Renovated Three-Story Mixed-Use
For Sale
$754,900
2006 N Front St, Philadelphia, PA 19122
CMX-2.5-zoned building with two residential units, each offering in-unit laundry.
Property Size2,968 SF
Price / SF$254.35
Days on Market39
Property Features for 2006 N Front St
General Information
Standard status
Active
Size
2,968 SF
Zoning
CMX-2.5
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
1875
Buildings
1
Stories
3
Listing Agency:
KW Empower
Listed By:
Pearce J Vazquez · License #RS333250
(215) 546-2700
Source:
Soldbypattie
Added: Jul 28
Changed: Aug 31
Last Checked: Sep 1 at 10:16PM
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 KW Empower
Investment Insights
Based on property information with market context.
Renovated three-story mixed-use property at 2006 N Front St with 2,968 square feet and a 1875 construction date. The building contains three units, two of which are currently occupied. Its two residential units each include two bedrooms, one bathroom, and in-unit laundry. The property is zoned CMX-2.5.
The site is positioned between Norris Square and Fishtown, near Sweet 45, Fleurs, and other local businesses. Public transit, major highways, bridges, dog parks, Northern Liberties, and Fishtown are also identified as accessible from the property.
The site is positioned between Norris Square and Fishtown, near Sweet 45, Fleurs, and other local businesses. Public transit, major highways, bridges, dog parks, Northern Liberties, and Fishtown are also identified as accessible from the property.
Key Highlights
- 2,968 SF, three‑story mixed‑use building
- CMX‑2.5 zoning
- Three total units with two currently occupied
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
$46,685
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
6.18%
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%
$933,700
$933.7K
Cap Rate 7%
$666,929
$666.9K
Cap Rate 9%
$518,722
$518.7K
Market Conditions
NOI Build-Up for 2,968 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
$90.1K $30.36/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$84.9K $28.60/SF
− OpEx
−$38.2K −$12.87/SF
NOI
$46.7K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$933,700
Cap Rate 7%
$666,929
Cap Rate 9%
$518,722
Alternative Uses
Best Use
Apartment 5plus
$666.9K
$583.6K – $778.1K
NOI $46,685 @ 7.0% cap · market cap 6.18%
Second Best
Mixed Use
$503.7K
$440.8K – $587.7K
NOI $35,260 @ 7.0% cap · market cap 4.67%
Theoretical Best
Multifamily LT 5
$723.6K
$633.1K – $844.2K
NOI $50,649 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,944
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - CMX-2.5-zoned building with two residential units, each offering in-unit laundry.
Where is this mixed-use property located?
The property is located at 2006 N Front St Philadelphia, PA.
What is the asking price?
The asking price for this property is $754,900.
What are key features of this property?
This property features: 2,968 SF, three‑story mixed‑use building; CMX‑2.5 zoning; Three total units with two currently occupied
