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    Corner Mixed-Use Retail and Apartments Title is generated by Realmo AI

    637 N 2ND Street, Philadelphia, PA 19123

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    Claim this Listing
    For Sale
    Under Contract
    $899,900

    MULTI_FAMILY - Other - PHILADELPHIA, PA

    Property size:
    3,180 SF
    Lot size:
    0.02 Acres
    Price / SF:
    $282/SF
    Added:
    Mar 10, 2026
    Days on Market:
    97
    Last Refresh:
    Jun 14 at 12:06 am

    Property Features for 637 N 2ND Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    On Street
    Standard status
    Active Under Contract
    Size
    3,180 SF
    Lot size
    0.02 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7610

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Number of units
    3
    Building materials
    Masonry
    Architectural style
    Other

    We can help!

    Listing Contact
    Lindsay Elizabeth Betz
    Lindsay Elizabeth Betz

    Listing agent Lindsay Elizabeth Betz License #RS339088

    Listing office Quinn & Wilson, Inc. 1653 The Fairway unit: 200, Jenkintown, PA

    Listing date Mar 10, 2026

    MLS# PAPH2592206 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use corner property in Northern Liberties with retail on the first floor and apartments above
    • First‑floor retail has oversized corner windows, tall ceilings, a basement level with storage/work space, and a powder room
    • Updated 1‑bedroom apartment includes living room, kitchen, bedroom, and separate office; granite countertops, stainless steel appliances, cherry floors, and in‑unit laundry
    • 2‑bedroom, two‑story apartment includes a renovated bathroom and a layout with added separation across two levels
    • Construction is masonry; heating is forced air and cooling is central air
    • Each unit is separately metered for electric and gas; parking available on street

    Overview

    This corner mixed-use property offers three distinct spaces: a prominent retail storefront on the first floor, a renovated one-bedroom apartment on the second floor, and a two-bedroom, two-story apartment on the upper levels. The retail level features tall ceilings and abundant natural light from front and side exposures, along with oversized display windows. A basement level below the storefront includes additional storage or work space and a convenient powder room. The one-bedroom unit includes a living room, kitchen, bedroom, and a separate office, with granite countertops, stainless steel appliances, cherry floors, and in-unit laundry. The two-bedroom apartment spans two stories and includes a renovated bathroom.

    The property is located at 637 N 2nd Street in Philadelphia, within Northern Liberties. The corner setting provides natural light from both front and side exposures and supports strong street presence for the first-floor storefront.

    For investors, the building’s separate electric and gas metering for each unit is a practical benefit for managing utility responsibility across the retail and residential components. For owner-occupants, the configuration supports living above while maintaining a street-level commercial presence. The updated apartment interiors and the existing retail setup, including basement space and powder room, provide workable functionality for multiple tenant and occupancy scenarios.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $82.0k $25.80
    − Vacancy −$4.5k −$1.42
    EGI $77.5k $24.38
    − OpEx −$23.3k −$7.31
    NOI $54.3k $17.06
    3,180 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $775.2K
    $678.3K – $904.4K (±1% cap)
    NOI $54,266 @ 7.0% cap · market cap 6.03%
    Second Best
    Apartment 5plus
    $714.6K
    $625.3K – $833.7K (±1% cap)
    NOI $50,020 @ 7.0% cap · market cap 5.56%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flowers Etcetera By ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.14099
    Latitude
    39.96175

    FAQs

    What type of property is this?
    Triplex - Corner property with a street-level retail space and two residential units, each separately metered for electric and gas.
    Where is this triplex located?
    The property is located at 637 N 2ND Street Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $899,900.
    What are key features of this property?
    This property features: Mixed‑use corner property in Northern Liberties with retail on the first floor and apartments above; First‑floor retail has oversized corner windows, tall ceilings, a basement level with storage/work space, and a powder room; Updated 1‑bedroom apartment includes living room, kitchen, bedroom, and separate office; granite countertops, stainless steel appliances, cherry floors, and in‑unit laundry
    More about this property
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