New Mixed-Use Multifamily
For Sale
Contact for pricing
838 North Broad Street, Philadelphia, PA 19130
Newly built building combines apartments with occupied ground-floor commercial space.
Property Size39,330 SF
Price / SF$330.54
Days on Market53
Property Features for 838 North Broad Street
General Information
Standard status
Active
Size
39,330 SF
Class
B
Total Parking Spaces
11
Property subtype
Retail, Multifamily
Zoning
CMX-4
Units
Unit Mix
1 x studio, 13 x 1BR, 14 x 2BR, 5 x 3BR
Multifamily Units
33
Additional Details
Gross Income
$69,600
Public Transit
Yes
Building Details
Year Built
2023
Buildings
1
Units
35
Tenancy
Multi
Listed By:
Christopher Farmer · License #RS331174
Source:
Crexi
Added: Aug 31
Changed: Oct 18
Last Checked: Oct 20 at 6:07PM
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 Christopher Farmer
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Investment Insights
Based on property information with market context.
Completed in 2023, this 39,330-square-foot mixed-use property includes 33 apartment units and two ground-floor commercial spaces. The residential inventory comprises one studio, 13 one-bedroom units, 14 two-bedroom units, and five three-bedroom units. Apartment occupancy is 32 of 33 units, while both commercial spaces are occupied. Zoning is CMX-4.
The property occupies a North Broad Street location in Philadelphia, north of Center City. Residents have access to SEPTA’s Broad Street Line and multiple bus routes, with nearby restaurants, retailers, grocery stores, entertainment venues, universities, healthcare institutions, and employment centers. The surrounding corridor also includes ongoing residential and commercial development.
The property occupies a North Broad Street location in Philadelphia, north of Center City. Residents have access to SEPTA’s Broad Street Line and multiple bus routes, with nearby restaurants, retailers, grocery stores, entertainment venues, universities, healthcare institutions, and employment centers. The surrounding corridor also includes ongoing residential and commercial development.
Key Highlights
- 33 apartment units with a mix of studio, one-, two-, and three‑bedroom layouts
- Two occupied ground‑floor commercial spaces
- 32 of 33 apartment units currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$618,642
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,372,840
$12.4M
Cap Rate 7%
$8,837,743
$8.8M
Cap Rate 9%
$6,873,800
$6.9M
Market Conditions
NOI Build-Up for 39,330 SF
Gross rent
$1.19M $30.36/SF
− Vacancy
−$69.3K −$1.76/SF
EGI
$1.12M $28.60/SF
− OpEx
−$506.2K −$12.87/SF
NOI
$618.6K $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 Rate 5%
$12,372,840
Cap Rate 7%
$8,837,743
Cap Rate 9%
$6,873,800
Alternative Uses
Best Use
Apartment 5plus
$8.84M
$7.73M – $10.31M
NOI $618,642 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$6.67M
$5.84M – $7.79M
NOI $467,240 @ 7.0% cap · market cap 3.59%
Theoretical Best
Multifamily LT 5
$9.59M
$8.39M – $11.19M
NOI $671,162 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
33
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Newly built building combines apartments with occupied ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 838 North Broad Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $13,000,000.
What are key features of this property?
This property features: 33 apartment units with a mix of studio, one-, two-, and three‑bedroom layouts; Two occupied ground‑floor commercial spaces; 32 of 33 apartment units currently occupied
