Double-Wide Mixed-Use Office and
For Sale
$1,400,000
1816 1816-18 E Passyunk Ave, Philadelphia, PA 19148
Street-to-street mixed-use building with a first-floor office delivered vacant and two leased bi-level 3-bedroom apartments.
Property Size4,476 SF
Price / SF$312.78
Days on Market93
Property Features for 1816 1816-18 E Passyunk Ave
General Information
Standard status
Active
Size
4,476 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1915
Stories
3
Tenancy
Multi
Listing Agency:
Century 21 Forrester Real Estate
Listed By:
Michael A Giangiordano II · License #RS338459
(215) 334-3333
Source:
Upgradebymichaud
Added: Jul 21
Changed: Oct 13
Last Checked: Oct 20 at 10:35PM
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 Century 21 Forrester Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This double-wide, street-to-street mixed-use building is legally two separate parcels (1816 and 1818 E Passyunk Avenue) but operates as one continuous property. The configuration includes a main entrance on E Passyunk Avenue into the commercial space, with two separate apartment entrances on the S 13th St side for 1811 and 1813 S 13th St.
The first floor is currently set up as an office and will be delivered vacant upon closing. The apartments are occupied and under lease, and both are bi-level 3-bedroom units spanning the 2nd and 3rd floors. The units are reported to be in good condition.
Separate utilities are provided for the units, with the exception of cold water/sewer.
The first floor is currently set up as an office and will be delivered vacant upon closing. The apartments are occupied and under lease, and both are bi-level 3-bedroom units spanning the 2nd and 3rd floors. The units are reported to be in good condition.
Separate utilities are provided for the units, with the exception of cold water/sewer.
Key Highlights
- 1915 street‑to‑street mixed‑use building on E Passyunk Ave and S 13th St
- Double‑wide building includes a first‑floor commercial space with main entrance on E Passyunk Ave, delivered vacant at closing
- Two bi‑level 3‑bedroom apartments on 2nd and 3rd floors, currently occupied and under lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,382
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,527,640
$1.5M
Cap Rate 7%
$1,091,171
$1.1M
Cap Rate 9%
$848,689
$848.7K
Market Conditions
NOI Build-Up for 4,476 SF
Gross rent
$115.5K $25.80/SF
− Vacancy
−$6.4K −$1.42/SF
EGI
$109.1K $24.38/SF
− OpEx
−$32.7K −$7.31/SF
NOI
$76.4K $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%
$1,527,640
Cap Rate 7%
$1,091,171
Cap Rate 9%
$848,689
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$954.8K – $1.27M
NOI $76,382 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$1.01M
$880.1K – $1.17M
NOI $70,405 @ 7.0% cap · market cap 5.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,026
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Duplex - Street-to-street mixed-use building with a first-floor office delivered vacant and two leased bi-level 3-bedroom apartments.
Where is this duplex located?
The property is located at 1816 1816-18 E Passyunk Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 1915 street‑to‑street mixed‑use building on E Passyunk Ave and S 13th St; Double‑wide building includes a first‑floor commercial space with main entrance on E Passyunk Ave, delivered vacant at closing; Two bi‑level 3‑bedroom apartments on 2nd and 3rd floors, currently occupied and under lease
