Corner Triplex with Nail
For Sale
$539,500
2049 S 22ND STREET, Philadelphia, PA 19145
Fully occupied triplex with a renovated first-floor nail salon and two residential units, plus a full basement for storage.
Property Size1,968 SF
Price / SF$274.14
Days on Market75
Property Features for 2049 S 22ND STREET
General Information
Standard status
Active
Size
1,968 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Highway Access
Yes
Amenities
full basement
public transportation
shopping
dining
major highways
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Canaan Realty Services INC
(215) 333-1826
Listed By:
Anastasia Tran · License #RS355076
(215) 869-8280
Source:
Cummingsrealtors
Added: Jul 2
Changed: Sep 13
Last Checked: Sep 14 at 8:13AM
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 Canaan Realty Services INC
Investment Insights
Based on property information with market context.
This fully occupied corner triplex includes a renovated first-floor nail salon with a modern, open layout and two residential units above. The residential units are currently generating $2,000/month in rental income. A full basement adds practical storage and utility space.
Located at the highly visible intersection of Snyder Ave. and S. 22nd St., the property benefits from corner visibility, signage exposure, and heavy pedestrian and vehicle traffic. Access to public transportation, shopping, dining, and major highways supports day-to-day convenience.
Offered as a turnkey mixed-use setup, the asset combines an operating commercial component with two income-producing residences within one building configuration.
Located at the highly visible intersection of Snyder Ave. and S. 22nd St., the property benefits from corner visibility, signage exposure, and heavy pedestrian and vehicle traffic. Access to public transportation, shopping, dining, and major highways supports day-to-day convenience.
Offered as a turnkey mixed-use setup, the asset combines an operating commercial component with two income-producing residences within one building configuration.
Key Highlights
- Fully occupied triplex with a renovated first‑floor nail salon and two residential units
- Two residential units currently generate $2,000/month in rental income
- Commercial space features a modern, open layout
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
$33,584
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
6.23%
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%
$671,680
$671.7K
Cap Rate 7%
$479,771
$479.8K
Cap Rate 9%
$373,156
$373.2K
Market Conditions
NOI Build-Up for 1,968 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
$50.8K $25.80/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$48.0K $24.38/SF
− OpEx
−$14.4K −$7.31/SF
NOI
$33.6K $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%
$671,680
Cap Rate 7%
$479,771
Cap Rate 9%
$373,156
Alternative Uses
Best Use
Multifamily LT 5
$479.8K
$419.8K – $559.7K
NOI $33,584 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$442.2K
$387.0K – $515.9K
NOI $30,956 @ 7.0% cap · market cap 5.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,973
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied triplex with a renovated first-floor nail salon and two residential units, plus a full basement for storage.
Where is this triplex located?
The property is located at 2049 S 22ND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $539,500.
What are key features of this property?
This property features: Fully occupied triplex with a renovated first‑floor nail salon and two residential units; Two residential units currently generate $2,000/month in rental income; Commercial space features a modern, open layout
