Mixed-Use Property with
For Sale
$788,000
2223-5 7th, Philadelphia, PA 19148
Two buildings each offer two apartments above a first-floor restaurant.
Property Size4,800 SF
Price / SF$164.17
Days on Market78
Property Features for 2223-5 7th
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$370
Amenities
3
Flat
R10
Parking.
On Street.
Building Details
Year Built
1910
Listing Agency:
(267) 767-7612
Listed By:
Liberty Real Estate
(267) 767-7612
Source:
Xome
Added: May 26
Changed: Aug 8
Last Checked: Aug 11 at 5:02AM
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 Liberty Real Estate
Investment Insights
Based on property information with market context.
Offered for sale are two mixed-use properties, with each building configured to include two residential apartments above a shared first-floor restaurant. The setup creates a combined use where daily operations and living space are located within the same building structure, supporting a straightforward, owner-managed layout.
The properties are located at 2223-5 S 7th in Philadelphia, Pennsylvania (19148). According to the public remarks, the current tenancy is described as very stable, with steady rental income.
This offering can appeal to buyers looking for a compact, mixed-use portfolio centered on on-site restaurant operations paired with residential units. The two-apartment-per-building configuration can be useful for operators who prefer multifamily-style occupancy while retaining an active commercial component on the first floor. Prospective buyers should review current leases and the restaurant’s operating arrangements to confirm terms, responsibilities, and any business-specific requirements before proceeding.
The properties are located at 2223-5 S 7th in Philadelphia, Pennsylvania (19148). According to the public remarks, the current tenancy is described as very stable, with steady rental income.
This offering can appeal to buyers looking for a compact, mixed-use portfolio centered on on-site restaurant operations paired with residential units. The two-apartment-per-building configuration can be useful for operators who prefer multifamily-style occupancy while retaining an active commercial component on the first floor. Prospective buyers should review current leases and the restaurant’s operating arrangements to confirm terms, responsibilities, and any business-specific requirements before proceeding.
Key Highlights
- Two‑building multifamily and restaurant setup: each building has two residential apartments over a first‑floor restaurant
- Flat roof exterior
- On‑street parking
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
$69,552
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
8.83%
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%
$1,391,040
$1.4M
Cap Rate 7%
$993,600
$993.6K
Cap Rate 9%
$772,800
$772.8K
Market Conditions
NOI Build-Up for 4,800 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
$100.8K $21.00/SF
− Vacancy
−$8.1K −$1.68/SF
EGI
$92.7K $19.32/SF
− OpEx
−$23.2K −$4.83/SF
NOI
$69.6K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,391,040
Cap Rate 7%
$993,600
Cap Rate 9%
$772,800
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.37M
NOI $81,911 @ 7.0% cap · market cap 10.39%
Second Best
Apartment 5plus
$1.08M
$943.8K – $1.26M
NOI $75,502 @ 7.0% cap · market cap 9.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,211
Businesses Nearby
Explore this area
Business Placement
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
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?
Mixed-use property - Two buildings each offer two apartments above a first-floor restaurant.
Where is this mixed-use property located?
The property is located at 2223-5 7th Philadelphia, PA.
What is the asking price?
The asking price for this property is $788,000.
What are key features of this property?
This property features: Two‑building multifamily and restaurant setup: each building has two residential apartments over a first‑floor restaurant; Flat roof exterior; On‑street parking
