Mixed-Use Double-Wide Retail
For Sale
$2,750,000
612 S 4th St, Philadelphia, PA 19147
Double-wide, fully leased building with two ground-floor retail spaces and eight residential apartments.
Property Size8,000 SF
Price / SF$343.75
Days on Market152
Property Features for 612 S 4th St
General Information
Standard status
Active
Size
8,000 SF
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$12,360
Building Details
Tenancy
Multi
Listing Agency:
MAXWELL REALTY COMPANY
(215) 546-6000
Listed By:
Nancy L Alperin · License #RM050817L
(215) 620-0099
Source:
Exprealty
Added: Apr 8
Changed: Aug 20
Last Checked: Sep 6 at 1:18PM
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 MAXWELL REALTY COMPANY
Investment Insights
Based on property information with market context.
This double-wide mixed-use property includes two contiguous buildings with a total of 10 fully leased units: eight residential apartments and two ground-floor commercial spaces. The residential component features four two-bedroom apartments and four bi-level one-bedroom units, accessed via a private, gated entrance on Leithgow Street. Apartment interiors include hardwood flooring, granite countertops, stainless steel appliances, custom cherry cabinetry, designer-tiled bathrooms, and central air conditioning. Residents also have access to a rooftop deck.
The two storefront spaces are occupied under long-term leases and currently operate as a UPS store and a nail salon. Each storefront benefits from strong visibility and multiple points of egress.
The buildings have separately metered utilities, including water, paid directly by tenants, which can reduce owner expense and simplify day-to-day management.
The two storefront spaces are occupied under long-term leases and currently operate as a UPS store and a nail salon. Each storefront benefits from strong visibility and multiple points of egress.
The buildings have separately metered utilities, including water, paid directly by tenants, which can reduce owner expense and simplify day-to-day management.
Key Highlights
- Two contiguous buildings at 612–614 S. 4th St. totaling 10 fully leased units: 8 residential apartments and 2 ground‑floor commercial spaces.
- Residential unit mix: four 2‑bedroom apartments and four bi‑level 1‑bedroom units.
- Residential accessed via a private, gated entrance on Leithgow Street; hardwood floors, granite countertops, stainless steel appliances, and custom cherry cabinetry.
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
$125,836
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
4.58%
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%
$2,516,720
$2.5M
Cap Rate 7%
$1,797,657
$1.8M
Cap Rate 9%
$1,398,178
$1.4M
Market Conditions
NOI Build-Up for 8,000 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
$242.9K $30.36/SF
− Vacancy
−$14.1K −$1.76/SF
EGI
$228.8K $28.60/SF
− OpEx
−$103.0K −$12.87/SF
NOI
$125.8K $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%
$2,516,720
Cap Rate 7%
$1,797,657
Cap Rate 9%
$1,398,178
Alternative Uses
Best Use
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,836 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$1.29M
$1.13M – $1.51M
NOI $90,418 @ 7.0% cap · market cap 3.29%
Theoretical Best
Multifamily LT 5
$1.95M
$1.71M – $2.28M
NOI $136,519 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Double-wide, fully leased building with two ground-floor retail spaces and eight residential apartments.
Where is this apartment building located?
The property is located at 612 S 4th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Two contiguous buildings at 612–614 S. 4th St. totaling 10 fully leased units: 8 residential apartments and 2 ground‑floor commercial spaces.; Residential unit mix: four 2‑bedroom apartments and four bi‑level 1‑bedroom units.; Residential accessed via a private, gated entrance on Leithgow Street; hardwood floors, granite countertops, stainless steel appliances, and custom cherry cabinetry.
