Modern Mixed-Use
For Sale
$800,000
2123 Dickinson St, Philadelphia, PA 19146
Three bi-level units combine residential apartments with a dedicated commercial space and private restroom.
Property Size3,009 SF
Price / SF$265.87
Days on Market13
Property Features for 2123 Dickinson St
General Information
Standard status
Active
Size
3,009 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
roof decks
in-unit washer/dryer
Building Details
Year Built
2021
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(484) 554-9188
Listed By:
Harkeet S Chadha · License #AB069009
Source:
Upgradebymichaud
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 29 at 10:50AM
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.
Built in 2021, this 3,009-square-foot mixed-use property contains three bi-level units: two residential apartments and one commercial suite. The commercial component measures approximately 1,100 square feet and includes a private restroom plus one oversized parking space. Each apartment offers 3 bedrooms, 2 full bathrooms, a roof deck, full-size in-unit laundry, and a kitchen equipped with stainless steel appliances and substantial cabinet storage.
Separate utilities serve each unit, while adjustable blinds, combination deadbolt entry systems, extensive outlet placement, and energy-efficient systems add practical functionality. The property is located at 2123 Dickinson St in Philadelphia’s Point Breeze neighborhood, near Center City, restaurants, coffee shops, retail, and major transportation routes. The source information also notes ongoing occupancy, recurring lease renewals, and the majority of the tax abatement remaining.
Separate utilities serve each unit, while adjustable blinds, combination deadbolt entry systems, extensive outlet placement, and energy-efficient systems add practical functionality. The property is located at 2123 Dickinson St in Philadelphia’s Point Breeze neighborhood, near Center City, restaurants, coffee shops, retail, and major transportation routes. The source information also notes ongoing occupancy, recurring lease renewals, and the majority of the tax abatement remaining.
Key Highlights
- 3,009 SF mixed‑use property built in 2021
- Three bi‑level units: two apartments and one commercial space
- Approximately 1,100 SF commercial unit with private restroom
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
$51,348
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
6.42%
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%
$1,026,960
$1.0M
Cap Rate 7%
$733,543
$733.5K
Cap Rate 9%
$570,533
$570.5K
Market Conditions
NOI Build-Up for 3,009 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
$77.6K $25.80/SF
− Vacancy
−$4.3K −$1.42/SF
EGI
$73.4K $24.38/SF
− OpEx
−$22.0K −$7.31/SF
NOI
$51.3K $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%
$1,026,960
Cap Rate 7%
$733,543
Cap Rate 9%
$570,533
Alternative Uses
Best Use
Multifamily LT 5
$733.5K
$641.9K – $855.8K
NOI $51,348 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$676.1K
$591.6K – $788.8K
NOI $47,330 @ 7.0% cap · market cap 5.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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 - Three bi-level units combine residential apartments with a dedicated commercial space and private restroom.
Where is this mixed-use property located?
The property is located at 2123 Dickinson St Philadelphia, PA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 3,009 SF mixed‑use property built in 2021; Three bi‑level units: two apartments and one commercial space; Approximately 1,100 SF commercial unit with private restroom
