Mixed-Use Property with
For Sale
$695,000
2143 North Front Street, Philadelphia, PA 19122
Mixed-use building combining commercial frontage, three studio apartments, storage, and a garage in Philadelphia.
Property Size2,240 SF
Price / SF$310.27
Days on Market465
Property Features for 2143 North Front Street
General Information
Standard status
Active
Size
2,240 SF
Total Parking Spaces
1
Property subtype
Multi-Family / Fee Simple
Zoning
CMX25
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
3 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,813
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1875
Listing Agency:
RE/MAX Metropolitan Inc
Listed By:
Francisco Neto · License #RS181696L
(215) 913-2490
Source:
Compass
Added: May 29, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:55PM
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 RE/MAX Metropolitan Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes a storefront component and three studio apartments within a 2,240-square-foot building constructed in 1875. The commercial portion offers three large rooms, a bathroom, finished basement storage, and a one-car garage. Each studio includes a main living area, full kitchen, and bathroom, creating a clearly defined combination of commercial and residential space.
Access to all units is available from 2006 Susquehanna Avenue. The property is located at 2143 North Front Street in Philadelphia’s 19122 area, with access to I-95 and proximity to Center City Philadelphia. The property is zoned CMX25 and is held under one deed.
Access to all units is available from 2006 Susquehanna Avenue. The property is located at 2143 North Front Street in Philadelphia’s 19122 area, with access to I-95 and proximity to Center City Philadelphia. The property is zoned CMX25 and is held under one deed.
Key Highlights
- 2,240‑square‑foot mixed‑use property built in 1875
- Large storefront with three rooms, bathroom, finished basement, and one‑car garage
- Three studio apartments, each with a full kitchen and bathroom
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
$35,234
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
5.07%
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%
$704,680
$704.7K
Cap Rate 7%
$503,343
$503.3K
Cap Rate 9%
$391,489
$391.5K
Market Conditions
NOI Build-Up for 2,240 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
$68.0K $30.36/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$64.1K $28.60/SF
− OpEx
−$28.8K −$12.87/SF
NOI
$35.2K $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%
$704,680
Cap Rate 7%
$503,343
Cap Rate 9%
$391,489
Alternative Uses
Best Use
Apartment 5plus
$503.3K
$440.4K – $587.2K
NOI $35,234 @ 7.0% cap · market cap 5.07%
Second Best
Mixed Use
$380.2K
$332.6K – $443.5K
NOI $26,611 @ 7.0% cap · market cap 3.83%
Theoretical Best
Multifamily LT 5
$546.1K
$477.8K – $637.1K
NOI $38,225 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,911
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building combining commercial frontage, three studio apartments, storage, and a garage in Philadelphia.
Where is this mixed-use property located?
The property is located at 2143 North Front Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 2,240‑square‑foot mixed‑use property built in 1875; Large storefront with three rooms, bathroom, finished basement, and one‑car garage; Three studio apartments, each with a full kitchen and bathroom
