Listing Agency: Binswanger - Corporate Show Phone

Listed By: Jason Ostach · License #1755115 Show Phone

Source: Moodyscre

Added: Apr 24, 2025 Changed: Oct 4 Last Checked: Oct 16 at 7:02AM

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Investment Insights

Based on property information with market context.

This 10,000-square-foot restaurant property in Elkins Park includes two commercial-grade kitchens, separate restroom facilities, full HVAC, a loading dock, and an outdoor seating area. The building is fully sprinklered, while the roof was replaced in 2018 and the utilities and mechanical systems are less than ten years old.

Zoned C3 in Cheltenham Township, the property is positioned just off Old York Road, a highly traveled corridor, and approximately 10 miles from downtown Philadelphia. The combination of kitchen infrastructure, loading access, customer seating, and updated building systems supports continued restaurant use.

Key Highlights

• 10,000 SF restaurant property with two commercial‑grade kitchens
• Utilities and mechanical systems less than 10 years old
• Fully sprinklered building with full HVAC

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$73,416

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,468,320 $1.5M

Cap Rate 7%

$1,048,800 $1.0M

Cap Rate 9%

$815,733 $815.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,000 SF

Gross rent

$114.0K $11.40/SF

− Vacancy

−$9.1K −$0.91/SF

EGI

$104.9K $10.49/SF

− OpEx

−$31.5K −$3.15/SF

NOI

$73.4K $7.34/SF

Area

Montgomery County, PA

Vacancy

8.00%

Lease Rate

$11.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,468,320

Cap Rate 7%

$1,048,800

Cap Rate 9%

$815,733

Alternative Uses

Best Use

Specialty Retail

$5.75M

$5.03M – $6.71M (±1% cap)

NOI $402,647 @ 7.0% cap · market cap 22.37%

Second Best

Industrial

$1.05M

$917.7K – $1.22M (±1% cap)

NOI $73,416 @ 7.0% cap · market cap 4.08%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Commercial kitchens

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Garden Center (Bike/Boat/Book/etc) Store Grocery & Convenience Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

833

Businesses Nearby

14k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Sunoco Shops & Services

13,979 visits/mo 0.3 miles

Demographics for 19027, PA

19,170

Population

8,550

Households

2.2

Avg Household Size

43

Median Age

56%

College-Educated

97%

High-School Grad

3.9 sq mi

ZIP Area

4,915

Density / Sq Mi

$105,190

Median Household Income

$52,970

Median Earnings

$1,439

Median Rent

$348,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Commercial kitchen - Restaurant property with two commercial-grade kitchens, outdoor seating, loading access, and C3 zoning in Cheltenham Township.

Where is this commercial kitchen located?

The property is located at 7917 High School Rd Elkins Park, PA.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: 10,000 SF restaurant property with two commercial‑grade kitchens; Utilities and mechanical systems less than 10 years old; Fully sprinklered building with full HVAC