Three-Story Mixed-Use
For Sale
$450,000
6009 Market St, Philadelphia, PA 19139
Newly renovated three-story mixed-use building with ground-floor commercial space and two one-bedroom apartments.
Property Size3,262 SF
Price / SF$137.95
Days on Market47
Property Features for 6009 Market St
General Information
Standard status
Active
Size
3,262 SF
Additional Details
Multifamily Units
2
Building Details
Year Built
1915
Stories
3
Listing Agency:
Keller Williams Main Line
Listed By:
Nafisa Bunch · License #RS330255
(267) 784-0037
Source:
Kandorre
Added: Jul 22
Changed: Jul 23
Last Checked: Sep 6 at 10:06AM
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.
This newly renovated three-story mixed-use property has been updated and is reported as never occupied. The ground level provides a commercial space designed to accommodate a variety of business uses, while the second and third floors each feature a one-bedroom apartment. Each apartment includes its own security system and an in-unit stackable washer and dryer.
Water and electric are separately metered, which can simplify management for ownership. The property is also described as easily accessible by SEPTA for travel to Center City or the suburbs.
With brand-new systems and modern finishes throughout, the layout supports both commercial and residential income in a West Philadelphia setting.
Water and electric are separately metered, which can simplify management for ownership. The property is also described as easily accessible by SEPTA for travel to Center City or the suburbs.
With brand-new systems and modern finishes throughout, the layout supports both commercial and residential income in a West Philadelphia setting.
Key Highlights
- Newly renovated three‑story mixed‑use building (built 1915) with ground‑floor commercial space and two one‑bedroom apartments
- Ground level designed for commercial use with second and third floors each featuring a one‑bedroom apartment
- Each residential unit includes a security system and in‑unit stackable 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
$36,868
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
8.19%
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%
$737,360
$737.4K
Cap Rate 7%
$526,686
$526.7K
Cap Rate 9%
$409,644
$409.6K
Market Conditions
NOI Build-Up for 3,262 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
$58.7K $18.00/SF
− Vacancy
−$6.0K −$1.85/SF
EGI
$52.7K $16.15/SF
− OpEx
−$15.8K −$4.84/SF
NOI
$36.9K $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%
$737,360
Cap Rate 7%
$526,686
Cap Rate 9%
$409,644
Alternative Uses
Best Use
Multifamily LT 5
$795.2K
$695.8K – $927.8K
NOI $55,666 @ 7.0% cap · market cap 12.37%
Second Best
Apartment 5plus
$733.0K
$641.4K – $855.2K
NOI $51,310 @ 7.0% cap · market cap 11.40%
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?
Duplex - Newly renovated three-story mixed-use building with ground-floor commercial space and two one-bedroom apartments.
Where is this duplex located?
The property is located at 6009 Market St 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: Newly renovated three‑story mixed‑use building (built 1915) with ground‑floor commercial space and two one‑bedroom apartments; Ground level designed for commercial use with second and third floors each featuring a one‑bedroom apartment; Each residential unit includes a security system and in‑unit stackable washer/dryer
