Turn-Key Bar/Restaurant with Outdoor
For Sale
Contact for pricing
1361 N 2nd Street, Philadelphia, PA 19122
Fully equipped bar/restaurant with outdoor patio in Olde Kensington/Fishtown.
Property Size3,875 SF
Price / SF$400
Days on Market801
Property Features for 1361 N 2nd Street
General Information
Standard status
Active
Size
3,875 SF
Class
A
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Renovated
2022
Buildings
1
Listing Agency:
MSC Retail
Listed By:
Jacob Cooper · License #PA RS306451
(215) 883-7402
Source:
Crexi
Added: Jun 30, 2024
Changed: Sep 7
Last Checked: Sep 7 at 3:15AM
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
Investment Insights
Based on property information with market context.
This is a fully equipped, turn-key bar and restaurant available for sale, situated in the Olde Kensington/Fishtown neighborhood. The property includes a Pennsylvania R liquor license. Recent renovations have updated the kitchen and incorporated multiple bars, a large dining room, and attic space for storage. The property features 3,875 square feet of space. An additional 1,000 square foot outdoor patio is included as a separate deed.
Key Highlights
- Turn‑key bar/restaurant with Pennsylvania R liquor license included.
- Prime location in the Olde Kensington/Fishtown neighborhood.
- Dedicated 1,000sf outdoor patio space included as a separate deed.
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
$56,149
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
3.62%
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%
$1,122,980
$1.1M
Cap Rate 7%
$802,129
$802.1K
Cap Rate 9%
$623,878
$623.9K
Market Conditions
NOI Build-Up for 3,875 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
$81.4K $21.00/SF
− Vacancy
−$6.5K −$1.68/SF
EGI
$74.9K $19.32/SF
− OpEx
−$18.7K −$4.83/SF
NOI
$56.1K $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%
$1,122,980
Cap Rate 7%
$802,129
Cap Rate 9%
$623,878
Alternative Uses
Best Use
Specialty Retail
$802.1K
$701.9K – $935.8K
NOI $56,149 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$944.7K
$826.6K – $1.10M
NOI $66,126 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,689
Businesses Nearby
558k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 46%
Groceries 15%
Dining 14%
Home Improvements & Furnishings 10%
Walmart
Superstores
152,363 visits/mo
0.3 miles
Target
Superstores
105,271 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
49,459 visits/mo
0.3 miles
Wawa
Shops & Services
38,950 visits/mo
0.2 miles
ACME Markets
Groceries
34,436 visits/mo
0.4 miles
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 Retail in Philadelphia, PA
Questions? Ask Rey
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Similar Off Market Nearby
- Pub On Wolf — 2301 s front st, philadelphia, pa 19148
- T Barr's Bar — 2201 S 8th St, Philadelphia, PA 19148
- Mick Daniels — 2046 S 2nd St, Philadelphia, PA 19148
- McKenna's Pub — 153 Snyder Ave, Philadelphia, PA 19148
- Harryo's Pub — 2153 s hancock st, philadelphia, pa 19148
Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully equipped bar/restaurant with outdoor patio in Olde Kensington/Fishtown.
Where is this bar & pub located?
The property is located at 1361 N 2nd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Turn‑key bar/restaurant with Pennsylvania R liquor license included.; Prime location in the Olde Kensington/Fishtown neighborhood.; Dedicated 1,000sf outdoor patio space included as a separate deed.
