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    232 Market St Philadelphia, PA 19106

    For Lease
    $40 SF/Yr

    Five-story office building with restaurant potential in Old City Philadelphia.

    Property size:
    9,000 SF
    Lot size:
    0.22 Acres

    Property Features for 232 Market St

    General Information

    Size
    9,000 SF
    Lot size
    0.22 Acres

    Source: M.S. Fox Real Estate Agent Anthony Falcone

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Restored Office Building in Old City

    The five-story office building at 234 Market Street has been meticulously restored to its original grandeur. Previously occupied by the Tangerine Restaurant, the property includes an 180-seat restaurant with a capacity of 200 people and approximately 80% of the kitchen intact. The 9,000-square-foot space features exposed brick and concrete. A dining room is available for private parties. Located in the heart of Old City Philadelphia, the building is near Artisan Mobile, Inc., Timber Lane Partners, MGA Architects, Cubist Post Production, and Untra, Inc. The property can be developed into a first-floor loft-style technology space with high ceilings. Formerly a Steven Star Restaurant, the property has frontage on Market Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    allongée Physical Fitness Program Kick Axe Throwing ... Amusement Center

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.145145
    Latitude
    39.9498

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    FAQs

    What type of property is this?
    Office space - Five-story office building with restaurant potential in Old City Philadelphia.
    Where is this office space located?
    The property is located at 232 Market St Philadelphia, PA.
    What is the lease rate?
    The lease rate is $40 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in the heart of Old City Philadelphia.; - Turnkey 180-seat restaurant space (expandable to 200).; - Substantial kitchen infrastructure remains (80% intact).
    (215) 568-8000
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    232 Market St Philadelphia, PA 19106
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    Realmo Value Estimation

    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.

    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.

    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
    232 Market St Philadelphia, PA 19106
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