Multi-Use Religious and Event
New
For Sale
$999,999
493135 N 6th Street, Philadelphia, PA 19120
Updated mixed-use facility with worship, event, classroom, and residential components under separate access and utility arrangements.
Property Size8,680 SF
Price / SF$115.21
Days on Market5
Property Features for 493135 N 6th Street
General Information
Standard status
Active
Size
8,680 SF
Property subtype
Commercial
Lease Term
[]
Units
Unit Mix
1 x 4-Bedroom
Multifamily Units
1
Additional Details
Sprinkler System
Yes
Amenities
central air
dedicated laundry
updated kitchen
Building Details
Year Built
1927
Listing Agency:
United Real Estate Group
Listed By:
Alexis Trujillo-Ortiz · License #RM423829
(215) 941-8484
Source:
Deepcreeklake
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 16 at 5:37PM
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 United Real Estate Group
Investment Insights
Based on property information with market context.
Located at 493135 N 6th Street in Philadelphia, this 8,680-square-foot mixed-use property combines a worship facility, event space, classrooms, and residential quarters within one building. The 5,680-square-foot sanctuary area includes a reception space, ceramic tile flooring, recessed lighting, upgraded electrical panels, four classrooms, and separate men’s and ladies’ restrooms. A 1,900-square-foot upper-level hall provides additional gathering space, while the 1,100-square-foot apartment includes central air, laundry, two full bathrooms, and an updated kitchen.
The building is organized into three independently metered areas with three private entrances. Infrastructure includes 3 exterior electric meters, 5 electrical panels, 4 heating systems, and 3 water heaters. An operational fire sprinkler system and commercial fire alarm system serve the building. Built in 1927, the property offers a combination of institutional, event, and residential improvements in Philadelphia.
The building is organized into three independently metered areas with three private entrances. Infrastructure includes 3 exterior electric meters, 5 electrical panels, 4 heating systems, and 3 water heaters. An operational fire sprinkler system and commercial fire alarm system serve the building. Built in 1927, the property offers a combination of institutional, event, and residential improvements in Philadelphia.
Key Highlights
- 8,680‑square‑foot mixed‑use building with worship, event, classroom, and residential areas
- 5,680‑square‑foot sanctuary area with four classrooms and upgraded electrical systems
- 1,900‑square‑foot upper‑level banquet and event hall
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
$74,474
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
7.45%
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%
$1,489,480
$1.5M
Cap Rate 7%
$1,063,914
$1.1M
Cap Rate 9%
$827,489
$827.5K
Market Conditions
NOI Build-Up for 8,680 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
$135.4K $15.60/SF
− Vacancy
−$16.2K −$1.87/SF
EGI
$119.2K $13.73/SF
− OpEx
−$44.7K −$5.15/SF
NOI
$74.5K $8.58/SF
Area
ZIP 19120
Vacancy
12.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,489,480
Cap Rate 7%
$1,063,914
Cap Rate 9%
$827,489
Alternative Uses
Best Use
Mixed Use
$1.06M
$930.9K – $1.24M
NOI $74,474 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,142 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Explore this area
Business Placement
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated mixed-use facility with worship, event, classroom, and residential components under separate access and utility arrangements.
Where is this mixed-use property located?
The property is located at 493135 N 6th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 8,680‑square‑foot mixed‑use building with worship, event, classroom, and residential areas; 5,680‑square‑foot sanctuary area with four classrooms and upgraded electrical systems; 1,900‑square‑foot upper‑level banquet and event hall
