Corner Multifamily
For Sale
$750,000
Pending
643 Moore Street, Philadelphia, PA 19148
Three-level property with a partially finished first floor and a two-floor residential unit above.
Property Size2,773 SF
Days on Market179
Property Features for 643 Moore Street
General Information
Standard status
Pending
Size
2,773 SF
Property subtype
Residential / Fee Simple
Zoning
RSA5
Property Condition
Severity
Major Repairs Needed
Evidence
Rehab required throughout
Taxes and HOA fees
Annual Taxes
$1,259
Amenities
No
Dryer, Dishwasher, Washer, Refrigerator
No Pool
Building Details
Year Built
1915
Stories
3
Listing Agency:
Keller Williams Philadelphia
Listed By:
Stephanie Slapin · License #RS279428
(215) 534-3279
Source:
Compass
Added: Mar 13
Changed: Aug 31
Last Checked: Aug 31 at 1:34AM
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 Keller Williams Philadelphia
Investment Insights
Based on property information with market context.
This 2,773-square-foot corner multifamily property was built in 1915 and requires major renovation. The ground level is partly improved with a kitchen and full bathroom; the balance remains unfinished for reconstruction. The upper levels are arranged as a three-bedroom, two-bath residential unit, providing a defined starting point for a broader rehabilitation plan.
The property is located at 643 Moore Street in Philadelphia’s 19148 area and is zoned RSA5. It is being offered in as-is condition. Existing floor separation and the combination of finished, unfinished, and residential areas create a redevelopment framework for a buyer evaluating a renovated multifamily or residential configuration.
The property is located at 643 Moore Street in Philadelphia’s 19148 area and is zoned RSA5. It is being offered in as-is condition. Existing floor separation and the combination of finished, unfinished, and residential areas create a redevelopment framework for a buyer evaluating a renovated multifamily or residential configuration.
Key Highlights
- 2,773‑square‑foot corner property requiring major renovation
- RSA5 zoning in Philadelphia’s 19148 area
- Ground floor includes a kitchen and full bathroom
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
$43,618
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
5.82%
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%
$872,360
$872.4K
Cap Rate 7%
$623,114
$623.1K
Cap Rate 9%
$484,644
$484.6K
Market Conditions
NOI Build-Up for 2,773 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
$84.2K $30.36/SF
− Vacancy
−$4.9K −$1.76/SF
EGI
$79.3K $28.60/SF
− OpEx
−$35.7K −$12.87/SF
NOI
$43.6K $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%
$872,360
Cap Rate 7%
$623,114
Cap Rate 9%
$484,644
Alternative Uses
Best Use
Apartment 5plus
$623.1K
$545.2K – $727.0K
NOI $43,618 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$676.0K
$591.5K – $788.7K
NOI $47,321 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,844
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
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?
Multifamily property - Three-level property with a partially finished first floor and a two-floor residential unit above.
Where is this multifamily property located?
The property is located at 643 Moore Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,773‑square‑foot corner property requiring major renovation; RSA5 zoning in Philadelphia’s 19148 area; Ground floor includes a kitchen and full bathroom
