Mixed-Use Building with
2002 SOUTH STREET Philadelphia, PA 19146
For Sale
$700,000
Multi-unit building with a street-level storefront, separate units, and an unfinished basement with a working half bath.
Property Size4,506 SF
Price / SF$155.35
Days on Market20
Property Features for 2002 SOUTH STREET
General Information
Standard status
Active
Size
4,506 SF
Property subtype
Commercial
Building Details
Year Built
1915
Listing Agency:
Madison Real Estate Inc. DBA MRE Residential Inc.
(302) 275-7575
Listed By:
Traci Madison · License #RM424596
(302) 275-7575
Source:
Cummingsrealtors
Added: Jul 10
Changed: Jul 26
Last Checked: Jul 29 at 5:03AM
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 Madison Real Estate Inc. DBA MRE Residential Inc.
Investment Insights
Based on property information with market context.
This mixed-use building includes a street-level storefront plus four additional separate units, and each unit features 1 full bath. The property’s layout includes Unit 1 as the storefront on the first floor, with Unit 2 located behind it. Units 4 and 3 are on the second floor (front and rear, respectively), and Units 6 and 5 are on the third floor (front and rear, respectively). There is also a spacious unfinished basement area, over 1,000 square feet, with a working half bath.
The building is described as having brick exterior, tall ceilings, arches, and curved wooden staircases, though it needs care and renovation.
The front units on the second and third levels are described as the most spacious. The second-floor front unit is also noted as having potential for additional bathroom installation.
The building is described as having brick exterior, tall ceilings, arches, and curved wooden staircases, though it needs care and renovation.
The front units on the second and third levels are described as the most spacious. The second-floor front unit is also noted as having potential for additional bathroom installation.
Key Highlights
- 1915‑built multi‑unit building with a street‑level storefront plus 4 additional separate units
- All units include 1 full bath; 2nd floor front unit has space where a bathroom can be added
- Unit layout includes storefront (Unit 1), Units 2–4 on the 1st and 2nd floors, and Units 5–6 on the 3rd floor
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.0k | $21.96 |
| − Vacancy | −$19.9k | −$4.41 |
| EGI | $79.1k | $17.55 |
| − OpEx | −$19.8k | −$4.39 |
| NOI | $59.3k | $13.16 |
4,506 SF · lease $21.96/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$847.1K
$741.2K – $988.3K
NOI $59,297 @ 7.0% cap · market cap 8.47%
Second Best
Retail
$727.5K
$636.6K – $848.8K
NOI $50,928 @ 7.0% cap · market cap 7.28%
Theoretical Best
Multifamily LT 5
$1.10M
$961.2K – $1.28M
NOI $76,894 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-unit building with a street-level storefront, separate units, and an unfinished basement with a working half bath.
Where is this storefront property located?
The property is located at 2002 SOUTH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1915‑built multi‑unit building with a street‑level storefront plus 4 additional separate units; All units include 1 full bath; 2nd floor front unit has space where a bathroom can be added; Unit layout includes storefront (Unit 1), Units 2–4 on the 1st and 2nd floors, and Units 5–6 on the 3rd floor
