Two-Building Mixed-Use Income
For Sale
$788,000
2223 2223-5 S 7th, Philadelphia, PA 19148
Two mixed-use buildings each offer first-floor restaurant space alongside two residential apartments per building.
Property Size4,800 SF
Price / SF$164.17
Days on Market48
Property Features for 2223 2223-5 S 7th
General Information
Standard status
Active
Size
4,800 SF
Additional Details
Multifamily Units
4
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Liberty Real Estate
Listed By:
Richard Q Li · License #RM421130
(267) 767-7612
Source:
Kandorre
Added: Jul 24
Changed: Sep 5
Last Checked: Sep 8 at 11:53AM
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.
This offering consists of two mixed-use buildings, each configured with restaurant space on the first floor and two residential apartments. The current layout provides income from both the food service component and the residential units within the same building footprint.
The property is located at 2223 2223-5 S 7th in Philadelphia, Pennsylvania (19148). Prospective buyers can view the buildings in person to confirm unit and restaurant configurations and assess the tenant and operating setup on site.
The property is located at 2223 2223-5 S 7th in Philadelphia, Pennsylvania (19148). Prospective buyers can view the buildings in person to confirm unit and restaurant configurations and assess the tenant and operating setup on site.
Key Highlights
- Two mixed‑use buildings, each with first‑floor restaurant space plus two residential apartments
- Year built: 1910
- Each building has a total of 2 residential apartments
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
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,207
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two mixed-use buildings each offer first-floor restaurant space alongside two residential apartments per building.
Where is this mixed-use property located?
The property is located at 2223 2223-5 S 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 mixed‑use buildings, each with first‑floor restaurant space plus two residential apartments; Year built: 1910; Each building has a total of 2 residential apartments
