Four-Story Mixed-Use
For Sale
$995,000
Pending
238 S 11th St, Philadelphia, PA 19107
Three-unit property with commercial space, two residences, private outdoor areas, and CMX-1 zoning.
Property Size3,616 SF
Days on Market188
Property Features for 238 S 11th St
General Information
Standard status
Pending
Size
3,616 SF
Property subtype
Multi-Family
Zoning
CMX-1
Occupancy
100%
Building Details
Year Built
1900
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
A La Carte Realty LLC
Listed By:
Jill Fratto · License #RB068060
(610) 664-2400
Source:
Baltimoreharfordhomesforsale
Added: Mar 6
Changed: Sep 9
Last Checked: Sep 9 at 3:39PM
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 A La Carte Realty LLC
Investment Insights
Based on property information with market context.
Built in 1900, this 3,616-square-foot, four-story mixed-use property contains three units. The first-floor commercial space is operating as a hair salon and includes high ceilings, natural light, a private entrance, and a large unfinished basement with rear access and private outdoor space. Residential space includes a one-bedroom apartment on the second floor and a bi-level three-bedroom, two-bath apartment across the third and fourth floors. The upper residence features hardwood floors and access to a private deck.
The property is located at 238 S 11th St in Philadelphia’s Washington Square West neighborhood. All units have newer HVAC systems and windows, and each is leased on a month-to-month basis. CMX-1 zoning supports the property’s mixed-use configuration.
The property is located at 238 S 11th St in Philadelphia’s Washington Square West neighborhood. All units have newer HVAC systems and windows, and each is leased on a month-to-month basis. CMX-1 zoning supports the property’s mixed-use configuration.
Key Highlights
- 3,616 SF four‑story mixed‑use building built in 1900
- Three units: one commercial space, a 1‑bedroom apartment, and a bi‑level 3‑bedroom, 2‑bath apartment
- CMX‑1 zoning with commercial and residential components
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
$61,707
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
6.20%
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%
$1,234,140
$1.2M
Cap Rate 7%
$881,529
$881.5K
Cap Rate 9%
$685,633
$685.6K
Market Conditions
NOI Build-Up for 3,616 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
$93.3K $25.80/SF
− Vacancy
−$5.1K −$1.42/SF
EGI
$88.2K $24.38/SF
− OpEx
−$26.4K −$7.31/SF
NOI
$61.7K $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%
$1,234,140
Cap Rate 7%
$881,529
Cap Rate 9%
$685,633
Alternative Uses
Best Use
Multifamily LT 5
$881.5K
$771.3K – $1.03M
NOI $61,707 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$812.5K
$711.0K – $948.0K
NOI $56,878 @ 7.0% cap · market cap 5.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
25,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-unit property with commercial space, two residences, private outdoor areas, and CMX-1 zoning.
Where is this mixed-use property located?
The property is located at 238 S 11th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,616 SF four‑story mixed‑use building built in 1900; Three units: one commercial space, a 1‑bedroom apartment, and a bi‑level 3‑bedroom, 2‑bath apartment; CMX‑1 zoning with commercial and residential components
