Corner Office and Apartment
For Sale
$450,000
2555 S JESSUP STREET, Philadelphia, PA 19148
Triplex offers a corner office on the first floor plus two residential units with central air.
Property Size1,504 SF
Price / SF$299.20
Days on Market58
Property Features for 2555 S JESSUP STREET
General Information
Standard status
Active
Size
1,504 SF
Total Parking Spaces
1
Property subtype
Triplex
Units
Multifamily Units
2
Office Units
1
Building Details
Year Built
1925
Listing Agency:
Anchor Commercial Development LLC
(215) 389-2280
Listed By:
Yvonne Hu · License #RM419525
(215) 389-2280
Source:
Cummingsrealtors
Added: Jul 7
Changed: Sep 2
Last Checked: Sep 1 at 6:26PM
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 Anchor Commercial Development LLC
Investment Insights
Based on property information with market context.
This versatile triplex includes three separate units: a studio apartment on the first floor to lower level, a one-bedroom apartment on the second floor, and a dedicated corner first-floor office space. The building provides abundant natural light throughout and includes central air systems throughout the property.
The property sits at the intersection of Shunk St and S Jessup St, with convenient access to shopping, dining, transportation, and major roadways. A single private drive-in garage provides parking for the building.
Designed to support multiple uses, the layout allows for a combination of residential income and a dedicated office space within the same corner building.
The property sits at the intersection of Shunk St and S Jessup St, with convenient access to shopping, dining, transportation, and major roadways. A single private drive-in garage provides parking for the building.
Designed to support multiple uses, the layout allows for a combination of residential income and a dedicated office space within the same corner building.
Key Highlights
- 1925‑built triplex at the corner of Shunk St and S Jessup St with an office and two residential units
- Unit mix includes a first‑floor to lower‑level studio apartment, a second‑floor one‑bedroom apartment, and a dedicated corner first‑floor office
- Abundant natural light throughout the building
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
$25,666
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
5.70%
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%
$513,320
$513.3K
Cap Rate 7%
$366,657
$366.7K
Cap Rate 9%
$285,178
$285.2K
Market Conditions
NOI Build-Up for 1,504 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
$38.8K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.7K $24.38/SF
− OpEx
−$11.0K −$7.31/SF
NOI
$25.7K $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%
$513,320
Cap Rate 7%
$366,657
Cap Rate 9%
$285,178
Alternative Uses
Best Use
Multifamily LT 5
$366.7K
$320.8K – $427.8K
NOI $25,666 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$338.0K
$295.7K – $394.3K
NOI $23,657 @ 7.0% cap · market cap 5.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,019
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 Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex offers a corner office on the first floor plus two residential units with central air.
Where is this triplex located?
The property is located at 2555 S JESSUP STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1925‑built triplex at the corner of Shunk St and S Jessup St with an office and two residential units; Unit mix includes a first‑floor to lower‑level studio apartment, a second‑floor one‑bedroom apartment, and a dedicated corner first‑floor office; Abundant natural light throughout the building
