SCOPE Commercial Real Estate Services Sells Mixed-use Property At 601 N 2nd Street In Philadelphia For $6.9M
601 North 2nd Street
$6,900,000
$278/SF
Building Size
24,781 SF
Asset Type
Mixed-use
Closing
Oct 31, 2022
AI
The mixed-use property located at 601 N 2nd Street in Philadelphia, PA has been sold for a price of $6,900,000. The property spans a total area of 24,781 square feet, resulting in a price per square foot of $278. The transaction was facilitated by Phil Sharrow, Craig Thom, and Saam Tashayyod of SCOPE Commercial Real Estate Services.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $6,900,000
- SF: 24,781
- PPSF: $278
- PPU: $492,000
- Brokers: Phil Sharrow, Craig Thom & Saam Tashayyod - SCOPE Commercial Real Estate Services
The involvement of Phil Sharrow, Craig Thom, and Saam Tashayyod from SCOPE Commercial Real Estate Services played a crucial role in facilitating the transaction. Their expertise in the Philadelphia market and extensive experience in dealing with mixed-use properties contributed to the successful sale of 601 N 2nd Street.
Players
Philadelphia Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93