Renovated Three-Story Mixed-Use
For Sale
$2,499,999
718 Chestnut Street Philadelphia, Philadelphia, PA 19106
Vacant commercial property with elevator access, finished lower-level space, and CMX_5 zoning.
Property Size9,600 SF
Price / SF$261.64
Days on Market101
Property Features for 718 Chestnut Street Philadelphia
General Information
Standard status
Active
Size
9,600 SF
Elevators
Yes
Zoning
CMX_5
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$2,520,900
Amenities
Natural Gas
Yes
1
No
Level
Public
23X145
0.07
Estimated
Brick/Mortar
9555.00
State
Building Details
Year Built
2014
Year Renovated
2012
Buildings
1
Stories
3
Building Size
9,600 SF
Listed By:
Viella Louis Castro
(866) 825-7169
Source:
Va.exprealty
Added: Jul 10
Changed: Oct 6
Last Checked: Oct 7 at 9:28AM
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 Viella Louis Castro
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Investment Insights
Based on property information with market context.
This 9,555-square-foot mixed-use building includes three stories and a fully finished basement served by an elevator to every level. The first floor has a reception area and kitchenette, while the second floor contains two large rooms with hardwood floors and high ceilings. The third floor is open space, and the basement adds storage or work area.
Renovations completed in 2011–12 included bathrooms, walls, flooring, staircases, electrical, plumbing, and high-efficiency HVAC systems. A sprinkler system serves each floor, including the basement. The property is currently vacant and zoned CMX_5, with a location at 718 Chestnut Street in Philadelphia, near the Market Street Revitalization Project, historical attractions, hospitals, and restaurants.
Renovations completed in 2011–12 included bathrooms, walls, flooring, staircases, electrical, plumbing, and high-efficiency HVAC systems. A sprinkler system serves each floor, including the basement. The property is currently vacant and zoned CMX_5, with a location at 718 Chestnut Street in Philadelphia, near the Market Street Revitalization Project, historical attractions, hospitals, and restaurants.
Key Highlights
- 9,555‑square‑foot mixed‑use building with three stories and a finished basement
- Elevator provides service to all levels, including the basement
- CMX_5 zoning supports retail, professional office, and residential conversion uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,739
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,514,780
$2.5M
Cap Rate 7%
$1,796,271
$1.8M
Cap Rate 9%
$1,397,100
$1.4M
Market Conditions
NOI Build-Up for 9,555 SF
Gross rent
$209.8K $21.96/SF
− Vacancy
−$42.2K −$4.41/SF
EGI
$167.7K $17.55/SF
− OpEx
−$41.9K −$4.39/SF
NOI
$125.7K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,514,780
Cap Rate 7%
$1,796,271
Cap Rate 9%
$1,397,100
Alternative Uses
Best Use
Office B
$1.80M
$1.57M – $2.10M
NOI $125,739 @ 7.0% cap · market cap 5.03%
Second Best
Mixed Use
$1.62M
$1.42M – $1.89M
NOI $113,513 @ 7.0% cap · market cap 4.54%
Theoretical Best
Multifamily LT 5
$2.33M
$2.04M – $2.72M
NOI $163,055 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
17,175
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant commercial property with elevator access, finished lower-level space, and CMX_5 zoning.
Where is this mixed-use property located?
The property is located at 718 Chestnut Street Philadelphia Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,499,999.
What are key features of this property?
This property features: 9,555‑square‑foot mixed‑use building with three stories and a finished basement; Elevator provides service to all levels, including the basement; CMX_5 zoning supports retail, professional office, and residential conversion uses
