Mixed-Use Bar and Restaurant
For Sale
$2,930,000
1123 Walnut St, Philadelphia, PA 19107
Bar and restaurant operations on the first two floors with a full bar on each level and rear kitchen.
Property Size6,776 SF
Days on Market95
Property Features for 1123 Walnut St
General Information
Standard status
Active
Size
6,776 SF
Property subtype
Mixed-Use Development & Restaurant
Site & Location
Neighborhood
Center City
Building Details
Building Size
6,776 SF
Year Built
1900
Listing Agency:
Mallin Panchelli Nadel Realty Inc
Listed By:
Veronica Blum · License #RS290724
(267) 238-1728
Source:
Mpnrealty
Added: Jul 23
Changed: Oct 13
Last Checked: Oct 24 at 3:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mallin Panchelli Nadel Realty Inc
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Investment Insights
Based on property information with market context.
1123 Walnut Street is a mixed-use property currently operating primarily as a bar/restaurant on the first and second floors. The building includes a full bar on each level, with a kitchen located in the rear of the first floor. Upstairs also features a mix of raw and office space. Included in the sale are all furniture, fixtures, and equipment of the restaurant, along with the in-place “R” liquor license.
The property offers 22 feet of frontage on Walnut Street and is described as having outdoor seating. It also runs through to Moravian Street, providing a direct route for delivery and trash pick-up. The building is located on the border of Washington Square West and Midtown Village and is surrounded by Jefferson Hospital, with daytime office workers and a growing residential population contributing to heavy street activity.
Zoned CMX-5, the property allows multiple uses with residential above, supporting redevelopment and flexible use scenarios consistent with the existing mixed-use configuration.
The property offers 22 feet of frontage on Walnut Street and is described as having outdoor seating. It also runs through to Moravian Street, providing a direct route for delivery and trash pick-up. The building is located on the border of Washington Square West and Midtown Village and is surrounded by Jefferson Hospital, with daytime office workers and a growing residential population contributing to heavy street activity.
Zoned CMX-5, the property allows multiple uses with residential above, supporting redevelopment and flexible use scenarios consistent with the existing mixed-use configuration.
Key Highlights
- Mixed‑use building built in 1900 with bar/restaurant operations on the first two floors
- 22 feet of frontage on Walnut Street with outdoor seating
- Full bar on both the first and second floors, plus a kitchen in the rear of the first floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,184
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,963,680
$2.0M
Cap Rate 7%
$1,402,629
$1.4M
Cap Rate 9%
$1,090,933
$1.1M
Market Conditions
NOI Build-Up for 6,776 SF
Gross rent
$142.3K $21.00/SF
− Vacancy
−$11.4K −$1.68/SF
EGI
$130.9K $19.32/SF
− OpEx
−$32.7K −$4.83/SF
NOI
$98.2K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,963,680
Cap Rate 7%
$1,402,629
Cap Rate 9%
$1,090,933
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.23M – $1.64M
NOI $98,184 @ 7.0% cap · market cap 3.35%
Second Best
Office B
$1.27M
$1.11M – $1.49M
NOI $89,169 @ 7.0% cap · market cap 3.04%
Theoretical Best
Multifamily LT 5
$1.65M
$1.45M – $1.93M
NOI $115,632 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
25,174
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Market
Vacancy Rate% for Office in Philadelphia, PA
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- Fitz on 4th — 743 S 4th St, Philadelphia, PA 19147
- Red Dog Music — 1845 Christian St, Philadelphia, PA 19146
Frequently Asked Questions
What type of property is this?
Bar & Pub - Bar and restaurant operations on the first two floors with a full bar on each level and rear kitchen.
Where is this bar & pub located?
The property is located at 1123 Walnut St Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,930,000.
What are key features of this property?
This property features: Mixed‑use building built in 1900 with bar/restaurant operations on the first two floors; 22 feet of frontage on Walnut Street with outdoor seating; Full bar on both the first and second floors, plus a kitchen in the rear of the first floor
