Three-Story Triplex with Mixed-Use
For Sale
$400,000
836 CHRISTIAN STREET, Philadelphia, PA 19147
CMX-2 zoning supports a three-story layout with commercial space potential at street level and apartments above.
Property Size2,016 SF
Days on Market15
Property Features for 836 CHRISTIAN STREET
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Triplex
Zoning
CMX-2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,783
Building Details
Building Size
2,016 SF
Year Built
1915
Buildings
1
Stories
3
Listing Agency:
Target Realty
(215) 218-0939
Listed By:
Shengfei Lin · License #RS330620
(215) 218-0939
Source:
Patmckennarealtors
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 30 at 9:41PM
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 Target Realty
Investment Insights
Based on property information with market context.
This 1915 three-story triplex is configured with one one-bedroom apartment on each floor. The ground-level unit includes a front living area, kitchen, rear bedroom, full bathroom, and access to the side and rear yards. The upper apartments place the kitchen and living room on one side of the central stair and the bedroom and full bathroom on the other. The first floor was previously used as a commercial storefront and retains a front area that may be considered for commercial use, subject to verification.
The property is zoned CMX-2 and is located near the Italian Market. A basement with direct street access provides loading and storage space, along with three gas meters, three electric meters, and one heating system serving the building. The owner currently holds one rental license. The sale is in present condition, and the buyer must independently confirm zoning, permitted uses, licensing, unit count, and occupancy requirements with the City of Philadelphia.
The property is zoned CMX-2 and is located near the Italian Market. A basement with direct street access provides loading and storage space, along with three gas meters, three electric meters, and one heating system serving the building. The owner currently holds one rental license. The sale is in present condition, and the buyer must independently confirm zoning, permitted uses, licensing, unit count, and occupancy requirements with the City of Philadelphia.
Key Highlights
- CMX‑2‑zoned three‑story triplex near the Italian Market
- One one‑bedroom apartment arranged on each floor
- First floor previously operated as a commercial storefront
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
$34,403
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
8.60%
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%
$688,060
$688.1K
Cap Rate 7%
$491,471
$491.5K
Cap Rate 9%
$382,256
$382.3K
Market Conditions
NOI Build-Up for 2,016 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
$52.0K $25.80/SF
− Vacancy
−$2.9K −$1.42/SF
EGI
$49.1K $24.38/SF
− OpEx
−$14.7K −$7.31/SF
NOI
$34.4K $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 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%
$688,060
Cap Rate 7%
$491,471
Cap Rate 9%
$382,256
Alternative Uses
Best Use
Multifamily LT 5
$491.5K
$430.0K – $573.4K
NOI $34,403 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$453.0K
$396.4K – $528.5K
NOI $31,711 @ 7.0% cap · market cap 7.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - CMX-2 zoning supports a three-story layout with commercial space potential at street level and apartments above.
Where is this triplex located?
The property is located at 836 CHRISTIAN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: CMX‑2‑zoned three‑story triplex near the Italian Market; One one‑bedroom apartment arranged on each floor; First floor previously operated as a commercial storefront
