Corner Retail
New
For Sale
Contact for pricing
1850 S 23RD STREET, Philadelphia, PA 19145
RM1 zoning supports a range of retail, service, and professional uses, including salon, day care, and office applications.
Property Size852 SF
Price / SF$1.88
Days on Market6
Property Features for 1850 S 23RD STREET
General Information
Standard status
Active
Size
852 SF
Property subtype
Commercial
Zoning
RM1
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Additional Details
Floor
Ground
Amenities
open floor plan
existing build-out
electric heat
hot water
window A/C unit
public water and sewer service
Building Details
Year Built
1920
Listing Agency:
Keller Williams Realty Wilmington
(302) 299-1100
Listed By:
sAAJAN Patel
(484) 799-6843
Source:
Cummingsrealtors
Added: Oct 12
Changed: Oct 16
Last Checked: Oct 16 at 8:59AM
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 Realty Wilmington
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Investment Insights
Based on property information with market context.
This 852-square-foot, ground-floor retail space has an open plan and an existing interior build-out from its former hair salon use. The property was built in 1920 and has electric heat, hot water, and a window air-conditioning unit, along with public water and sewer service.
At 1850 S 23rd Street in Philadelphia, the space occupies a corner location with street frontage and access to on-street and public parking. RM1 zoning is associated with potential uses such as day care, salon or spa, health club, general retail, and professional office.
At 1850 S 23rd Street in Philadelphia, the space occupies a corner location with street frontage and access to on-street and public parking. RM1 zoning is associated with potential uses such as day care, salon or spa, health club, general retail, and professional office.
Key Highlights
- 852 SF of ground‑floor retail space
- Open‑plan interior with an existing salon build‑out
- RM1 zoning; cited use options include day care, salon or spa, health club, general retail, and professional office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,629
Suggested Prices Based on Cap Rates
Cap Rate 5%
$192,580
$192.6K
Cap Rate 7%
$137,557
$137.6K
Cap Rate 9%
$106,989
$107.0K
Market Conditions
NOI Build-Up for 852 SF
Gross rent
$15.3K $18.00/SF
− Vacancy
−$1.6K −$1.85/SF
EGI
$13.8K $16.15/SF
− OpEx
−$4.1K −$4.84/SF
NOI
$9.6K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$192,580
Cap Rate 7%
$137,557
Cap Rate 9%
$106,989
Alternative Uses
Best Use
Retail
$137.6K
$120.4K – $160.5K
NOI $9,629 @ 7.0% cap · market cap 601.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$207.7K
$181.7K – $242.3K
NOI $14,539 @ 7.0% cap · market cap 908.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 63%
Shops & Services 28%
Electronics 5%
Dining 5%
Grocery Outlet Bargain Market
Groceries
8,579 visits/mo
0.5 miles
Fine Wine & Good Spirits
Groceries
5,018 visits/mo
0.2 miles
U-Haul Moving & Storage of Strawberry Mansion
Shops & Services
2,225 visits/mo
0.4 miles
Dollar General
Shops & Services
2,210 visits/mo
0.4 miles
Ace Cash Express
Shops & Services
1,631 visits/mo
0.2 miles
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
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
Frequently Asked Questions
What type of property is this?
Retail space - RM1 zoning supports a range of retail, service, and professional uses, including salon, day care, and office applications.
Where is this retail space located?
The property is located at 1850 S 23RD STREET Philadelphia, PA.
What are key features of this property?
This property features: 852 SF of ground‑floor retail space; Open‑plan interior with an existing salon build‑out; RM1 zoning; cited use options include day care, salon or spa, health club, general retail, and professional office
