Open-Plan Retail
New
For Sale
Contact for pricing
8 S LETITIA STREET #104, Philadelphia, PA 19106
The space includes two bathrooms, two private offices, central air, and wood flooring.
Property Size3,000 SF
Price / SF$1.00
Days on Market3
Property Features for 8 S LETITIA STREET #104
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Zoning
c 3
Site & Location
Neighborhood
Center City
Additional Details
Floor
Ground
Amenities
open floor plan
2 baths
2 personal offices
open space
high ceiling
wood floor
central air
Building Details
Year Built
1900
Listing Agency:
GE21 Realty
(267) 534-4515
Listed By:
Xia Zhao · License #AB067107
(267) 210-8523
Source:
Cummingsrealtors
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 24 at 4:22PM
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 GE21 Realty
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Investment Insights
Based on property information with market context.
This C-3-zoned retail space offers an open floor plan with two private offices and two bathrooms. The first floor measures over 2,000 square feet, with another 1,000 square feet in the basement. High ceilings, wood flooring, and central air are existing features. The building dates to 1900.
The property is on South Letitia Street near Second Street and Market and Chestnut Streets. Subway service is described as being by the door, and Penn’s Landing parks are a short walk away.
The property is on South Letitia Street near Second Street and Market and Chestnut Streets. Subway service is described as being by the door, and Penn’s Landing parks are a short walk away.
Key Highlights
- C‑3 zoning
- Over 2,000 square feet on the first floor plus 1,000 square feet in the basement
- Open layout with two private offices and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,907
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,140
$678.1K
Cap Rate 7%
$484,386
$484.4K
Cap Rate 9%
$376,744
$376.7K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$54.0K $18.00/SF
− Vacancy
−$5.6K −$1.85/SF
EGI
$48.4K $16.15/SF
− OpEx
−$14.5K −$4.84/SF
NOI
$33.9K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,140
Cap Rate 7%
$484,386
Cap Rate 9%
$376,744
Alternative Uses
Best Use
Retail
$484.4K
$423.8K – $565.1K
NOI $33,907 @ 7.0% cap · market cap 1,130.23%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$731.4K
$639.9K – $853.3K
NOI $51,195 @ 7.0% cap · market cap 1,706.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,993
Businesses Nearby
72k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 52%
Shops & Services 23%
Groceries 17%
Dining 8%
Philadelphia Marriott Old City
Hotels & Casinos
14,972 visits/mo
0.1 miles
ACME Markets
Groceries
12,615 visits/mo
0.4 miles
Kimpton Hotel Monaco Philadelphia
Hotels & Casinos
10,769 visits/mo
0.3 miles
TD Bank
Shops & Services
6,416 visits/mo
0.5 miles
Starbucks
Dining
5,627 visits/mo
0.3 miles
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 Retail in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Retail space - The space includes two bathrooms, two private offices, central air, and wood flooring.
Where is this retail space located?
The property is located at 8 S LETITIA STREET #104 Philadelphia, PA.
What are key features of this property?
This property features: C‑3 zoning; Over 2,000 square feet on the first floor plus 1,000 square feet in the basement; Open layout with two private offices and two bathrooms
