Live-Work Space with Flexible Front
320 RACE STREET Unit 1, Philadelphia, PA 19106
For Sale
$450,000
A distinct private living area is set behind a front room that can accommodate work or residential use.
Property Size1,732 SF
Price / SF$259.82
Days on Market195
Property Features for 320 RACE STREET Unit 1
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Mixed-Use Components
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Elite Realty Group Unl. Inc.
Listed By:
Alena Stolyar · License PA RS274999
(215) 669-7658
Source:
Wagnerrealestate
Added: Apr 30
Changed: Nov 8
Last Checked: Nov 9 at 2:28PM
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 Elite Realty Group Unl. Inc.
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Investment Insights
Based on property information with market context.
Built in 1900, this 1732-square-foot live-work property pairs a large front room with private living quarters set farther inside. The front area can be arranged for professional work, a studio, gallery, boutique-style display, or residential living. Its layout separates the front space from the private portion of the residence within one address.
The property is at 320 Race Street in Philadelphia’s Old City neighborhood, with Center City access and nearby dining, coffee shops, and galleries noted in the surrounding area.
The property is at 320 Race Street in Philadelphia’s Old City neighborhood, with Center City access and nearby dining, coffee shops, and galleries noted in the surrounding area.
Key Highlights
- 1732 square feet of live‑work space
- Front room can serve as a workspace, studio, gallery, boutique‑style display area, or living room
- Private living quarters positioned apart from the front area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,792
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,840
$455.8K
Cap Rate 7%
$325,600
$325.6K
Cap Rate 9%
$253,244
$253.2K
Market Conditions
NOI Build-Up for 1,732 SF
Gross rent
$38.0K $21.96/SF
− Vacancy
−$7.6K −$4.41/SF
EGI
$30.4K $17.55/SF
− OpEx
−$7.6K −$4.39/SF
NOI
$22.8K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,840
Cap Rate 7%
$325,600
Cap Rate 9%
$253,244
Alternative Uses
Best Use
Office B
$325.6K
$284.9K – $379.9K
NOI $22,792 @ 7.0% cap · market cap 5.06%
Second Best
Mixed Use
$293.9K
$257.2K – $342.9K
NOI $20,576 @ 7.0% cap · market cap 4.57%
Theoretical Best
Multifamily LT 5
$422.2K
$369.5K – $492.6K
NOI $29,556 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
11,143
Businesses Nearby
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Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
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Market
Average Price Trend$/SF for Live-work space in Philadelphia, PA
Properties on Market for Live-work space in Philadelphia
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Live-work space - A distinct private living area is set behind a front room that can accommodate work or residential use.
Where is this live-work space located?
The property is located at 320 RACE STREET Unit 1 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: 1732 square feet of live‑work space; Front room can serve as a workspace, studio, gallery, boutique‑style display area, or living room; Private living quarters positioned apart from the front area
