Restaurant and Residences
For Sale
$4,800,000
1247-53 N Front Street Philadelphia, Philadelphia, PA 19122
Turn-key restaurant plus four leased residential units and PA R liquor license for immediate operations.
Property Size15,000 SF
Price / SF$320
Days on Market61
Property Features for 1247-53 N Front Street Philadelphia
General Information
Standard status
Active
Size
15,000 SF
Zoning
CMX3
Additional Details
Business Included
Yes
Liquor License
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,174
Amenities
Electric
No
Public
Y50
80x100
0.06
Assessor
15000.00
213560.00
Estimated
Building Details
Year Built
1915
Listing Agency:
MSC Retail, Inc.
(866) 825-7169
Listed By:
Casey Rizer · License #RS306451
(866) 825-7169
Source:
Va.exprealty
Added: Jul 1
Changed: Aug 28
Last Checked: Aug 29 at 7:12AM
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 MSC Retail, Inc.
Investment Insights
Based on property information with market context.
1247-53 N. Front Street is a fee-simple, fully turn-key mixed-use offering that includes the operating Front Street Cafe business, a Pennsylvania R liquor license, and all furniture, fixtures, and equipment (FF&E) necessary for day-one operations. The restaurant occupies three floors, with an expansive ground-floor dining room and bar and a second-floor event and dining level. An outdoor space is included for al fresco dining, private events, and outdoor bar service, providing an on-site amenity for guest experience.
The property also includes four fully leased residential units. These residences are part of the same ownership and are currently grossing $95,400 per year in annual revenue, creating a blended income stream alongside the restaurant operations.
For owner-operators and investors seeking a property that can run day-one as a combined hospitality and rental operation, this build provides both an in-place restaurant footprint and multiple residential tenants under one roof. The inclusion of the liquor license and FF&E reduces start-up friction, while the restaurant’s multi-level layout and dedicated outdoor area support a range of dining and event-style usage.
The property also includes four fully leased residential units. These residences are part of the same ownership and are currently grossing $95,400 per year in annual revenue, creating a blended income stream alongside the restaurant operations.
For owner-operators and investors seeking a property that can run day-one as a combined hospitality and rental operation, this build provides both an in-place restaurant footprint and multiple residential tenants under one roof. The inclusion of the liquor license and FF&E reduces start-up friction, while the restaurant’s multi-level layout and dedicated outdoor area support a range of dining and event-style usage.
Key Highlights
- Mixed‑use property with Front Street Cafe, four fully leased residential units, and fee‑simple real estate included
- Front Street Cafe spans three floors plus outdoor space for al fresco dining, private events, and warm‑weather bar service
- Sale includes a Pennsylvania R liquor license and all FF&E for day‑one operations, including kitchen equipment, bar fixtures, furniture, and point‑of‑sale systems
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
$255,973
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
5.33%
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%
$5,119,460
$5.1M
Cap Rate 7%
$3,656,757
$3.7M
Cap Rate 9%
$2,844,144
$2.8M
Market Conditions
NOI Build-Up for 15,000 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
$387.0K $25.80/SF
− Vacancy
−$21.3K −$1.42/SF
EGI
$365.7K $24.38/SF
− OpEx
−$109.7K −$7.31/SF
NOI
$256.0K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$5,119,460
Cap Rate 7%
$3,656,757
Cap Rate 9%
$2,844,144
Alternative Uses
Best Use
Multifamily LT 5
$3.66M
$3.20M – $4.27M
NOI $255,973 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$3.37M
$2.95M – $3.93M
NOI $235,943 @ 7.0% cap · market cap 4.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,689
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Turn-key restaurant plus four leased residential units and PA R liquor license for immediate operations.
Where is this mixed-use property located?
The property is located at 1247-53 N Front Street Philadelphia Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: Mixed‑use property with Front Street Cafe, four fully leased residential units, and fee‑simple real estate included; Front Street Cafe spans three floors plus outdoor space for al fresco dining, private events, and warm‑weather bar service; Sale includes a Pennsylvania R liquor license and all FF&E for day‑one operations, including kitchen equipment, bar fixtures, furniture, and point‑of‑sale systems
