Mixed-Use Building with Street
For Sale
$750,000
1909 S BROAD STREET, Philadelphia, PA 19148
Three residential units sit above a leased street-level commercial space along a highly visible South Philadelphia corridor.
Property Size3,311 SF
Days on Market161
Property Features for 1909 S BROAD STREET
General Information
Standard status
Active
Size
3,311 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,363
Building Details
Building Size
3,311 SF
Year Built
1925
Listing Agency:
SDG Management, LLC
(908) 217-3922
Listed By:
Jason Kleinman · License #RS362457
(908) 217-3922
Source:
Patmckennarealtors
Added: Mar 25
Changed: Aug 26
Last Checked: Aug 30 at 11:31PM
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 SDG Management, LLC
Investment Insights
Based on property information with market context.
1909 S Broad St is a mixed-use property featuring three residential units above a street-level commercial space. The commercial tenant is leased through February 2031 and the unit is currently undergoing renovations as the tenant completes their buildout ahead of a new five-year lease.
The property is situated along the South Broad Street corridor and is described as highly visible and transit-oriented, with convenient access to Center City and other employment hubs. It is located two blocks from the Broad Street Line, and the surrounding area is anchored by established dining destinations including Barcelona Wine Bar, Hardena, Stogie Joe’s, and Le Virtù.
The asset is positioned to generate $65,760 in annual rental income, combining long-term residential demand with an in-place retail tenant.
The property is situated along the South Broad Street corridor and is described as highly visible and transit-oriented, with convenient access to Center City and other employment hubs. It is located two blocks from the Broad Street Line, and the surrounding area is anchored by established dining destinations including Barcelona Wine Bar, Hardena, Stogie Joe’s, and Le Virtù.
The asset is positioned to generate $65,760 in annual rental income, combining long-term residential demand with an in-place retail tenant.
Key Highlights
- Mixed‑use building with three residential units above a street‑level commercial space along South Broad Street.
- Commercial unit is leased through February 2031.
- Annual rental income of $65,760.
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
$56,502
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
7.53%
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%
$1,130,040
$1.1M
Cap Rate 7%
$807,171
$807.2K
Cap Rate 9%
$627,800
$627.8K
Market Conditions
NOI Build-Up for 3,311 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
$85.4K $25.80/SF
− Vacancy
−$4.7K −$1.42/SF
EGI
$80.7K $24.38/SF
− OpEx
−$24.2K −$7.31/SF
NOI
$56.5K $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 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%
$1,130,040
Cap Rate 7%
$807,171
Cap Rate 9%
$627,800
Alternative Uses
Best Use
Multifamily LT 5
$807.2K
$706.3K – $941.7K
NOI $56,502 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$744.0K
$651.0K – $868.0K
NOI $52,080 @ 7.0% cap · market cap 6.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,060
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units sit above a leased street-level commercial space along a highly visible South Philadelphia corridor.
Where is this triplex located?
The property is located at 1909 S BROAD STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mixed‑use building with three residential units above a street‑level commercial space along South Broad Street.; Commercial unit is leased through February 2031.; Annual rental income of $65,760.
