521 South StPhiladelphia, PA 19147

This fee-simple, mixed-use property at 521 South St, Philadelphia, PA 19147, presents a compelling investment opportunity. The 2,475 square foot building, constructed in 1900, features a three-story structure on an 825 square foot lot, zoned CMX3. Currently operating at 100% occupancy with four tenants, the property boasts a stabilized NOI of $5,750, with a pro-forma NOI projected at $69,000. The current lease structure includes a 10-year NNN lease (commencing April 1, 2020, expiring April 1, 2030) with a corporate guarantee for the commercial tenant, currently in its 9th year. The commercial space generates $3,500 per month in rent, with the tenant covering 50% of building expenses. The upper floors comprise three residential units: a second-floor unit renting for $1,250 per month (licensed for a palm reading business, requiring renovation) and a third-floor unit renting for $1,000 per month (a three-bedroom unit needing renovation). The property offers significant value-add potential through renovations to the residential units. The asking price is $1,100,000, representing a current cap rate of 0.52% and a pro-forma cap rate of 6.27%. The property includes 50 square feet of air rights. This triplex offers a blend of stable income and substantial upside potential in a prime Philadelphia location.