Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Loft District Commercial Condo Title is generated by Realmo AI

    428 N 13TH STREET 1A, Philadelphia, PA 19123

    View on Map
    Claim this Listing
    For Lease
    $3,500/Mo $23 SF/Yr (calc)

    Commercial condo in high-traffic area, ready for new identity.

    Type:Rental
    Property size:
    1,800 SF
    Added:
    Mar 4, 2025
    Days on Market:
    457
    Last Refresh:
    May 19 at 10:38 pm

    Property Features for 428 N 13TH STREET 1A

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Property subtype
    Rental

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Nella Genovese
    Nella Genovese

    Listing agent Nella Genovese License #RS225934L

    Listing office MGC Real Estate Group

    Listing date Mar 4, 2025

    Source Exitrealty

    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 MGC Real Estate Group

    HighLights

    • Ground level commercial condo in high‑traffic Loft District/Callowhill location.
    • Located in the Hat Factory building.
    • Formerly a cafe, suitable for food service or other retail.
    • Surrounded by condos and rentals.
    • Approximately 1800 SF.
    • Available for lease along N. 13th Street.

    Overview

    This commercial condo is located on the ground level of the 428 N 13th Street Condos in the Loft District/Callowhill Neighborhood, situated along the corridor of N. 13th Street. The surrounding area features numerous condos and rentals, contributing to the high traffic on the street. The space, formerly a cafe serving breakfast and lunch, is approximately 1800 square feet. It is located at the ground level of the Hat Factory and is available for lease. The space is ready for a new identity along N. 13th St. The intended use of the property is for commercial purposes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Town Food Market Grocery & Convenience Store Pushnik Photography (Bike/Boat/Book/etc) Store Morihata International Ltd. ... Big Box & Wholesale Store ATM Atm Bathroom Cabinets Philadelphia Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Hair Salon Dental Office Nail Salon Building Supply Daycare Center Kitchen & Bath Showroom Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.159873
    Latitude
    39.960508

    Nearby Similar for Lease

    • $4,500/Mo
      4,000 SF

      Queen Village Boutique Commercial Property

      Distinctive 4,000 sqft commercial space in the heart of Queen Village.
      610 S 2ND Street, PHILADELPHIA, PA 19147
      View Details
    • $7,000/Mo
      2,500 SF

      Restaurant Space in Midtown Village

      Equipped restaurant space with liquor license in vibrant Midtown Village.
      1305 LOCUST Street, PHILADELPHIA, PA 19107
      View Details
    • $5,500/Mo
      1,350 SF

      Restaurant Space in Northern Liberties

      Fully equipped restaurant space in Philadelphia's vibrant Northern Liberties.
      301 SPRING GARDEN STREET, PHILADELPHIA, PA 19123
      View Details
    • $11,192/Mo
      11,192 SF

      Philadelphia Commercial Building For Lease

      11,192 SF building in Port Richmond with flexible layout.
      2814-18 E ALLEGHENY Avenue, PHILADELPHIA, PA 19134
      View Details
    • $3,500/Mo
      2,000 SF

      Restaurant/Bar Space with Parking

      2,000 SF restaurant/bar with parking and outdoor space.
      4742 RICHMOND Street, PHILADELPHIA, PA 19137
      View Details
    • $3,850/Mo

      Turnkey Medical Clinic in Philadelphia

      Fully built-out medical clinic available for lease in Northeast Philadelphia.
      7131 RISING SUN Avenue, PHILADELPHIA, PA 19111
      View Details
    • $6,000/Mo

      Turn-Key Restaurant Opportunity in Philadelphia

      Restaurant space for lease near Temple University with modern design.
      1000 DIAMOND Street, PHILADELPHIA, PA 19122
      View Details
    • $2,500/Mo

      Modern Commercial Space in Philadelphia

      Dynamic commercial property in Philadelphia's Logan neighborhood for rent.
      1323 LINDLEY Avenue, PHILADELPHIA, PA 19141
      View Details
    • $2,650/Mo

      Fishtown Retail Space Available

      Ground floor retail space in Philadelphia's Fishtown neighborhood.
      206 E GIRARD Avenue, PHILADELPHIA, PA 19125
      View Details
    • $1,350/Mo

      Professional Office Space Available

      Well-maintained office space in a convenient Philadelphia location.
      10065-67 SANDMEYER Lane, PHILADELPHIA, PA 19116
      View Details
    • $2,500/Mo

      Turn-Key Cafe Space in Philadelphia

      Turn-key cafe space in luxury apartment building in Old City.
      416 VINE Street, PHILADELPHIA, PA 19106
      View Details
    • $4,500/Mo

      Prime Commercial Building on Broad

      Two-story commercial building on Broad Street available for lease.
      2520-22 N BROAD Street, PHILADELPHIA, PA 19132
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial condo in high-traffic area, ready for new identity.
    Where is this retail space located?
    The property is located at 428 N 13TH STREET 1A Philadelphia, PA.
    What is the lease rate?
    The lease rate is $3,500 /Mo.
    What are key features of this property?
    This property features: Ground level commercial condo in high‑traffic Loft District/Callowhill location.; Located in the Hat Factory building.; Formerly a cafe, suitable for food service or other retail.
    (215) 771-7100
    We can help!
    Listing Contact
    Nella Genovese
    Nella Genovese
    Real Estate License ID: RS225934L
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    428 N 13TH STREET 1A, PHILADELPHIA, PA 19123
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!