Mixed-Use Building with Ground
709 E Passyunk Avenue Philadelphia, PA 19147
709 E Passyunk Avenue, Philadelphia, PA, 19147
$950,000
For Sale
$950,000
Three-unit mixed-use property offers a vacant first-floor storefront plus two 1-bedroom apartments above.
Property Size2,052 SF
Price / SF$462.96
Days on Market695
Property Features for 709 E Passyunk Avenue
General Information
- Standard status
- Active
- Size
- 2,052 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1960
Listing agency
Century 21 Forrester Real Estate
(267) 688-1449
Listed by
Michael A Giangiordano II · License #RS338459
Source
Deepcreeklake
Added: Aug 26, 2024 Updated: Jul 20 at 9:17PM Checked: Jul 21 at 6:47AM
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 Century 21 Forrester Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property is configured as a three-unit building with a commercial storefront on the first floor and two 1-bedroom apartments on the second and third floors. The first-floor commercial space features a nice-sized open area with a powder room, with access to both the yard and the basement. The basement contains the building’s mechanical systems and is unfinished, with access from an interior staircase and exterior bilcox doors. The first floor includes central air and heating.
The second floor is a 1-bedroom apartment with radiator gas heating, laminate floors, and natural light. The third floor also features radiator gas heating and laminate floors, and is currently occupied on a month-to-month lease. Both apartments do not have air conditioning. All separate utilities are billed to the tenants, except water, which is paid by the landlord.
The second floor is a 1-bedroom apartment with radiator gas heating, laminate floors, and natural light. The third floor also features radiator gas heating and laminate floors, and is currently occupied on a month-to-month lease. Both apartments do not have air conditioning. All separate utilities are billed to the tenants, except water, which is paid by the landlord.
Key Highlights
- 3‑unit mixed‑use building (built in 1960) with a commercial store on the 1st floor and two 1‑bedroom apartments on the 2nd and 3rd floors
- 1st‑floor storefront is currently vacant with an open space plus a powder room, with access to the yard and the basement
- Basement has all mechanical systems and is unfinished; accessible from an interior staircase or exterior bilco‑style doors
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 | $52.9k | $25.80 |
| − Vacancy | −$2.9k | −$1.42 |
| EGI | $50.0k | $24.38 |
| − OpEx | −$15.0k | −$7.31 |
| NOI | $35.0k | $17.06 |
2,052 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$500.2K
$437.7K – $583.6K
NOI $35,017 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$461.1K
$403.5K – $538.0K
NOI $32,277 @ 7.0% cap · market cap 3.40%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Future Classic Sound ...
Electronics & Wireless Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Three-unit mixed-use property offers a vacant first-floor storefront plus two 1-bedroom apartments above.
Where is this mixed-use property located?
The property is located at 709 E Passyunk Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3‑unit mixed‑use building (built in 1960) with a commercial store on the 1st floor and two 1‑bedroom apartments on the 2nd and 3rd floors; 1st‑floor storefront is currently vacant with an open space plus a powder room, with access to the yard and the basement; Basement has all mechanical systems and is unfinished; accessible from an interior staircase or exterior bilco‑style doors
