Restaurant-Ready Retail
For Sale
Contact for pricing
1111-13 Walnut St, Philadelphia, PA 19107
Divisible 5,200+/- SF storefront with 38’ double-wide glass frontage and existing restaurant FF&E, including hood and walk-ins.
Property Size5,200 SF
Price / SF$278.85
Days on Market1282
Property Features for 1111-13 Walnut St
General Information
Standard status
Active
Size
5,200 SF
Property subtype
RETAIL
Zoning
CMX-5
Additional Details
Commercial Hood
Yes
Listing Agency:
MPN Realty, Inc.
(267) 238-1728
Listed By:
Joe Scarpone · License #RS290724
(215) 520-5091
Source:
Moodyscre
Added: Feb 8, 2023
Changed: Jul 25
Last Checked: Jul 25 at 7:44AM
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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
Restaurant-ready retail storefront offering approximately 5,200+/- SF with divisibility. The space features high ceilings, floor-to-ceiling windows, and multiple design and layout options, along with existing office and bathrooms. Restaurant infrastructure is already in place, including an existing hood, walk-ins located in the basement, and a 16-line tap system.
The property includes rear loading and trash. With its 38’ of double-wide glass frontage on Walnut Street and the existing configuration, the space also presents potential for outdoor dining.
Zoning is CMX-5. The surrounding area includes several active and planned developments, and Patco Subway stops are identified at 9th & Locust and 13th & Locust.
The property includes rear loading and trash. With its 38’ of double-wide glass frontage on Walnut Street and the existing configuration, the space also presents potential for outdoor dining.
Zoning is CMX-5. The surrounding area includes several active and planned developments, and Patco Subway stops are identified at 9th & Locust and 13th & Locust.
Key Highlights
- Divisible 5,200+/- SF storefront with 38’ double‑wide glass frontage on Walnut Street
- Existing restaurant FF&E in place, including hood and basement walk‑ins
- 16‑line tap system in place with potential for outdoor dining
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
$75,348
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
5.20%
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%
$1,506,960
$1.5M
Cap Rate 7%
$1,076,400
$1.1M
Cap Rate 9%
$837,200
$837.2K
Market Conditions
NOI Build-Up for 5,200 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
$109.2K $21.00/SF
− Vacancy
−$8.7K −$1.68/SF
EGI
$100.5K $19.32/SF
− OpEx
−$25.1K −$4.83/SF
NOI
$75.3K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,506,960
Cap Rate 7%
$1,076,400
Cap Rate 9%
$837,200
Alternative Uses
Best Use
Specialty Retail
$1.08M
$941.9K – $1.26M
NOI $75,348 @ 7.0% cap · market cap 5.20%
Second Best
Retail
$839.6K
$734.6K – $979.5K
NOI $58,771 @ 7.0% cap · market cap 4.05%
Theoretical Best
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,737 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
25,174
Businesses Nearby
231k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Groceries 25%
Hotels & Casinos 20%
Apparel 15%
Whole Foods Market
Groceries
37,607 visits/mo
0.4 miles
The Ritz-Carlton, Philadelphia
Hotels & Casinos
30,824 visits/mo
0.3 miles
ACME Markets
Groceries
20,427 visits/mo
0.4 miles
UNIQLO
Apparel
20,066 visits/mo
0.5 miles
Starbucks
Dining
16,511 visits/mo
0.5 miles
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
Market
Vacancy Rate% for Retail in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Storefront property - Divisible 5,200+/- SF storefront with 38’ double-wide glass frontage and existing restaurant FF&E, including hood and walk-ins.
Where is this storefront property located?
The property is located at 1111-13 Walnut St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Divisible 5,200+/- SF storefront with 38’ double‑wide glass frontage on Walnut Street; Existing restaurant FF&E in place, including hood and basement walk‑ins; 16‑line tap system in place with potential for outdoor dining
