Mixed-Use Property with Residential
923 SPRING GARDEN Street, Philadelphia, PA 19123
For Sale
$779,000
Multi-Family, PHILADELPHIA, PA
Property Size2,836 SF
Lot Size0.02 Acres
Price / SF$274.68
Days on Market97
Property Features for 923 SPRING GARDEN Street
General Information
Property type
Property subtype
Parking features
Subdivision
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Number of units
Building materials
Listing Agency:
Mercury Real Estate Group
(215) 462-5100
Listed By:
Michael J Moss · License PA RS286764
(215) 416-3980
Added: Aug 6
Changed: Aug 19
Last Checked: Nov 10 at 8:06PM
MLS# PAPH2656968
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located at 923 Spring Garden Street in Philadelphia, this 1920 masonry mixed-use building contains 2,836 square feet across three stories. The first floor is configured as commercial space, while the second and third floors form a residential unit with four bedrooms, two full bathrooms, and two full kitchens. The arrangement creates distinct commercial and residential areas within one building and supports live-work or income-producing use as described for the property.
The property is positioned near the Broad-Spring Garden subway station, public transit, dining, and neighborhood amenities. On-street parking is available, and the site encompasses 0.0219 acres in Philadelphia’s 19123 ZIP code.
The property is positioned near the Broad-Spring Garden subway station, public transit, dining, and neighborhood amenities. On-street parking is available, and the site encompasses 0.0219 acres in Philadelphia’s 19123 ZIP code.
Key Highlights
- 2,836‑square‑foot, three‑story mixed‑use building
- Ground‑floor commercial area with residential unit above
- Upper residence includes 4 bedrooms, 2 full bathrooms, and 2 full kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,396
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,920
$967.9K
Cap Rate 7%
$691,371
$691.4K
Cap Rate 9%
$537,733
$537.7K
Market Conditions
NOI Build-Up for 2,836 SF
Gross rent
$73.2K $25.80/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$69.1K $24.38/SF
− OpEx
−$20.7K −$7.31/SF
NOI
$48.4K $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 Rate 5%
$967,920
Cap Rate 7%
$691,371
Cap Rate 9%
$537,733
Alternative Uses
Best Use
Multifamily LT 5
$691.4K
$605.0K – $806.6K
NOI $48,396 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$637.3K
$557.6K – $743.5K
NOI $44,609 @ 7.0% cap · market cap 5.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,087
Businesses Nearby
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Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Philadelphia, PA
Properties on Market for Mixed-use properties in Philadelphia
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story masonry building combining ground-floor commercial space with an upper-level residential layout.
Where is this mixed-use property located?
The property is located at 923 SPRING GARDEN Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: 2,836‑square‑foot, three‑story mixed‑use building; Ground‑floor commercial area with residential unit above; Upper residence includes 4 bedrooms, 2 full bathrooms, and 2 full kitchens
