Mixed-Use Property with
New
For Sale
$700,000
2600 E Somerset St, Philadelphia, PA 19134
Four apartments sit above a ground-floor café, and the retail tenant reimburses its share of insurance and common-area expenses.
Property Size3,196 SF
Days on Market4
Property Features for 2600 E Somerset St
General Information
Standard status
Active
Size
3,196 SF
Property subtype
Mixed-Use
Occupancy
100%
Additional Details
Cap Rate
7.49%
Highway Access
Yes
Multifamily Units
4
Amenities
Fully Occupied Mixed-Use Asset with Diversified Income Streams
Tenant Reimbursements Supporting Durable In-Place Cash Flow
Immediate Access to Public Transportation and Major Interstate Corridors
Growing Investor Demand in the Port Richmond Submarket
Building Details
Building Size
3,196 SF
Units
4
Tenancy
Multi
Listing Agency:
Philadelphia Office
(215) 531-7000
Listed By:
Vince Peruto · License #PA: RS355924
(215) 531-7035
Source:
Marcusmillichap
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 20 at 5:12PM
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 Philadelphia Office
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Investment Insights
Based on property information with market context.
The property combines four residential units on the upper floors with a café at street level. It is fully occupied, and the retail tenant contributes toward insurance and common-area expenses. The café lease extends through June 2029 and includes scheduled rent increases during the term.
Located in Philadelphia’s Port Richmond section, the building is just off Aramingo and Lehigh Avenues, with access to I-95. Neighborhood retail, restaurants, and everyday amenities are within walking distance.
Located in Philadelphia’s Port Richmond section, the building is just off Aramingo and Lehigh Avenues, with access to I-95. Neighborhood retail, restaurants, and everyday amenities are within walking distance.
Key Highlights
- Four residential units above a ground‑floor café
- Fully occupied mixed‑use property
- Café lease runs through June 2029 with scheduled rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,272
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,440
$1.0M
Cap Rate 7%
$718,171
$718.2K
Cap Rate 9%
$558,578
$558.6K
Market Conditions
NOI Build-Up for 3,196 SF
Gross rent
$97.0K $30.36/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$91.4K $28.60/SF
− OpEx
−$41.1K −$12.87/SF
NOI
$50.3K $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 Rate 5%
$1,005,440
Cap Rate 7%
$718,171
Cap Rate 9%
$558,578
Alternative Uses
Best Use
Apartment 5plus
$718.2K
$628.4K – $837.9K
NOI $50,272 @ 7.0% cap · market cap 7.18%
Second Best
Specialty Retail
$661.6K
$578.9K – $771.8K
NOI $46,310 @ 7.0% cap · market cap 6.62%
Theoretical Best
Multifamily LT 5
$779.1K
$681.7K – $909.0K
NOI $54,539 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,361
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four apartments sit above a ground-floor café, and the retail tenant reimburses its share of insurance and common-area expenses.
Where is this mixed-use property located?
The property is located at 2600 E Somerset St Philadelphia, PA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Four residential units above a ground‑floor café; Fully occupied mixed‑use property; Café lease runs through June 2029 with scheduled rent increases
