Corner Mixed-Use Property
For Sale
$900,000
2345 East Somerset Street, Philadelphia, PA 19134
Two buildings combine residential, retail, and apartment space in a transit-accessible Philadelphia location.
Property Size3,192 SF
Price / SF$281.95
Days on Market281
Property Features for 2345 East Somerset Street
General Information
Standard status
Active
Size
3,192 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX1
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/1.5BA, 1 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,901
Amenities
No
https://www.zillow.com/view-imx/704881fe-4474-4831-a78b-acd549582371?wl=true&setAttribution=mls&initialViewType=pano
No Pool
Above Grade, Below Grade
Building Details
Year Built
1925
Buildings
2
Listing Agency:
KW Empower
Listed By:
Stacy L Sanseverino · License #RS281613
(512) 991-5648
Source:
Compass
Added: Nov 25, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:15PM
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.
This CMX1-zoned offering includes two buildings with three total units and 3,192 square feet of above- and below-grade space. The residential component includes a four-bedroom, one-and-a-half-bath single-family home under lease through 4/30/2026. A separate corner mixed-use duplex contains a leased retail space with basement office area, half bath, and yard access, plus a renovated second-floor two-bedroom apartment.
The apartment features a private deck, washer and dryer, dishwasher, central air, and new finishes. It is currently vacant. The retail lease is structured as NNN with more than 6 years remaining. Bus, subway, and commuter rail stations are each less than 1 mile away, while I-95, local retailers, and major shopping centers are also accessible from the property.
The apartment features a private deck, washer and dryer, dishwasher, central air, and new finishes. It is currently vacant. The retail lease is structured as NNN with more than 6 years remaining. Bus, subway, and commuter rail stations are each less than 1 mile away, while I-95, local retailers, and major shopping centers are also accessible from the property.
Key Highlights
- Two‑building, 3‑unit package totaling 3,192 SF
- CMX1 zoning with residential and mixed‑use components
- Corner duplex includes leased retail space and second‑floor apartment
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
$50,209
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
5.58%
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%
$1,004,180
$1.0M
Cap Rate 7%
$717,271
$717.3K
Cap Rate 9%
$557,878
$557.9K
Market Conditions
NOI Build-Up for 3,192 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
$96.9K $30.36/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$91.3K $28.60/SF
− OpEx
−$41.1K −$12.87/SF
NOI
$50.2K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,004,180
Cap Rate 7%
$717,271
Cap Rate 9%
$557,878
Alternative Uses
Best Use
Apartment 5plus
$717.3K
$627.6K – $836.8K
NOI $50,209 @ 7.0% cap · market cap 5.58%
Second Best
Mixed Use
$541.7K
$474.0K – $632.0K
NOI $37,921 @ 7.0% cap · market cap 4.21%
Theoretical Best
Multifamily LT 5
$778.2K
$680.9K – $907.9K
NOI $54,471 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
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 combine residential, retail, and apartment space in a transit-accessible Philadelphia location.
Where is this mixed-use property located?
The property is located at 2345 East Somerset Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two‑building, 3‑unit package totaling 3,192 SF; CMX1 zoning with residential and mixed‑use components; Corner duplex includes leased retail space and second‑floor apartment
