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24916951
24916952

990-992 N 2nd St, Philadelphia, PA 19123

MPN Realty, Inc.
Listed by MPN Realty, Inc.
$1,790,000
323 days on market
Updated 11 days ago

TWO ADJACENT MIXED-USE BUILDINGS FOR SALE ON NOLIBS CORNER

Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 4,947
Net Rentable (SqFt) 4,947
Units 6
Cap Rate 4.68%
NOI $83,768
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $362
Year Built 1920 & 2010
Buildings 2
Stories 3
Lot Size (SqFt) 2,350
Zoning CMX-2.5
Investment Type Value Add
Sale Condition For sale by owner

TWO ADJACENT MIXED-USE BUILDINGS FOR SALE

Marketing description

MPN is pleased to market for sale two contiguous buildings at the CORNER of 2nd & Wildey in Northern Liberties. These buildings are in the heart of the commercial corridor, across the street from Heirloom Market, Starbucks and The Piazza. 990 N 2nd has continuously operated as a 3 unit multifamily for decades. 992 N 2nd was built from the ground up in 2010. The property has ground floor commercial and a Wildey St entrance to the light filled apartments above. In August of 2026, the commercial tenant is coming to the end of their term with no options in place for renewal. While the tenant has indicated they would like to stay, this offers an opportunity to retenant at market rate which is substantially higher than the current lease. Alternatively, an owner operator will have an opportunity in an unmatched location for the neighborhood. Additionally, the first floor of 990 N 2nd should be converted to retail for both increased rent and conversion to a NNN format.

Investment highlights

  • Prime CORNER location!

  • Across the street from Starbucks, Heirloom Market & The Piazza.

  • Great opportunity for an investor or owner-operator.

  • Gross Building Area: 4,947 SF

  • Frontage: 30' on N 2nd, 78' on Wildey St

  • 6 units: (2) commercial, (4) 1BD/1BA

Listing Contacts

MPN Realty, Inc.
Listed by MPN Realty, Inc.

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$83,768.00
$6,980.67/mo

Valuation Metrics

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DSCR
4.68%
Cap Rate
4.68%
ROI

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