Property Description
An 8% cap rate at asking price. That's the headline, and the building delivers it.
This 8,656 sq ft mixed-use asset sits at one of North Philadelphia's highest-visibility corners: Broad Street and Old York Road, steps from the expanding Temple University Hospital campus. The building generates over $10,000 per month in gross income across a ground-floor commercial tenant and multiple residential units, producing an annual income stream in excess of $120,000 against a list price of $895,000.
Built in 1942 and zoned CMX-2, the property features separate entrances for the residential units, efficient floor layouts and all units occupied. Two units are long standing and below market rents. The ground-floor commercial space is anchored by a daycare center with deep community ties, offering the kind of operational stability that institutional owners pay premiums for.
The location punches above its basis. Rising Sun Avenue is a primary commercial corridor with consistent foot traffic, bus service, and direct access to Broad Street and Roosevelt Boulevard. The Temple Hospital campus continues its northward expansion, and the surrounding neighborhood is on the radar of both regional developers and QOZ investors. This census tract carries a federal Qualified Opportunity Zone designation, active through December 2028, with OZ 2.0 redesignation proceedings currently underway in Pennsylvania.
At $109/sq ft and a verified 8% cap, this is a straightforward income play with a defensible basis and multiple value levers still available.
Property Details 1234 RISING SUN AVENUE, PHILADELPHIA, PA 19140
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