Five-Story Mixed-Use Building with
For Sale
$3,300,000
701 Chestnut St, Philadelphia, PA 19106
Five-story property combines multiple units with an established first-floor deli tenancy.
Property Size10,710 SF
Price / SF$308.12
Days on Market22
Property Features for 701 Chestnut St
General Information
Standard status
Active
Size
10,710 SF
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Buildings
1
Stories
5
Tenancy
Multi
Listing Agency:
Home Vista Realty
Listed By:
YanLing Zhang · License #RB069036
(215) 980-8881
Source:
Southjerseyshorehomesfinder
Added: Aug 13
Changed: Aug 28
Last Checked: Sep 1 at 9:33PM
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 Home Vista Realty
Investment Insights
Based on property information with market context.
Built in 1900, this 10,710-square-foot mixed-use property rises five stories and includes six units. A long-term deli tenant occupies the first floor, providing an existing food-service component within the building. The property also features a classic façade and a commercial configuration suited to its urban setting.
Located at 701 Chestnut St in Philadelphia’s Washington Square West neighborhood, the building is near Independence Hall, Washington Square Park, and major transit lines. Its position places the property within a walkable Center City context surrounded by established civic, recreational, and transportation destinations.
Located at 701 Chestnut St in Philadelphia’s Washington Square West neighborhood, the building is near Independence Hall, Washington Square Park, and major transit lines. Its position places the property within a walkable Center City context surrounded by established civic, recreational, and transportation destinations.
Key Highlights
- 10,710‑square‑foot, five‑story mixed‑use building
- Six units plus a long‑term deli tenant on the first floor
- Built in 1900
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
$168,463
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
5.10%
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%
$3,369,260
$3.4M
Cap Rate 7%
$2,406,614
$2.4M
Cap Rate 9%
$1,871,811
$1.9M
Market Conditions
NOI Build-Up for 10,710 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
$325.2K $30.36/SF
− Vacancy
−$18.9K −$1.76/SF
EGI
$306.3K $28.60/SF
− OpEx
−$137.8K −$12.87/SF
NOI
$168.5K $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%
$3,369,260
Cap Rate 7%
$2,406,614
Cap Rate 9%
$1,871,811
Alternative Uses
Best Use
Apartment 5plus
$2.41M
$2.11M – $2.81M
NOI $168,463 @ 7.0% cap · market cap 5.10%
Second Best
Mixed Use
$1.82M
$1.59M – $2.12M
NOI $127,235 @ 7.0% cap · market cap 3.86%
Theoretical Best
Multifamily LT 5
$2.61M
$2.28M – $3.05M
NOI $182,765 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
17,142
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
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 - Five-story property combines multiple units with an established first-floor deli tenancy.
Where is this mixed-use property located?
The property is located at 701 Chestnut St Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 10,710‑square‑foot, five‑story mixed‑use building; Six units plus a long‑term deli tenant on the first floor; Built in 1900
