Mixed-Use Property with
For Sale
$8,600,000
911 911-913 Race St, Philadelphia, PA 19107
Three-level dining and banquet operation occupies the commercial portion, with apartments arranged on the upper floors.
Property Size19,054 SF
Price / SF$451.35
Days on Market60
Property Features for 911 911-913 Race St
General Information
Standard status
Active
Size
19,054 SF
Additional Details
Gross Income
$356,400
Public Transit
Yes
Multifamily Units
12
Building Details
Year Built
1965
Listing Agency:
Canaan Realty Services INC
Listed By:
Yuhoi Lam
(215) 333-1826
Source:
Bethsamberg
Added: Aug 24
Changed: Oct 2
Last Checked: Oct 7 at 5:19PM
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.
This mixed-use property at 911–913 Race Street combines a three-level restaurant operation with 12 residential apartments. The commercial component includes a basement kitchen, first-floor dining hall, and second-floor banquet facilities, along with private dining areas, walk-in refrigeration, preparation areas, and service equipment. The property contains 19,054 square feet and was built in 1965.
The apartments include one- and two-bedroom layouts with kitchens, bathrooms, and individual living areas. Select residences offer city views. The property is situated in Philadelphia’s Chinatown, near restaurants, businesses, cultural attractions, public transportation, and Center City amenities.
The apartments include one- and two-bedroom layouts with kitchens, bathrooms, and individual living areas. Select residences offer city views. The property is situated in Philadelphia’s Chinatown, near restaurants, businesses, cultural attractions, public transportation, and Center City amenities.
Key Highlights
- 19,054‑square‑foot mixed‑use property at 911–913 Race Street
- Three‑level restaurant operation with basement kitchen, dining hall, and banquet facilities
- 12 residential apartments above the commercial space
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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Current Use
Lease Details
12
Residential units
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level dining and banquet operation occupies the commercial portion, with apartments arranged on the upper floors.
Where is this mixed-use property located?
The property is located at 911 911-913 Race St 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 at 911–913 Race Street; Three‑level restaurant operation with basement kitchen, dining hall, and banquet facilities; 12 residential apartments above the commercial space
