Mixed-Use Property with
New
For Sale
$295,000
2215 S 8TH STREET, Philadelphia, PA 19148
A leased street-level storefront is paired with a vacant two-bedroom residence above.
Property Size1,500 SF
Lot Size0.02 Acres
Price / SF$196.67
Days on Market6
Property Features for 2215 S 8TH STREET
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.02 Acres
Property subtype
MixedUse
Zoning
RSA5
Financials
Asking Price
$295,000
Gross Income
$13,200
Taxes and HOA fees
Annual Taxes
$3,317
Building Details
Building Size
1,500 SF
Year Built
1925
Buildings
1
Construction
masonry
Listing Agency:
BY Real Estate
Listed By:
jinwei zheng · License #Ab069171
(267) 231-8649
Source:
Patmckennarealtors
Added: Sep 27
Changed: Sep 29
Last Checked: Oct 1 at 7:20PM
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 BY Real Estate
Investment Insights
Based on property information with market context.
At 2215 S 8th Street, this 1925 masonry mixed-use building combines a street-level retail storefront with an upstairs apartment. The residential unit has two bedrooms and one bathroom and is currently vacant; the storefront is leased through 2029.
The property contains approximately 1,500 square feet on a 765-square-foot lot and is zoned RSA5. Its separate commercial and residential components provide distinct spaces within one building.
The property contains approximately 1,500 square feet on a 765-square-foot lot and is zoned RSA5. Its separate commercial and residential components provide distinct spaces within one building.
Key Highlights
- Street‑level retail storefront leased through 2029
- Upstairs apartment with 2 bedrooms and 1 bathroom; currently vacant
- Approximately 1,500 square feet of building area
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
$17,820
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
6.04%
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%
$356,400
$356.4K
Cap Rate 7%
$254,571
$254.6K
Cap Rate 9%
$198,000
$198.0K
Market Conditions
NOI Build-Up for 1,500 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
$32.4K $21.60/SF
− Vacancy
−$3.9K −$2.59/SF
EGI
$28.5K $19.01/SF
− OpEx
−$10.7K −$7.13/SF
NOI
$17.8K $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$356,400
Cap Rate 7%
$254,571
Cap Rate 9%
$198,000
Alternative Uses
Best Use
Mixed Use
$254.6K
$222.8K – $297.0K
NOI $17,820 @ 7.0% cap · market cap 6.04%
Second Best
Retail
$242.2K
$211.9K – $282.6K
NOI $16,953 @ 7.0% cap · market cap 5.75%
Theoretical Best
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,450
Businesses Nearby
38k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 97%
Electronics 3%
Lukoil
Shops & Services
12,912 visits/mo
0.3 miles
TD Bank
Shops & Services
11,937 visits/mo
0.5 miles
7-Eleven
Shops & Services
7,109 visits/mo
0.2 miles
Santander Bank
Shops & Services
4,695 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
1,035 visits/mo
0.1 miles
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A leased street-level storefront is paired with a vacant two-bedroom residence above.
Where is this mixed-use property located?
The property is located at 2215 S 8TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Street‑level retail storefront leased through 2029; Upstairs apartment with 2 bedrooms and 1 bathroom; currently vacant; Approximately 1,500 square feet of building area
