Retail Space with Private
For Sale
$350,000
451 N 12th St Unit A, Philadelphia, PA 19123
Commercial zoning and a flexible multi-room layout support retail, office, wellness, medical, beauty, and professional service uses.
Property Size1,722 SF
Price / SF$203.25
Days on Market44
Property Features for 451 N 12th St Unit A
General Information
Standard status
Active
Size
1,722 SF
Property subtype
Commercial
Amenities
reception/waiting area
multiple private rooms
steam room
full bathroom
full basement with additional enclosed rooms and laundry area
Building Details
Year Built
2006
Listing Agency:
Keller Williams Realty - Cherry Hill
(215) 327-1722
Listed By:
Paul P Cheng · License #AB068536
Source:
Findahomewithus
Added: Jul 17
Changed: Aug 28
Last Checked: Aug 25 at 6:17AM
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 Realty - Cherry Hill
Investment Insights
Based on property information with market context.
This 1,722-square-foot retail space was built in 2006 and includes a reception and waiting area, multiple private rooms, a steam room, and a full bathroom. The property also provides a full basement with additional enclosed rooms and a laundry area, creating a multi-level configuration for a range of business operations.
Located at 451 N 12th St Unit A in Philadelphia’s Center City District, the property is within a commercial zoning district. The stated permitted-use possibilities include retail, office, wellness, medical, beauty, and professional services, subject to applicable approvals and regulations.
Located at 451 N 12th St Unit A in Philadelphia’s Center City District, the property is within a commercial zoning district. The stated permitted-use possibilities include retail, office, wellness, medical, beauty, and professional services, subject to applicable approvals and regulations.
Key Highlights
- 1,722 SF retail space at 451 N 12th St Unit A, Philadelphia, PA 19123
- Built in 2006
- Reception and waiting area with multiple private rooms
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
$22,661
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
6.47%
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%
$453,220
$453.2K
Cap Rate 7%
$323,729
$323.7K
Cap Rate 9%
$251,789
$251.8K
Market Conditions
NOI Build-Up for 1,722 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
$37.8K $21.96/SF
− Vacancy
−$7.6K −$4.41/SF
EGI
$30.2K $17.55/SF
− OpEx
−$7.6K −$4.39/SF
NOI
$22.7K $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 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%
$453,220
Cap Rate 7%
$323,729
Cap Rate 9%
$251,789
Alternative Uses
Best Use
Office B
$323.7K
$283.3K – $377.7K
NOI $22,661 @ 7.0% cap · market cap 6.47%
Second Best
Retail
$278.0K
$243.3K – $324.4K
NOI $19,462 @ 7.0% cap · market cap 5.56%
Theoretical Best
Multifamily LT 5
$419.8K
$367.3K – $489.8K
NOI $29,386 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial zoning and a flexible multi-room layout support retail, office, wellness, medical, beauty, and professional service uses.
Where is this retail space located?
The property is located at 451 N 12th St Unit A Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,722 SF retail space at 451 N 12th St Unit A, Philadelphia, PA 19123; Built in 2006; Reception and waiting area with multiple private rooms
