Upgraded Corner Mixed-Use
For Sale
$1,195,900
2845 W Diamond Street, Philadelphia, PA 19121
Upgraded corner building with three residential units and a bi-level commercial space plus dedicated accessibility and separate entry.
Property Size4,973 SF
Price / SF$240.48
Days on Market173
Property Features for 2845 W Diamond Street
General Information
Standard status
Active
Size
4,973 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
2022
Listing Agency:
Keller Williams Main Line
Listed By:
John D McDonald · License #RS284363
(215) 253-8204
Source:
Deepcreeklake
Added: Mar 18
Changed: Sep 5
Last Checked: Aug 5 at 4:50AM
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 Main Line
Investment Insights
Based on property information with market context.
An upgraded mixed-use corner property built in 2022 featuring three residential units and a bi-level commercial anchor space. The building is fully stabilized and described as upgraded with insulation improvements for soundproofing and thermal efficiency, including open cell foam insulation in the walls and a roof sealed with closed cell foam. The commercial areas include dedicated energy recovery ventilation (ERV) systems, and the primary commercial space includes a handicap-accessible ramp. A separate entrance is provided for the secondary unit.
Residential finishes listed include quartz countertops, stainless steel appliances, in-unit laundry, hardwood floors, tiled bathrooms, and private or massive roof deck access. The property is managed with remotely accessible security cameras covering the exterior and commercial interiors. The seller notes an approved 10-year tax abatement and highlights remote-technology features intended to simplify building operations.
The building is positioned at the intersection of Strawberry Mansion and Brewerytown on West Diamond Street, with access described as convenient to Temple University Main Campus and University City, and to 30th Street Station and the Schuylkill Expressway.
Residential finishes listed include quartz countertops, stainless steel appliances, in-unit laundry, hardwood floors, tiled bathrooms, and private or massive roof deck access. The property is managed with remotely accessible security cameras covering the exterior and commercial interiors. The seller notes an approved 10-year tax abatement and highlights remote-technology features intended to simplify building operations.
The building is positioned at the intersection of Strawberry Mansion and Brewerytown on West Diamond Street, with access described as convenient to Temple University Main Campus and University City, and to 30th Street Station and the Schuylkill Expressway.
Key Highlights
- 2022 mixed‑use corner building with 3 residential units plus a bi‑level commercial space
- Approved 10‑year tax abatement
- Energy‑efficient construction: open cell foam insulation in walls and a closed cell foam sealed roof
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
$84,864
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
7.10%
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%
$1,697,280
$1.7M
Cap Rate 7%
$1,212,343
$1.2M
Cap Rate 9%
$942,933
$942.9K
Market Conditions
NOI Build-Up for 4,973 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
$128.3K $25.80/SF
− Vacancy
−$7.1K −$1.42/SF
EGI
$121.2K $24.38/SF
− OpEx
−$36.4K −$7.31/SF
NOI
$84.9K $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%
$1,697,280
Cap Rate 7%
$1,212,343
Cap Rate 9%
$942,933
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,864 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$1.12M
$977.8K – $1.30M
NOI $78,223 @ 7.0% cap · market cap 6.54%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,225
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Upgraded corner building with three residential units and a bi-level commercial space plus dedicated accessibility and separate entry.
Where is this triplex located?
The property is located at 2845 W Diamond Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,195,900.
What are key features of this property?
This property features: 2022 mixed‑use corner building with 3 residential units plus a bi‑level commercial space; Approved 10‑year tax abatement; Energy‑efficient construction: open cell foam insulation in walls and a closed cell foam sealed roof
