Historic Brick Mixed-Use
226 N 2ND STREET, Philadelphia, PA 19106
For Sale
$6,750,000
Flexible CMX-3 zoning and open floor plates support a range of commercial configurations.
Property Size28,470 SF
Price / SF$237.09
Days on Market209
Property Features for 226 N 2ND STREET
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Asking Price
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Construction
Tenancy
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Michael D Phillips · License PA RS327662
(267) 713-9616
Source:
Desantis-realestate
Added: Apr 16
Changed: Nov 7
Last Checked: Nov 10 at 1:17PM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
Built in 1920, this 28,470-SF historic brick property combines exposed masonry, tall ceilings and large windows. Its open floor plates have no interior load-bearing walls, allowing the space to be configured for retail, showroom, production, office or hybrid uses. More than 20,000 SF, representing over 60% of the building, is expected to be available for immediate use at closing. The property also includes a double-height event venue, a photo studio and a basement with 13-foot ceilings.
The building is located in Old City, Philadelphia, and carries CMX-3 zoning. A restored 200-foot smokestack is a prominent feature of the property. Remaining suites have short-term, flexible leases, with a stated path to full building control in approximately 24 months.
The building is located in Old City, Philadelphia, and carries CMX-3 zoning. A restored 200-foot smokestack is a prominent feature of the property. Remaining suites have short-term, flexible leases, with a stated path to full building control in approximately 24 months.
Key Highlights
- 28,470‑SF historic brick building, constructed in 1920
- More than 20,000 SF, or over 60% of the building, available for immediate use at closing
- Open floor plates without interior load‑bearing walls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$374,652
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,493,040
$7.5M
Cap Rate 7%
$5,352,171
$5.4M
Cap Rate 9%
$4,162,800
$4.2M
Market Conditions
NOI Build-Up for 28,470 SF
Gross rent
$625.2K $21.96/SF
− Vacancy
−$125.7K −$4.41/SF
EGI
$499.5K $17.55/SF
− OpEx
−$124.9K −$4.39/SF
NOI
$374.7K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,493,040
Cap Rate 7%
$5,352,171
Cap Rate 9%
$4,162,800
Alternative Uses
Best Use
Office B
$5.35M
$4.68M – $6.24M
NOI $374,652 @ 7.0% cap · market cap 5.55%
Second Best
Mixed Use
$4.83M
$4.23M – $5.64M
NOI $338,224 @ 7.0% cap · market cap 5.01%
Theoretical Best
Multifamily LT 5
$6.94M
$6.07M – $8.10M
NOI $485,838 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
13,449
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Philadelphia, PA
Properties on Market for Mixed-use properties in Philadelphia
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible CMX-3 zoning and open floor plates support a range of commercial configurations.
Where is this mixed-use property located?
The property is located at 226 N 2ND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: 28,470‑SF historic brick building, constructed in 1920; More than 20,000 SF, or over 60% of the building, available for immediate use at closing; Open floor plates without interior load‑bearing walls
