Mixed-Use Property with
New
For Sale
$1,790,000
990-92 N 2nd Street, Philadelphia, PA 19123
Ground-floor commercial space is paired with apartments above and a separate three-unit multifamily property.
Property Size4,947 SF
Price / SF$361.84
Days on Market2
Property Features for 990-92 N 2nd Street
General Information
Standard status
Active
Size
4,947 SF
Zoning
CMX2.5
Site & Location
Neighborhood
North Philadelphia
Mixed-Use Components
retail, residential
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$8,639
Amenities
Natural Gas,Electric
Yes
Natural Gas
3
Corner
Public
U50
15.00 x 78.00
0.05
No
Estimated
4947.00
123440.00
Assessor
15
Building Details
Building Size
4,947 SF
Year Built
1920
Buildings
2
Stories
3
Listing Agency:
Mallin Panchelli Nadel Realty Inc
(215) 413-4900
Listed By:
Veronica Gintel Blum · License #RS290724
(267) 238-1728
Source:
Moveritenow
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 6 at 1:41AM
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 Mallin Panchelli Nadel Realty Inc
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Investment Insights
Based on property information with market context.
The offering combines two properties at 990–992 N 2nd Street, with a total reported size of 4,947 square feet. The 992 N 2nd Street building was constructed in 2010 and has ground-floor commercial space with apartments above, accessed from Wildey Street. The 990 N 2nd Street property has operated as a three-unit multifamily building for decades; its year built is listed as 1920.
The properties occupy a corner on N 2nd Street, directly opposite the Piazza. Both are in Philadelphia and zoned CMX2.5. The commercial tenant’s term is scheduled to end in August 2026, with no renewal options in place; the tenant has expressed interest in remaining.
The properties occupy a corner on N 2nd Street, directly opposite the Piazza. Both are in Philadelphia and zoned CMX2.5. The commercial tenant’s term is scheduled to end in August 2026, with no renewal options in place; the tenant has expressed interest in remaining.
Key Highlights
- Two‑property offering totals 4,947 square feet
- 992 N 2nd Street was built in 2010; 990 N 2nd Street is listed as built in 1920
- Ground‑floor commercial space with apartments above and a Wildey Street apartment entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,420
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,688,400
$1.7M
Cap Rate 7%
$1,206,000
$1.2M
Cap Rate 9%
$938,000
$938.0K
Market Conditions
NOI Build-Up for 4,947 SF
Gross rent
$127.6K $25.80/SF
− Vacancy
−$7.0K −$1.42/SF
EGI
$120.6K $24.38/SF
− OpEx
−$36.2K −$7.31/SF
NOI
$84.4K $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%
$1,688,400
Cap Rate 7%
$1,206,000
Cap Rate 9%
$938,000
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,420 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$1.11M
$972.7K – $1.30M
NOI $77,814 @ 7.0% cap · market cap 4.35%
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
3,326
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 Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with apartments above and a separate three-unit multifamily property.
Where is this mixed-use property located?
The property is located at 990-92 N 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Two‑property offering totals 4,947 square feet; 992 N 2nd Street was built in 2010; 990 N 2nd Street is listed as built in 1920; Ground‑floor commercial space with apartments above and a Wildey Street apartment entrance
