Mixed-Use Property with
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 Market79
Property Features for 607 E Passyunk Ave
General Information
Standard status
Active
Size
3,480 SF
Property subtype
Commercial
Site & Location
Neighborhood
Queen Village
Building Details
Year Built
1915
Listing Agency:
KW Empower
Listed By:
Ryan McCann · License #RS317849
(484) 429-1637
Source:
Viewmarylandhomesforsale
Added: Aug 20
Changed: Nov 1
Last Checked: Nov 4 at 2:33PM
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
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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 / Yr
$54,739
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
9,041
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
$524,900
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Philadelphia, PA
Properties on Market for Mixed-use properties in Philadelphia
Vacancy Rate% for Multifamily in Northeast region
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
