NOI $12,658 @ 7.0% cap · market cap 4.36%
Theoretical Best
Multifamily LT 5
$273.0K
$238.9K – $318.6K
NOI $19,113 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,486
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Groceries 29%
Dining 5%
Electronics 2%
Sunoco
Shops & Services
13,336 visits/mo
0.4 miles
Save-A-Lot
Groceries
7,621 visits/mo
0.5 miles
Us Gas
Shops & Services
2,251 visits/mo
0.4 miles
U-Haul Moving & Storage Of North Philadelphia
Shops & Services
1,540 visits/mo
0.3 miles
China Star
Dining
1,192 visits/mo
0.4 miles
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level building combines commercial space with a five-room residential apartment and separate access features.
Where is this mixed-use property located?
The property is located at 1811 E SOMERSET STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Ground‑floor commercial space previously used as a beauty salon; Five‑room, one‑bathroom apartment on the second floor; Two exits from the lower level, including one with ramp access
