Masonry Triplex with Roof
New
For Sale
$789,000
2217 W THOMPSON Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size2,857 SF
Lot Size0.03 Acres
Price / SF$276.16
Days on Market1
Property Features for 2217 W THOMPSON Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
2,857 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2309
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2022
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Christopher Mark Taylor Jr. · License #RS348553
(215) 990-2676
Added: Sep 14
Last Checked: Sep 14 at 5:06AM
MLS# PAPH2666882
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2022, this masonry end-of-row triplex contains 2,857 square feet above grade and three fully licensed units. The property includes central air, forced-air heating, and in-unit laundry. Unit 1 is a bi-level three-bedroom, 3.5-bath residence with a private rear yard and a lease extending through April 2027. Unit 2 has two bedrooms and two baths and is occupied month to month.
The third unit is delivered vacant and features two bedrooms, two full baths, a modern kitchen with quartz counters, shaker cabinetry, and stainless appliances. It also includes stacked laundry and exclusive use of a private roof deck with skyline views. The property is located at 2217 W Thompson Street in Philadelphia, near Girard College, Fairmount, the Girard Avenue corridor, and Center City. On-street parking is available, and the improvements carry a 100% tax abatement.
The third unit is delivered vacant and features two bedrooms, two full baths, a modern kitchen with quartz counters, shaker cabinetry, and stainless appliances. It also includes stacked laundry and exclusive use of a private roof deck with skyline views. The property is located at 2217 W Thompson Street in Philadelphia, near Girard College, Fairmount, the Girard Avenue corridor, and Center City. On-street parking is available, and the improvements carry a 100% tax abatement.
Key Highlights
- 2022‑built triplex with 2,857 square feet above grade
- Three fully licensed units with central air and in‑unit laundry
- Unit 1: bi‑level 3‑bedroom, 3.5‑bath residence with private rear yard
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
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,137
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three licensed units offer central air, in-unit laundry, and flexible occupancy configurations.
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 units with central air and in‑unit laundry; Unit 1: bi‑level 3‑bedroom, 3.5‑bath residence with private rear yard
