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 - Philadelphia
(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 - Philadelphia
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
