3182 RICHMOND STREET, Philadelphia, PA 19134

Building Details

Building Size 3,800 SF More

Year Built 1930 More

Buildings 1 More

Listing Agency: Compass Pennsylvania, LLC

Listed By: david m cohen · License PA RS-282774 Show Phone

Source: Patmckennarealtors

Added: Oct 15 Changed: Nov 11 Last Checked: Nov 12 at 1:20PM

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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 Compass Pennsylvania, LLC

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Investment Insights

Based on property information with market context.

Built in 1930, this Philadelphia property is being considered for rehabilitation and conversion to residential apartments. Drawings have been prepared for a six-unit layout, while the proposed conversion and unit count remain subject to zoning verification, permits, and City approval.

The property is located on Richmond Street in Philadelphia. Potential redevelopment options require buyer due diligence regarding permitted uses and project feasibility.

Key Highlights

• 1930 construction
• Drawings prepared for a six‑apartment configuration
• Apartment conversion and unit count require zoning review, permits, and City approval

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$59,772

Cap Rate

8.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,195,440 $1.2M

Cap Rate 7%

$853,886 $853.9K

Cap Rate 9%

$664,133 $664.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,800 SF

Gross rent

$115.4K $30.36/SF

− Vacancy

−$6.7K −$1.76/SF

EGI

$108.7K $28.60/SF

− OpEx

−$48.9K −$12.87/SF

NOI

$59.8K $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%

$1,195,440

Cap Rate 7%

$853,886

Cap Rate 9%

$664,133

Alternative Uses

Best Use

Apartment 5plus

$853.9K

$747.2K – $996.2K (±1% cap)

NOI $59,772 @ 7.0% cap · market cap 8.54%

Second Best

Mixed Use

$644.9K

$564.3K – $752.4K (±1% cap)

NOI $45,144 @ 7.0% cap · market cap 6.45%

Theoretical Best

Multifamily LT 5

$926.4K

$810.6K – $1.08M (±1% cap)

NOI $64,847 @ 7.0% cap · market cap 9.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Cardtronics Atm Palace Entertainment Bar & Pub

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Computer & Electronic Repair Accounting Firm Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,166

Businesses Nearby

Explore this area 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

Market

Average Price Trend$/SF for Mixed-use properties in Philadelphia, PA

$234 Jul

$225 Aug

$209 Sep

$208 Oct

Properties on Market for Mixed-use properties in Philadelphia

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Plans envision a six-apartment layout, subject to zoning review and municipal approvals.

Where is this mixed-use property located?

The property is located at 3182 RICHMOND STREET 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: 1930 construction; Drawings prepared for a six‑apartment configuration; Apartment conversion and unit count require zoning review, permits, and City approval