Mixed-Use Apartment and Retail
232844 N 2nd Street Philadelphia, PA 19133
232844 N 2nd Street, Philadelphia, PA, 19133
$11,999,999
For Sale
$11,999,999
Newly constructed, elevator-served apartment building with 3,750 square feet of ground-floor retail and resident amenities.
Days on Market57
Property Features for 232844 N 2nd Street
General Information
- Standard status
- Active
- Property subtype
- Commercial
Building Details
- Year Built
- 2023
Listing Agency
KW Empower
(215) 627-3500
Listed by
Jim Onesti · License #RS224457L
Source
Deepcreeklake
Added: May 25 Checked: Jul 20 at 6:18 am
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 KW Empower
Investment Insights
Based on property information with market context.
Delivered in 2023, this newly constructed mixed-use asset includes a 33-unit, elevator-served apartment building alongside 3,750 square feet of ground-floor commercial space. The residential component features in-unit laundry for every apartment, with a rooftop deck and resident lounge. A 10-year, 100% improvement tax abatement is in place, contributing to the property’s institutional-style finish and operating structure. Residential occupancy is reported at 88%, and 17 units operate under a corporate master lease with Live Work Stay LLC through July 2027.
The commercial space totals 3,750 square feet across two ground-floor retail suites. The offering also includes four adjacent residentially zoned parcels (RSA-5) along North Philip Street, each approximately 1,441 square feet, conditionally approved for townhome development.
For buyers underwriting the opportunity, market rent information provided is $2,150–$2,400 per month for 2-bedroom units, and stabilization is described with an NOI target of $603,000 annually and an income capitalization approach value of $11,075,000. Taxes and square footage are the responsibility of the buyer to verify independently.
The commercial space totals 3,750 square feet across two ground-floor retail suites. The offering also includes four adjacent residentially zoned parcels (RSA-5) along North Philip Street, each approximately 1,441 square feet, conditionally approved for townhome development.
For buyers underwriting the opportunity, market rent information provided is $2,150–$2,400 per month for 2-bedroom units, and stabilization is described with an NOI target of $603,000 annually and an income capitalization approach value of $11,075,000. Taxes and square footage are the responsibility of the buyer to verify independently.
Key Highlights
- 2023‑built, elevator‑served 33‑unit apartment building with 3,750 SF of ground‑floor commercial space
- Includes rooftop deck, resident lounge, and in‑unit laundry in every apartment
- 88% residential occupancy; 17 units under a corporate master lease with Live Work Stay LLC through July 2027
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Newly constructed, elevator-served apartment building with 3,750 square feet of ground-floor retail and resident amenities.
Where is this mixed-use property located?
The property is located at 232844 N 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $11,999,999.
What are key features of this property?
This property features: 2023‑built, elevator‑served 33‑unit apartment building with 3,750 SF of ground‑floor commercial space; Includes rooftop deck, resident lounge, and in‑unit laundry in every apartment; 88% residential occupancy; 17 units under a corporate master lease with Live Work Stay LLC through July 2027
