Mixed-Use Building with
For Sale
$600,000
2116 S BROAD STREET, Philadelphia, PA 19145
Mixed-use property with two commercial storefronts and four residential apartments, including central air and in-unit laundry.
Property Size2,834 SF
Days on Market57
Property Features for 2116 S BROAD STREET
General Information
Standard status
Active
Size
2,834 SF
Property subtype
MixedUse
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,122
Building Details
Building Size
2,834 SF
Year Built
1920
Buildings
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Antonella Dominijanni · License #RS309861
(215) 500-8000
Source:
Patmckennarealtors
Added: Jul 8
Changed: Aug 31
Last Checked: Sep 1 at 10:41PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
2116 and 2118 S Broad St are being sold together as a mixed-use investment, with separate tax IDs. The property includes two commercial storefronts and four residential apartments, creating multiple rental streams. Residential units are equipped with central air conditioning and in-unit laundry.
The building also features a large basement that can provide storage for owners or commercial tenants. Separate utilities/meters are listed for each unit, which can help simplify property management and expense allocation.
Convenient transit access is a notable feature, with the Broad Street Line subway located just steps from the property. The location is also described as providing quick access to major highways and Center City, along with nearby dining, shops, and nightlife in Passyunk Square.
The building also features a large basement that can provide storage for owners or commercial tenants. Separate utilities/meters are listed for each unit, which can help simplify property management and expense allocation.
Convenient transit access is a notable feature, with the Broad Street Line subway located just steps from the property. The location is also described as providing quick access to major highways and Center City, along with nearby dining, shops, and nightlife in Passyunk Square.
Key Highlights
- Sold together: 2116 and 2118 S Broad St, separate tax IDs
- Two commercial storefronts on‑site
- Four residential apartments with central air and in‑unit laundry
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
$48,362
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
8.06%
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%
$967,240
$967.2K
Cap Rate 7%
$690,886
$690.9K
Cap Rate 9%
$537,356
$537.4K
Market Conditions
NOI Build-Up for 2,834 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
$73.1K $25.80/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$69.1K $24.38/SF
− OpEx
−$20.7K −$7.31/SF
NOI
$48.4K $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%
$967,240
Cap Rate 7%
$690,886
Cap Rate 9%
$537,356
Alternative Uses
Best Use
Multifamily LT 5
$690.9K
$604.5K – $806.0K
NOI $48,362 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$636.8K
$557.2K – $743.0K
NOI $44,577 @ 7.0% cap · market cap 7.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,973
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with two commercial storefronts and four residential apartments, including central air and in-unit laundry.
Where is this mixed-use property located?
The property is located at 2116 S BROAD STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Sold together: 2116 and 2118 S Broad St, separate tax IDs; Two commercial storefronts on‑site; Four residential apartments with central air and in‑unit laundry
