Mixed-Use Corner
For Sale
$868,000
619 N 11th St, Philadelphia, PA 19123
Corner building with two commercial units and multiple apartments, including a first-floor grocery tenant.
Property Size4,647 SF
Price / SF$186.79
Days on Market101
Property Features for 619 N 11th St
General Information
Standard status
Active
Size
4,647 SF
Building Details
Year Built
1915
Listing Agency:
Liberty Real Estate
(267) 767-7612
Listed By:
Richard Q Li · License #RM421130
Source:
Kandorre
Added: May 21
Changed: Aug 23
Last Checked: Aug 28 at 12:44PM
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 Liberty Real Estate
Investment Insights
Based on property information with market context.
This mixed-use corner property includes two commercial units in the building. The first-floor space is leased to a grocery store, and the basement unit is leased to a contractor.
The building also contains apartment units, with four apartments in the main structure and one additional apartment on the first-floor rear. Public remarks indicate the property is located in the popular Chinatown area of north Philadelphia.
The current commercial and residential layout provides a combined income stream through retail and apartment tenancy within the same corner building.
The building also contains apartment units, with four apartments in the main structure and one additional apartment on the first-floor rear. Public remarks indicate the property is located in the popular Chinatown area of north Philadelphia.
The current commercial and residential layout provides a combined income stream through retail and apartment tenancy within the same corner building.
Key Highlights
- Corner building in north Chinatown with 2 commercial units and multiple apartments
- First‑floor commercial unit is leased to a grocery store
- Basement commercial unit is leased to a contractor; formerly used as a hair salon
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
$73,095
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
8.42%
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%
$1,461,900
$1.5M
Cap Rate 7%
$1,044,214
$1.0M
Cap Rate 9%
$812,167
$812.2K
Market Conditions
NOI Build-Up for 4,647 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
$141.1K $30.36/SF
− Vacancy
−$8.2K −$1.76/SF
EGI
$132.9K $28.60/SF
− OpEx
−$59.8K −$12.87/SF
NOI
$73.1K $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%
$1,461,900
Cap Rate 7%
$1,044,214
Cap Rate 9%
$812,167
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$913.7K – $1.22M
NOI $73,095 @ 7.0% cap · market cap 8.42%
Second Best
Specialty Retail
$961.9K
$841.7K – $1.12M
NOI $67,335 @ 7.0% cap · market cap 7.76%
Theoretical Best
Multifamily LT 5
$1.13M
$991.3K – $1.32M
NOI $79,301 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
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 - Corner building with two commercial units and multiple apartments, including a first-floor grocery tenant.
Where is this mixed-use property located?
The property is located at 619 N 11th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $868,000.
What are key features of this property?
This property features: Corner building in north Chinatown with 2 commercial units and multiple apartments; First‑floor commercial unit is leased to a grocery store; Basement commercial unit is leased to a contractor; formerly used as a hair salon
