2022-Built Triplex With Roof
New
For Sale
$789,000
2217 W THOMPSON STREET, Philadelphia, PA 19121
Legal three-unit property with central air, in-unit laundry, and a vacant residence featuring private rooftop outdoor space.
Property Size2,857 SF
Price / SF$276.16
Days on Market4
Property Features for 2217 W THOMPSON STREET
General Information
Standard status
Active
Size
2,857 SF
Property subtype
Triplex
Units
Unit Mix
1 x 3BR/3.5BA, 2 x 2BR/2BA
Multifamily Units
3
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,309
Amenities
central air
in-unit laundry
private rear yard
roof deck
Building Details
Building Size
2,857 SF
Year Built
2022
Buildings
1
Construction
masonry
Tenancy
Multi
Listing Agency:
EXP Realty, LLC
Listed By:
Christopher Mark Taylor Jr. · License #RS348553
(215) 990-2676
Source:
Patmckennarealtors
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 5 at 2:54PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2022, this masonry triplex contains 2,857 square feet above grade and three fully licensed residential units. The property includes central air and in-unit laundry throughout. Unit 1 is a bi-level three-bedroom, three-and-a-half-bath residence with a private rear yard and a lease extending through April 2027. Unit 2 offers two bedrooms and two bathrooms and is occupied month to month.
Unit 3 is delivered vacant with two bedrooms, two full bathrooms, a modern kitchen with quartz countertops, shaker cabinetry, and stainless steel appliances. The residence also includes stacked laundry and exclusive use of a large private roof deck with skyline views. The building carries a full 10-year tax abatement, with the improvement value exempt, and is located at 2217 W Thompson Street in Philadelphia’s Sharswood/Brewerytown area, near Girard College and minutes from Fairmount, the Girard Avenue corridor, and Center City.
Unit 3 is delivered vacant with two bedrooms, two full bathrooms, a modern kitchen with quartz countertops, shaker cabinetry, and stainless steel appliances. The residence also includes stacked laundry and exclusive use of a large private roof deck with skyline views. The building carries a full 10-year tax abatement, with the improvement value exempt, and is located at 2217 W Thompson Street in Philadelphia’s Sharswood/Brewerytown area, near Girard College and minutes from Fairmount, the Girard Avenue corridor, and Center City.
Key Highlights
- 2022‑built triplex with 2,857 square feet above grade
- Three fully licensed legal units with central air and in‑unit laundry
- Unit 1: bi‑level 3 bedroom, 3.5 bath residence leased through April 2027
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
$48,754
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
6.18%
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%
$975,080
$975.1K
Cap Rate 7%
$696,486
$696.5K
Cap Rate 9%
$541,711
$541.7K
Market Conditions
NOI Build-Up for 2,857 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
$73.7K $25.80/SF
− Vacancy
−$4.1K −$1.42/SF
EGI
$69.6K $24.38/SF
− OpEx
−$20.9K −$7.31/SF
NOI
$48.8K $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%
$975,080
Cap Rate 7%
$696,486
Cap Rate 9%
$541,711
Alternative Uses
Best Use
Multifamily LT 5
$696.5K
$609.4K – $812.6K
NOI $48,754 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$642.0K
$561.7K – $749.0K
NOI $44,939 @ 7.0% cap · market cap 5.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Legal three-unit property with central air, in-unit laundry, and a vacant residence featuring private rooftop outdoor space.
Where is this triplex located?
The property is located at 2217 W THOMPSON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: 2022‑built triplex with 2,857 square feet above grade; Three fully licensed legal units with central air and in‑unit laundry; Unit 1: bi‑level 3 bedroom, 3.5 bath residence leased through April 2027
