Renovated Mixed-Use
New
For Sale
$479,900
2315 S 12th St, Philadelphia, PA 19148
Two updated apartments accompany a vacant storefront with flexible retail or business-use potential.
Property Size1,888 SF
Price / SF$254.18
Days on Market6
Property Features for 2315 S 12th St
General Information
Standard status
Active
Size
1,888 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Target Realty
(215) 218-0939
Listed By:
Shengfei Lin · License #RS330620
Source:
Upgradebymichaud
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 8:00PM
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 Target Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines a street-level commercial storefront with two residential apartments. The front commercial area is vacant and offers flexibility for retail or business use, while the rear portion of the first floor contains a one-bedroom apartment. A renovated two-bedroom apartment occupies the second floor and includes an outdoor patio.
Both residential units have been completely renovated. Separate electric meters are provided for each unit, supporting distinct utility accounting across the property. Constructed in 1925, the building offers a combination of commercial and residential space within one property.
Both residential units have been completely renovated. Separate electric meters are provided for each unit, supporting distinct utility accounting across the property. Constructed in 1925, the building offers a combination of commercial and residential space within one property.
Key Highlights
- Two residential apartments plus one storefront
- Vacant first‑floor commercial space suited to retail or business use
- First‑floor rear apartment with 1 bedroom
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
$32,219
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
6.71%
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%
$644,380
$644.4K
Cap Rate 7%
$460,271
$460.3K
Cap Rate 9%
$357,989
$358.0K
Market Conditions
NOI Build-Up for 1,888 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
$48.7K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$46.0K $24.38/SF
− OpEx
−$13.8K −$7.31/SF
NOI
$32.2K $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%
$644,380
Cap Rate 7%
$460,271
Cap Rate 9%
$357,989
Alternative Uses
Best Use
Multifamily LT 5
$460.3K
$402.7K – $537.0K
NOI $32,219 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$424.2K
$371.2K – $495.0K
NOI $29,697 @ 7.0% cap · market cap 6.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,688
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 updated apartments accompany a vacant storefront with flexible retail or business-use potential.
Where is this mixed-use property located?
The property is located at 2315 S 12th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Two residential apartments plus one storefront; Vacant first‑floor commercial space suited to retail or business use; First‑floor rear apartment with 1 bedroom
