Mixed-Use Income Property with NNN
PHILADELPHIA, PA 19125 Philadelphia, PA 19125
Philadelphia, PA, 19125
$749,000
For Sale
Under Contract
$749,000
MULTI_FAMILY - PHILADELPHIA, PA
Property Size3,609 SF
Price / SF$207.54
Days on Market127
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Standard status
- Active Under Contract
- Size
- 3,609 SF
Building Details
- Year built
- 1875
Listing Agency
BHHS Fox & Roach At the Harper Rittenhouse Square
(215) 546-0550
PA
Listed by
Marc Hammarberg
(215) 790-5501
Added: Mar 12 Checked: Jul 16 at 6:06 pm
MLS# PAPH2593588
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use income property features a commercial space on the first floor and two full-floor loft-style apartments on the second and third levels. The first-floor commercial facade and interior were renovated in 2019, with updates including new commercial windows and doors, new water and electrical service, an ADA-compliant entrance ramp and customer bathroom, and new HVAC, kitchen, and retail-area finishes. The second and third floors offer hardwood floors, in-unit laundry, central air, modern kitchens and baths, and large windows.
The building has a large 28' x 75' footprint and is described as having CMX2 mixed-use zoning. The commercial space is occupied by Casa Borinquea Restaurant under a NNN lease through 2030, with a tenant option to renew through 2035 and 3% yearly increases included in the lease.
The two loft-style apartments have a strong rental history and are leased through September 2026 for Unit 2 and December 2026 for Unit 3.
The building has a large 28' x 75' footprint and is described as having CMX2 mixed-use zoning. The commercial space is occupied by Casa Borinquea Restaurant under a NNN lease through 2030, with a tenant option to renew through 2035 and 3% yearly increases included in the lease.
The two loft-style apartments have a strong rental history and are leased through September 2026 for Unit 2 and December 2026 for Unit 3.
Key Highlights
- Mixed‑use CMX2 property built in 1875 with a 28' x 75' footprint along Frankford Ave’s Business Corridor
- Fully renovated first‑floor commercial space (2019) with new commercial windows/doors, ADA ramp entrance, and customer bathroom
- NNN restaurant lease with Casa Borinquea through 2030, tenant option to renew through 2035, plus 3% yearly increases
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.1k | $25.80 |
| − Vacancy | −$5.1k | −$1.42 |
| EGI | $88.0k | $24.38 |
| − OpEx | −$26.4k | −$7.31 |
| NOI | $61.6k | $17.06 |
3,609 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$879.8K
$769.8K – $1.03M
NOI $61,587 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$811.0K
$709.6K – $946.1K
NOI $56,768 @ 7.0% cap · market cap 7.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated first-floor retail with an active NNN lease, plus two loft-style apartments leased through 2026.
Where is this duplex located?
The property is located at Philadelphia, PA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Mixed‑use CMX2 property built in 1875 with a 28' x 75' footprint along Frankford Ave’s Business Corridor; Fully renovated first‑floor commercial space (2019) with new commercial windows/doors, ADA ramp entrance, and customer bathroom; NNN restaurant lease with Casa Borinquea through 2030, tenant option to renew through 2035, plus 3% yearly increases
