Two-Level Retail
For Sale
Contact for pricing
Pending
1420 Locust St, Philadelphia, PA 19102
Street-level space offers arcade entry and direct access for retail, service, or professional office use.
Property Size2,142 SF
Days on Market176
Property Features for 1420 Locust St
General Information
Standard status
Pending
Size
2,142 SF
Property subtype
Retail
Listing Agency:
Allan Domb Real Estate
Listed By:
Allan Domb · License #RB043135A
(215) 545-1500
Source:
Crexi
Added: Mar 16
Changed: Sep 1
Last Checked: Aug 31 at 11:31PM
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 Allan Domb Real Estate
Investment Insights
Based on property information with market context.
This 2,142-square-foot retail space extends across two floors within Academy House. The property has street-level exposure and direct entry through the Academy House arcade, supporting retail, service, or professional office occupancy. Its most recent use was as a salon.
Located at 1420 Locust St in Philadelphia, the space sits on a block characterized by substantial vehicle and pedestrian activity. Rittenhouse Square and the Avenue of the Arts are both described as being steps away, placing the property within a prominent central Philadelphia setting.
Located at 1420 Locust St in Philadelphia, the space sits on a block characterized by substantial vehicle and pedestrian activity. Rittenhouse Square and the Avenue of the Arts are both described as being steps away, placing the property within a prominent central Philadelphia setting.
Key Highlights
- 2,142 SF of space arranged across two floors
- Street‑level exposure with direct entry from the Academy House arcade
- Suitable for retail, service, or professional office use
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
$28,188
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
5.64%
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%
$563,760
$563.8K
Cap Rate 7%
$402,686
$402.7K
Cap Rate 9%
$313,200
$313.2K
Market Conditions
NOI Build-Up for 2,142 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
$47.0K $21.96/SF
− Vacancy
−$9.5K −$4.41/SF
EGI
$37.6K $17.55/SF
− OpEx
−$9.4K −$4.39/SF
NOI
$28.2K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /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%
$563,760
Cap Rate 7%
$402,686
Cap Rate 9%
$313,200
Alternative Uses
Best Use
Office B
$402.7K
$352.4K – $469.8K
NOI $28,188 @ 7.0% cap · market cap 5.64%
Second Best
Retail
$345.8K
$302.6K – $403.5K
NOI $24,209 @ 7.0% cap · market cap 4.84%
Theoretical Best
Multifamily LT 5
$522.2K
$456.9K – $609.2K
NOI $36,553 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
25,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 19102, PA
7,568
Population
4,606
Households
1.6
Avg Household Size
32
Median Age
87%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
37,840
Density / Sq Mi
$114,844
Median Household Income
$79,552
Median Earnings
$2,249
Median Rent
$412,200
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Street-level space offers arcade entry and direct access for retail, service, or professional office use.
Where is this retail space located?
The property is located at 1420 Locust St Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,142 SF of space arranged across two floors; Street‑level exposure with direct entry from the Academy House arcade; Suitable for retail, service, or professional office use
