Three-Story Mixed-Use with Retail and
For Sale
$450,000
6009 Market Street, Philadelphia, PA 19139
Three-story mixed-use property with ground-floor retail and two one-bedroom apartments, newly renovated and never occupied.
Property Size2,427 SF
Price / SF$185.41
Days on Market278
Property Features for 6009 Market Street
General Information
Standard status
Active
Size
2,427 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,200
Amenities
No
Cooktop, Exhaust Fan, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer/Dryer Stacked, Water Heater
2nd Kitchen, Bathroom - Walk-In Shower, Combination Dining/Living, Floor Plan - Open, Intercom, Kitchen - Galley, Recessed Lighting
Carbon Monoxide Detector(s), Exterior Cameras, Fire Detection System, Intercom, Motion Detectors, Security System, Smoke Detector
2+ Access Exits
No Pool
Building Details
Year Built
1915
Stories
3
Listing Agency:
Keller Williams Main Line
Listed By:
Nafisa Bunch · License #RS330255
(267) 784-0037
Source:
Compass
Added: Dec 2, 2025
Changed: Aug 14
Last Checked: Aug 14 at 8:00AM
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 Main Line
Investment Insights
Based on property information with market context.
Newly renovated and never occupied, this three-story mixed-use property at 6009 Market Street is designed for flexible use. The ground level provides a commercial space suitable for a variety of business operations, while the second and third floors each feature a one-bedroom apartment.
Each residential unit includes its own security system and in-unit stackable washer and dryer. Water and electric are separately metered, which can simplify management for ownership.
The property includes brand-new systems and modern finishes throughout. Public transportation access is highlighted as well, with a metro/subway station and a bus stop located less than 1 mile away, and an airport less than 10 miles away. Floorplans are scheduled to be uploaded on or before March 11, 2026.
Each residential unit includes its own security system and in-unit stackable washer and dryer. Water and electric are separately metered, which can simplify management for ownership.
The property includes brand-new systems and modern finishes throughout. Public transportation access is highlighted as well, with a metro/subway station and a bus stop located less than 1 mile away, and an airport less than 10 miles away. Floorplans are scheduled to be uploaded on or before March 11, 2026.
Key Highlights
- Three‑story mixed‑use property with ground‑floor commercial space and two separate 1‑bedroom apartments
- Newly renovated and never occupied
- Each residential unit includes a security system and in‑unit stacked washer/dryer
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
$41,416
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
9.20%
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%
$828,320
$828.3K
Cap Rate 7%
$591,657
$591.7K
Cap Rate 9%
$460,178
$460.2K
Market Conditions
NOI Build-Up for 2,427 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
$62.6K $25.80/SF
− Vacancy
−$3.5K −$1.42/SF
EGI
$59.2K $24.38/SF
− OpEx
−$17.7K −$7.31/SF
NOI
$41.4K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$828,320
Cap Rate 7%
$591,657
Cap Rate 9%
$460,178
Alternative Uses
Best Use
Multifamily LT 5
$591.7K
$517.7K – $690.3K
NOI $41,416 @ 7.0% cap · market cap 9.20%
Second Best
Apartment 5plus
$545.4K
$477.2K – $636.3K
NOI $38,176 @ 7.0% cap · market cap 8.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,775
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use property with ground-floor retail and two one-bedroom apartments, newly renovated and never occupied.
Where is this mixed-use property located?
The property is located at 6009 Market Street 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: Three‑story mixed‑use property with ground‑floor commercial space and two separate 1‑bedroom apartments; Newly renovated and never occupied; Each residential unit includes a security system and in‑unit stacked washer/dryer
