Renovated CMX2 Mixed-Use
For Sale
$509,999
309 South 60th Street, Philadelphia, PA 19143
Corner configuration combines a commercial storefront with two one-bedroom apartments.
Property Size1,450 SF
Price / SF$351.72
Days on Market253
Property Features for 309 South 60th Street
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX2
Occupancy
100%
Additional Details
Gross Income
$45,000
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$970
Amenities
2+ Access Exits
No Pool
Above Grade
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Homestarr Realty
(267) 575-1325
Listed By:
Aldo Torres
(267) 575-1325
Source:
Compass
Added: Dec 21, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:53AM
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 Homestarr Realty
Investment Insights
Based on property information with market context.
This renovated mixed-use triplex at 309 South 60th Street combines a first-floor commercial space with two upper-level one-bedroom apartments. The property includes modern updates, above-grade construction, and two or more access exits. Built in 1920, the building offers a compact configuration serving both commercial and residential occupancy.
CMX2 zoning supports a range of commercial uses, while the corner position provides exposure along the surrounding streets. The property is located in Philadelphia’s West Philadelphia area and is identified within MLS Area 19139. All three units are currently rented, with the commercial space on the ground floor and one apartment on each upper floor.
CMX2 zoning supports a range of commercial uses, while the corner position provides exposure along the surrounding streets. The property is located in Philadelphia’s West Philadelphia area and is identified within MLS Area 19139. All three units are currently rented, with the commercial space on the ground floor and one apartment on each upper floor.
Key Highlights
- CMX2‑zoned mixed‑use triplex with commercial and residential components
- First‑floor commercial unit plus two upper‑level one‑bedroom apartments
- All three units are currently rented
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
$25,274
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
4.96%
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%
$505,480
$505.5K
Cap Rate 7%
$361,057
$361.1K
Cap Rate 9%
$280,822
$280.8K
Market Conditions
NOI Build-Up for 1,450 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
$43.5K $30.00/SF
− Vacancy
−$7.4K −$5.10/SF
EGI
$36.1K $24.90/SF
− OpEx
−$10.8K −$7.47/SF
NOI
$25.3K $17.43/SF
Area
ZIP 19143
Vacancy
17.00%
Lease Rate
$30.00 /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%
$505,480
Cap Rate 7%
$361,057
Cap Rate 9%
$280,822
Alternative Uses
Best Use
Retail
$361.1K
$315.9K – $421.2K
NOI $25,274 @ 7.0% cap · market cap 4.96%
Second Best
Mixed Use
$279.6K
$244.7K – $326.3K
NOI $19,575 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$497.0K
$434.9K – $579.8K
NOI $34,789 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,719
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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?
Mixed-use property - Corner configuration combines a commercial storefront with two one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 309 South 60th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $509,999.
What are key features of this property?
This property features: CMX2‑zoned mixed‑use triplex with commercial and residential components; First‑floor commercial unit plus two upper‑level one‑bedroom apartments; All three units are currently rented
