Prime Philadelphia Retail
For Sale
$6,500,000
419 S 2nd Street, Philadelphia, PA 19147
Located at the intersection of 2nd and Lombard.
Property Size33,500 SF
Price / SF$194.03
Days on Market300
Property Features for 419 S 2nd Street
General Information
Standard status
Active
Size
33,500 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
1900
Listing Agency:
M S Fox Real Estate Group Inc
Listed By:
Michael S Fox · License #RM043119B
(215) 568-8000
Source:
Deepcreeklake
Added: Nov 8, 2025
Changed: Sep 3
Last Checked: Sep 2 at 7:47PM
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 M S Fox Real Estate Group Inc
Investment Insights
Based on property information with market context.
This commercial real estate is a retail property and storefront property located at the intersection of 2nd and Lombard. The property size is 33,500 square feet.
Key Highlights
- Central air cooling for those hot summer days.
- Forced air heating for consistent warmth.
- Natural gas heating provides an efficient heating solution.
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
$378,624
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
5.82%
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%
$7,572,480
$7.6M
Cap Rate 7%
$5,408,914
$5.4M
Cap Rate 9%
$4,206,933
$4.2M
Market Conditions
NOI Build-Up for 33,500 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
$603.0K $18.00/SF
− Vacancy
−$62.1K −$1.85/SF
EGI
$540.9K $16.15/SF
− OpEx
−$162.3K −$4.84/SF
NOI
$378.6K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /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%
$7,572,480
Cap Rate 7%
$5,408,914
Cap Rate 9%
$4,206,933
Alternative Uses
Best Use
Retail
$5.41M
$4.73M – $6.31M
NOI $378,624 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$8.17M
$7.15M – $9.53M
NOI $571,674 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,805
Businesses Nearby
67k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 49%
Shops & Services 24%
Groceries 19%
Dining 6%
Philadelphia Marriott Old City
Hotels & Casinos
14,972 visits/mo
0.3 miles
ACME Markets
Groceries
12,615 visits/mo
0.2 miles
Kimpton Hotel Monaco Philadelphia
Hotels & Casinos
10,769 visits/mo
0.4 miles
TD Bank
Shops & Services
6,416 visits/mo
0.1 miles
Renaissance Philadelphia Downtown Hotel
Hotels & Casinos
5,199 visits/mo
0.4 miles
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Located at the intersection of 2nd and Lombard.
Where is this storefront property located?
The property is located at 419 S 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Central air cooling for those hot summer days.; Forced air heating for consistent warmth.; Natural gas heating provides an efficient heating solution.
