Prime Retail Building
For Sale
$9,000,000
1528 Chestnut Street, Philadelphia, PA 19102
Rare building opportunity in high-traffic Philadelphia location.
Property Size26,700 SF
Price / SF$337.08
Days on Market274
Property Features for 1528 Chestnut Street
General Information
Standard status
Active
Size
26,700 SF
Property subtype
Retail
Building Details
Building Size
26,700 SF
Year Built
1920
Listing Agency:
Metro Commercial - PA
(610) 574-4379
Listed By:
Scott Benson
(610) 574-4379
Source:
Metrocommercial
Added: Nov 21, 2025
Changed: Aug 21
Last Checked: Aug 22 at 3:49AM
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 Metro Commercial - PA
Investment Insights
Based on property information with market context.
This property presents a rare building opportunity situated at 1528 Chestnut Street, Philadelphia, PA 19102. The property, with a size of 26700 square feet, is positioned at the corner of 16th & Chestnut, an area noted for having the highest pedestrian counts in the city. Recent activity in the area includes deals with JD Sports and Wonder, reactivating the corner.
Key Highlights
- Rare building opportunity
- Located at 16th & Chestnut
- Highest pedestrian counts in the city
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$301,769
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,035,380
$6.0M
Cap Rate 7%
$4,310,986
$4.3M
Cap Rate 9%
$3,352,989
$3.4M
Market Conditions
NOI Build-Up for 26,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$480.6K $18.00/SF
− Vacancy
−$49.5K −$1.85/SF
EGI
$431.1K $16.15/SF
− OpEx
−$129.3K −$4.84/SF
NOI
$301.8K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,035,380
Cap Rate 7%
$4,310,986
Cap Rate 9%
$3,352,989
Alternative Uses
Best Use
Retail
$4.31M
$3.77M – $5.03M
NOI $301,769 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.51M
$5.70M – $7.59M
NOI $455,633 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26,467
Businesses Nearby
311k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Hotels & Casinos 26%
Apparel 22%
Shops & Services 11%
The Ritz-Carlton, Philadelphia
Hotels & Casinos
30,824 visits/mo
0.1 miles
Starbucks
Dining
22,463 visits/mo
0.2 miles
UNIQLO
Apparel
20,066 visits/mo
0.1 miles
The Logan Philadelphia, Curio Collection By Hilton
Hotels & Casinos
19,294 visits/mo
0.5 miles
Starbucks
Dining
16,511 visits/mo
0.3 miles
Demographics for 19102, PA
7,568
Population
4,606
Households
1.6
Avg Household Size
32
Median Age
87%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
37,840
Density / Sq Mi
$114,844
Median Household Income
$79,552
Median Earnings
$2,249
Median Rent
$412,200
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Holland & Stokes — 620 S 6th St, Philadelphia, PA 19147
- JMJ shadowbox occasion design — philadelphia, pa 19146
- Underground Florals Not a walk-in bouquet florist. Custom orders only, allow a minimum of two days. — 618 Bainbridge St, Philadelphia, PA 19147
- Cactaceae — 622 pemberton st, philadelphia, pa 19147
- Cedrone's Flowers — 800 Lombard St, Philadelphia, PA 19147
Frequently Asked Questions
What type of property is this?
Storefront property - Rare building opportunity in high-traffic Philadelphia location.
Where is this storefront property located?
The property is located at 1528 Chestnut Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: Rare building opportunity; Located at 16th & Chestnut; Highest pedestrian counts in the city
