Mixed-Use Property with
For Sale
$8,600,000
911-913 RACE STREET, Philadelphia, PA 19107
Three-level restaurant space is paired with 12 apartments, creating a combined commercial and residential configuration.
Property Size19,054 SF
Price / SF$451.35
Days on Market66
Property Features for 911-913 RACE STREET
General Information
Standard status
Active
Size
19,054 SF
Property subtype
Commercial
Additional Details
Gross Income
$356,400
Multifamily Units
12
Building Details
Year Built
1965
Tenancy
Multi
Listing Agency:
Canaan Realty Services INC
(215) 333-1826
Listed By:
Yuhoi Lam
(267) 221-0988
Source:
Cummingsrealtors
Added: Aug 13
Changed: Oct 16
Last Checked: Oct 16 at 8:43AM
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 Canaan Realty Services INC
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Investment Insights
Based on property information with market context.
Built in 1965, this 19,054-square-foot mixed-use property combines a three-level restaurant with 12 apartments. The commercial area spans a basement kitchen, first-floor dining room, and second-floor banquet space, with private dining areas, walk-in refrigeration, preparation areas, and service equipment. The residential component includes one- and two-bedroom units with kitchens, bathrooms, and individual living areas; select apartments have city views.
The property is located at 911-913 Race Street in Philadelphia’s Chinatown, near restaurants, businesses, cultural attractions, public transportation, and Center City amenities. Its layout brings restaurant, banquet, kitchen, and apartment uses together within a single urban building.
The property is located at 911-913 Race Street in Philadelphia’s Chinatown, near restaurants, businesses, cultural attractions, public transportation, and Center City amenities. Its layout brings restaurant, banquet, kitchen, and apartment uses together within a single urban building.
Key Highlights
- 19,054‑square‑foot mixed‑use property built in 1965
- 12 apartments with a mix of one- and two‑bedroom residences
- Three‑level restaurant layout with dining, banquet, and kitchen areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$299,710
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,994,200
$6.0M
Cap Rate 7%
$4,281,571
$4.3M
Cap Rate 9%
$3,330,111
$3.3M
Market Conditions
NOI Build-Up for 19,054 SF
Gross rent
$578.5K $30.36/SF
− Vacancy
−$33.6K −$1.76/SF
EGI
$544.9K $28.60/SF
− OpEx
−$245.2K −$12.87/SF
NOI
$299.7K $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%
$5,994,200
Cap Rate 7%
$4,281,571
Cap Rate 9%
$3,330,111
Alternative Uses
Best Use
Apartment 5plus
$4.28M
$3.75M – $5.00M
NOI $299,710 @ 7.0% cap · market cap 3.49%
Second Best
Specialty Retail
$3.94M
$3.45M – $4.60M
NOI $276,092 @ 7.0% cap · market cap 3.21%
Theoretical Best
Multifamily LT 5
$4.65M
$4.06M – $5.42M
NOI $325,154 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
15,819
Businesses Nearby
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level restaurant space is paired with 12 apartments, creating a combined commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 911-913 RACE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $8,600,000.
What are key features of this property?
This property features: 19,054‑square‑foot mixed‑use property built in 1965; 12 apartments with a mix of one- and two‑bedroom residences; Three‑level restaurant layout with dining, banquet, and kitchen areas
