Mixed-Use Property with
New
For Sale
$1,150,000
607 E Passyunk Ave, Philadelphia, PA 19147
Fully leased building combines street-level commercial space with three residential units.
Property Size3,480 SF
Price / SF$330.46
Days on Market5
Property Features for 607 E Passyunk Ave
General Information
Standard status
Active
Size
3,480 SF
Property subtype
Commercial
Building Details
Year Built
1915
Listing Agency:
KW Empower
Listed By:
Ryan McCann · License #RS317849
(484) 429-1637
Source:
Viewmarylandhomesforsale
Added: Sep 17
Changed: Sep 20
Last Checked: Sep 21 at 7:13AM
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 KW Empower
Investment Insights
Based on property information with market context.
This 3,480-square-foot mixed-use building, constructed in 1915, contains one street-facing commercial unit with a basement and three two-bedroom, one-bath apartments. The commercial space offers an open configuration suitable for office, storefront, studio, or other business use, with substantial basement storage. Residential features include central A/C, in-unit laundry, bright living areas, dining space, modern kitchens with dishwashers, spacious bedrooms, and exposed brick details.
The property is located along the border of Queen Village and Society Hill, near South Street’s restaurants, cafés, shops, and nightlife. Jefferson and Penn hospitals are within walking distance, while nearby public transportation and access to I-95 connect the property with Center City, Old City, the waterfront, and South Jersey. The building is fully leased.
The property is located along the border of Queen Village and Society Hill, near South Street’s restaurants, cafés, shops, and nightlife. Jefferson and Penn hospitals are within walking distance, while nearby public transportation and access to I-95 connect the property with Center City, Old City, the waterfront, and South Jersey. The building is fully leased.
Key Highlights
- 3,480‑square‑foot mixed‑use building constructed in 1915
- One street‑level commercial unit with basement storage
- Three 2‑bedroom, 1‑bath apartments
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
$54,739
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
4.76%
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%
$1,094,780
$1.1M
Cap Rate 7%
$781,986
$782.0K
Cap Rate 9%
$608,211
$608.2K
Market Conditions
NOI Build-Up for 3,480 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
$105.7K $30.36/SF
− Vacancy
−$6.1K −$1.76/SF
EGI
$99.5K $28.60/SF
− OpEx
−$44.8K −$12.87/SF
NOI
$54.7K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,094,780
Cap Rate 7%
$781,986
Cap Rate 9%
$608,211
Alternative Uses
Best Use
Apartment 5plus
$782.0K
$684.2K – $912.3K
NOI $54,739 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$590.6K
$516.8K – $689.0K
NOI $41,342 @ 7.0% cap · market cap 3.59%
Theoretical Best
Multifamily LT 5
$848.4K
$742.3K – $989.8K
NOI $59,386 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9,041
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased building combines street-level commercial space with three residential units.
Where is this mixed-use property located?
The property is located at 607 E Passyunk Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,480‑square‑foot mixed‑use building constructed in 1915; One street‑level commercial unit with basement storage; Three 2‑bedroom, 1‑bath apartments
