Three-Unit Mixed-Use
For Sale
$469,000
646 PIERCE STREET, Philadelphia, PA 19148
Three legal units include a third-floor residence with two walk-out balconies.
Property Size2,300 SF
Days on Market61
Property Features for 646 PIERCE STREET
General Information
Standard status
Active
Size
2,300 SF
Property subtype
MixedUse
Taxes and HOA fees
Annual Taxes
$4,596
Amenities
balconies
Building Details
Building Size
2,300 SF
Year Built
2004
Tenancy
Multi
Listing Agency:
Liberty Real Estate
Listed By:
Richard Q Li · License #RM421130
(267) 767-7612
Source:
Patmckennarealtors
Added: Aug 20
Changed: Oct 15
Last Checked: Oct 16 at 4:50PM
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
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Investment Insights
Based on property information with market context.
This mixed-use property contains three legal units and was built in 2004. The third-floor unit includes separate front and rear balconies that provide walk-out access.
Located at 646 Pierce Street in Philadelphia, Pennsylvania, the property combines a multi-unit configuration with outdoor space associated with the upper-level unit.
Located at 646 Pierce Street in Philadelphia, Pennsylvania, the property combines a multi-unit configuration with outdoor space associated with the upper-level unit.
Key Highlights
- Three legal units
- Third‑floor unit with front and rear walk‑out balconies
- Built in 2004
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,249
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$784,980
$785.0K
Cap Rate 7%
$560,700
$560.7K
Cap Rate 9%
$436,100
$436.1K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$59.3K $25.80/SF
− Vacancy
−$3.3K −$1.42/SF
EGI
$56.1K $24.38/SF
− OpEx
−$16.8K −$7.31/SF
NOI
$39.2K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$784,980
Cap Rate 7%
$560,700
Cap Rate 9%
$436,100
Alternative Uses
Best Use
Multifamily LT 5
$560.7K
$490.6K – $654.2K
NOI $39,249 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$516.8K
$452.2K – $603.0K
NOI $36,178 @ 7.0% cap · market cap 7.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three legal units include a third-floor residence with two walk-out balconies.
Where is this mixed-use property located?
The property is located at 646 PIERCE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Three legal units; Third‑floor unit with front and rear walk‑out balconies; Built in 2004
