Creative Space with Open
For Sale
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538 FEDERAL STREET #106, Philadelphia, PA 19147
Flexible commercial setting with high ceilings for studio, office, boutique, or showroom use.
Property Size615 SF
Price / SF$2.28
Days on Market50
Property Features for 538 FEDERAL STREET #106
General Information
Standard status
Active
Size
615 SF
Property subtype
Commercial
Site & Location
Neighborhood
Dickinson Narrows
Corner Location
No
Additional Details
Liquor License
No
Amenities
soaring ceilings
open floor plan
flexible layout
Building Details
Year Built
1930
Listing Agency:
JBMP Group
Listed By:
Maria A. Pacitti · License #RM423811
(267) 797-2175
Source:
Cummingsrealtors
Added: Sep 15
Changed: Nov 1
Last Checked: Nov 3 at 7:18AM
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 JBMP Group
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Investment Insights
Based on property information with market context.
This commercial space offers an open interior with high ceilings and an industrial-style finish. The adaptable layout can accommodate a studio, boutique, office, or showroom, allowing the occupant to organize the space around its operating needs. The property was built in 1930 and is identified as a 615-size commercial unit.
The space is located in Pennsport, within walking distance of Queen Village and East Passyunk Avenue. Its setting combines an older building context with a contemporary interior approach, supporting a range of creative and small-business applications.
The space is located in Pennsport, within walking distance of Queen Village and East Passyunk Avenue. Its setting combines an older building context with a contemporary interior approach, supporting a range of creative and small-business applications.
Key Highlights
- Open interior configuration with high ceilings
- Industrial‑style commercial setting
- Adaptable for studio, boutique, office, or showroom use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,093
Suggested Prices Based on Cap Rates
Cap Rate 5%
$161,860
$161.9K
Cap Rate 7%
$115,614
$115.6K
Cap Rate 9%
$89,922
$89.9K
Market Conditions
NOI Build-Up for 615 SF
Gross rent
$13.5K $21.96/SF
− Vacancy
−$2.7K −$4.41/SF
EGI
$10.8K $17.55/SF
− OpEx
−$2.7K −$4.39/SF
NOI
$8.1K $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%
$161,860
Cap Rate 7%
$115,614
Cap Rate 9%
$89,922
Alternative Uses
Best Use
Office B
$115.6K
$101.2K – $134.9K
NOI $8,093 @ 7.0% cap · market cap 578.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$149.9K
$131.2K – $174.9K
NOI $10,495 @ 7.0% cap · market cap 749.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,041
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Creative space - Flexible commercial setting with high ceilings for studio, office, boutique, or showroom use.
Where is this creative space located?
The property is located at 538 FEDERAL STREET #106 Philadelphia, PA.
What are key features of this property?
This property features: Open interior configuration with high ceilings; Industrial‑style commercial setting; Adaptable for studio, boutique, office, or showroom use
