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Mixed Use Mutli Tenant Building

$2,600,000

2301 North Broad St, Philadelphia, PA 19132

Active
Last Updated: 11/03/2022

6.38

Cap Rate

165,900

NOI

Details:
Cap Rate:    6.38%
NOI:    $165,900
Building Size:    14,600 sqft
Lot Area:    0.155 acres
Class:    C
Description:

2301-03 N. Broad St. (12 Apts., 2 office/retail spaces, 2 garages) Just 2 blocks from Temple's Main Campus. This is a 100% occupied asset. The building was rehabbed in 2006-2007, has been well maintained since, and is in great shape. 8 two bedroom apts., 4 one bedroom apts., 2907 sq.ft. of 1st floor commercial (rented to a long term credit tenant); one basement commercial space, plus 2 large contractor's garages; The building has been 100% occupied at all times during the past 13 years. Plus additional income potential - another commercial space could easily be added to the basement. Up to 3-5 more apartments can be added to rear of property. (i.e. instead of the garages). The building features: separately metered utilities for all apts, & the 2 commercial spaces; main lobby w/mailboxes and a 4 stop elevator; front and rear stairwells; fire sprinkler system t/o; centrally monitored smoke & fire alarm system; fully wired for phone, internet & cable TV; a surveillance camera system; plus 3 coin-laundry Building is already fully leased for the 2019-2020 school year. All leases and security deposits will be transfer to buyer at closing. Main commercial space is on a triple net lease at $18.60 per foot, plus 25% of building CAM. Domain name and website to be transferred to buyer at closing. Seller can provide buyer with Phase 1 environmental from approx 2006.


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Today's Available Mortgage Rates

8000 Tennessee 100, Nashville, Tennessee 37221

Choose Your Priority
 
Interest Rate
Mo. Payments
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default.
Loan Amount
Rates as of 06/06/2025
BankLender #1049
5 Year Fixed
25 Year Amortization
Interest rate 6.04% 5 Year Fixed
Mo. Payment$14,321 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 61% LTV $0 Lender fees
Loan Amount $2,214,300 Loan Amount
BankLender #1459
7 Year Fixed
25 Year Amortization
Interest rate 6.07% 7 Year Fixed
Mo. Payment$15,068 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 64% LTV $0 Lender fees
Loan Amount $2,323,200 Loan Amount
BankLender #1459
10 Year Fixed
25 Year Amortization
Interest rate 6.07% 10 Year Fixed
Mo. Payment$15,068 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 64% LTV $0 Lender fees
Loan Amount $2,323,200 Loan Amount
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