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    The Largest CRE Database in the US with Over 1 Million Listings

    2700 S 16Th St Philadelphia, PA 19145

    Sponsored
    For Sale
    $1,700,000

    Commercial Sale - PHILADELPHIA, PA

    Type:Retail
    Lot size:
    0.01 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 26 at 9:06 pm

    Property Features for 2700 S 16Th St

    General Information

    Property type
    Other
    Property subtype
    Retail
    Standard status
    Active
    Parking features
    On Street
    Lot size
    0.01 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Building materials
    Masonry

    We can help!

    Listing Contact
    David R Lombardo
    David R Lombardo

    CENTURY 21 ADVANTAGE GOLD (215) 671-4701

    Listing agent David R Lombardo (215) 287-7599 License #RS305402

    Listing date Feb 26, 2026

    MLS# PAPH2565426

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey South Philadelphia Pizzeria Business

    This is an opportunity to acquire City Pizza, a turnkey South Philadelphia business with a history and a loyal customer base. The long time owner is looking to retire but will work with the buyer to ensure a transition. The offering includes the original location at 16th and Oregon. The flagship store at 16th and Oregon has served as a community staple, drawing foot traffic and repeat customers from the Girard Estate, Marconi, Packer Park and Point Breeze areas, as well as visitors heading to and from Philadelphia's sports complex. This property also includes a fully leased residential unit above the pizzeria, creating additional income and increased investment value. The location is turn-key and anchored in a community where City Pizza has been part of the local fabric for generations. This is an opportunity to own and continue the legacy of one of South Philadelphia's recognizable and respected names in the pizza business. The property is located in Philadelphia, PA, in the county of PHILADELPHIA. The lot size is 0.01 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    City Pizza Restaurant

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.17484283
    Latitude
    39.91707993

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    FAQs

    What type of property is this?
    Turn key restaurant - Turnkey pizzeria business with loyal customer base for sale.
    Where is this turn key restaurant located?
    The property is located at 2700 S 16Th St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: - Turnkey, legendary pizza business with two established locations in high-visibility South Philadelphia corridors.; - Decades of history with an exceptionally loyal customer base and strong community ties.; - Includes both the original location at 16th and Oregon and the second location at Front and Snyder.
    (215) 287-7599
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    2700 S 16Th St Philadelphia, PA 19145
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    Philadelphia, PA 19145
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2700 S 16Th St Philadelphia, PA 19145
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    We can help!
    Listing Contact
    David R Lombardo
    David R Lombardo
    Real Estate License ID: RS305402
    (215) 287-7599 (215) 465-1400
    Learn more
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