Three-Unit Mixed-Use
For Sale
$1,399,999
2520 N Broad St, Philadelphia, PA 19132
Well-maintained three-unit mixed-use building with separate utilities and currently leased income across two floors.
Property Size11,362 SF
Price / SF$123.22
Days on Market48
Property Features for 2520 N Broad St
General Information
Standard status
Active
Size
11,362 SF
Building Details
Year Built
1915
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Paul P Cheng · License #AB068536
(215) 327-1722
Source:
Kandorre
Added: Jul 21
Changed: Sep 2
Last Checked: Sep 6 at 11:53AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Well-maintained three-unit mixed-use building with individual utilities for each unit, offering flexibility for investors or owner-users. The first floor includes two units, each approximately 4,500 sq. ft.: a furniture store that is currently leased and a beauty school that is owner-occupied with a projected rent of $4,500/month (NNN). The second floor is 2,000 sq. ft. and is fully leased to a healthcare office, featuring three large offices, a waiting area, and a full bathroom.
The property is located on Broad Street in a highly active, high-visibility commercial corridor and is conveniently situated along a subway line.
Current gross rental income is $132,000 annually, with additional projected income from the owner-occupied beauty school. The property is described as having NNN leases intended to reduce landlord expenses, and it is presented as fully occupied on a projected basis. Proof of funds is required prior to scheduling a showing.
The property is located on Broad Street in a highly active, high-visibility commercial corridor and is conveniently situated along a subway line.
Current gross rental income is $132,000 annually, with additional projected income from the owner-occupied beauty school. The property is described as having NNN leases intended to reduce landlord expenses, and it is presented as fully occupied on a projected basis. Proof of funds is required prior to scheduling a showing.
Key Highlights
- 11,362 sq ft three‑unit mixed‑use building built in 1915, located on Broad Street in a transit‑accessible commercial corridor
- First floor includes two 4,500 sq ft units: furniture store leased at $4,500/month (NNN) and beauty school projected at $4,500/month (NNN)
- Second floor is fully leased as a healthcare office (2,000 sq ft) with 3 large offices, a waiting area, and a full bathroom
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
$128,416
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
9.17%
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%
$2,568,320
$2.6M
Cap Rate 7%
$1,834,514
$1.8M
Cap Rate 9%
$1,426,844
$1.4M
Market Conditions
NOI Build-Up for 11,362 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
$204.5K $18.00/SF
− Vacancy
−$21.1K −$1.85/SF
EGI
$183.5K $16.15/SF
− OpEx
−$55.0K −$4.84/SF
NOI
$128.4K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /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%
$2,568,320
Cap Rate 7%
$1,834,514
Cap Rate 9%
$1,426,844
Alternative Uses
Best Use
Office B
$2.14M
$1.87M – $2.49M
NOI $149,519 @ 7.0% cap · market cap 10.68%
Second Best
Healthcare Medical
$2.10M
$1.84M – $2.45M
NOI $147,252 @ 7.0% cap · market cap 10.52%
Theoretical Best
Multifamily LT 5
$2.77M
$2.42M – $3.23M
NOI $193,891 @ 7.0% cap · market cap 13.85%
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
2,976
Businesses Nearby
Explore this area
Business Placement
Demographics for 19132, PA
33,926
Population
17,402
Households
1.9
Avg Household Size
37
Median Age
13%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
15,421
Density / Sq Mi
$30,974
Median Household Income
$30,300
Median Earnings
$1,055
Median Rent
$73,000
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-maintained three-unit mixed-use building with separate utilities and currently leased income across two floors.
Where is this mixed-use property located?
The property is located at 2520 N Broad St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: 11,362 sq ft three‑unit mixed‑use building built in 1915, located on Broad Street in a transit‑accessible commercial corridor; First floor includes two 4,500 sq ft units: furniture store leased at $4,500/month (NNN) and beauty school projected at $4,500/month (NNN); Second floor is fully leased as a healthcare office (2,000 sq ft) with 3 large offices, a waiting area, and a full bathroom
